HENRY SCHEIN Business Summary

Henry Schein Inc. (HSIC) is the preeminent global provider of healthcare solutions for office-based dental and medical practitioners, utilizing a business model centered on the distribution of consumables, equipment, and high-margin value-added services. The company generates revenue through a combination of transactional product sales and recurring software-as-a-service (SaaS) fees, organized into three strategic segments: Global Distribution and Value-Added Services, Global Specialty Products, and Global Technology. This structure, formalized under the 2025-2027 BOLD+1 Strategic Plan, leverages a centralized automated distribution network to serve over one million customers worldwide. Henry Schein maintains a leading market position ahead of primary competitors Patterson Companies, Benco Dental, and Envista Holdings, differentiating itself through the deep integration of practice management software, such as Dentrix, with its physical supply chain. Originally founded as a pharmacy in 1932 by Henry and Esther Schein, the company is currently led by long-time Chairman and CEO Stanley M. Bergman, who has overseen its growth from $225 million to over $12.7 billion in annual sales since 1989. As of February 2026, the firm is in the final stages of a leadership transition, with Frederick M. Lowery—formerly an Executive Vice President at Thermo Fisher Scientific—slated to assume the CEO role on March 2, 2026. The current senior leadership includes SVP and CFO Ronald N. South, a veteran of the energy and healthcare sectors, and CTO Christopher Pendergast, who directs the company’s digital and cybersecurity initiatives. Henry Schein’s board, led by Lead Director Philip A. Laskawy, is supported by significant institutional investors including KKR, which maintains a strategic partnership and the right to increase its equity stake to 19.9%, alongside major holdings from Vanguard and BlackRock.