From Poughkeepsie to Prague, Henry Schein outfits dental offices around the world with everything they need. The company is a leading global distributor of dental supplies, equipment, and pharmaceuticals. Henry Schein provides everything from the delicate hand held tools up to the X-ray equipment and patient chairs, as well as office supplies and anesthetics. But the company isn't only interested in teeth: It also supplies doctors' offices, veterinarians, and other office-based health care providers with diagnostic kits, surgical tools, drugs, vaccines, and animal health products. Other offerings include practice management software, repair services, and financing.
Henry Schein's health care distribution segment accounts for nearly all of the company's sales and is divided into four smaller divisions: dental (US and Canada), medical (US), animal health (US), and international (dental, medical and animal health products sold in Europe, Australia, and New Zealand). The company also has a health care technology segment that provides practice management software and related services worldwide.
Henry Schein operates about 65 distribution centers throughout the US, Canada, the Asia/Pacific region, and Europe. It also distributes through affiliates in some areas including the Middle East and Iceland.
Henry Schein is a leader the North American dental supply market. One root of its success is its distribution strategy: it operates about 65 distribution centers throughout the globe that can quickly fill and deliver orders to nearby customers. In areas without distribution centers, it delivers products through direct air package service. It also distributes through affiliates in certain areas.
Its overall growth strategy is counting on an aging US population that requires more dental care, a steady increase in cosmetic dentistry, and a migration of care from acute care settings (hospitals) to physician offices.
While still focusing on increasing sales of its core dental product lines, the company has significantly widened its presence in the medical and animal health markets, both through acquisitions and by introducing new products and services.
Sales & Marketing
The company sells its products via direct mail, telephone sales, and a field sales force.
Mergers & Acquisitions
Not content with its market leading position in North America, the company aggressively pursues acquisitions to expand its geographic reach.
In 2012 Henry Schein targeted the European animal health market when it paid some $40 million to acquire AUV Veterinary Services from Dutch firm AUV Group. The purchase secured Henry Schein the leading distributor of veterinary supplies in Belgium and the Netherlands. It also moved to expand in Ireland that year when it purchased animal health products distributor C&M Vetlink.
Also in 2012 the firm increased its ownership interest in Butler Schein Animal Health, which distributes companion animal health supplies to vets in the US, to about 72%. (Henry Schein had acquired a majority stake in Butler Schein Animal Health, then known as Butler Animal Health, in 2009, effectively trippling the tripled the size of its domestic animal health division).
In 2011 the company entered the veterinary market in Australia and New Zealand with the $92 million buy of Provet Holdings. The purchase helped Henry Schein cement its strategy to expand its international health care distribution unit, which grew from some $2.5 billion in sales in 2010 to some $3 billion in sales in 2011.
Henry Schein expanded its health care technology segment through the acquisition of majority ownership of ImproMed and McAllister Software Systems, both developers of veterinary practice management systems in the US.
Henry Schein's international health care distribution unit grew from some $2.5 billion in sales in 2010 to some $3 billion in sales in 2011. Coupled with increases in its other segments, the company achieved overall revenue growth of 13% in 2011, from $7.5 billion to $8.5 billion; net income also grew 13% to $367 million.
Henry Schein's mix of consumable basics (filling amalgam, cement, polish) and big-ticket equipment (imaging systems, lasers, nitrous oxide systems) helped it ride out the economic recession with no dips in revenue. – moins
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