MELVILLE, N.Y.--(BUSINESS WIRE)--Henry Schein, Inc. (Nasdaq: HSIC), the world's largest provider of health care products and services to office-based dental and medical practitioners, announced today that its Board of Directors has authorized the repurchase of up to $400 million of shares of the Company's common stock.
This program is in addition to the $400 million repurchase program announced in December 2018, which as of today has approximately $75 million remaining authorized for future repurchases.
The Company had approximately 147 million shares outstanding as of October 30, 2019. This new authorization represents approximately 4.0 percent of shares outstanding at the current stock price. Purchases may be made from time to time in the open market, or through negotiated transactions.
"Henry Schein's share repurchase program demonstrates our long-term commitment to create additional shareholder value and reflects our confidence in the long-term prospects of our business," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "We are pleased that Henry Schein's solid balance sheet provides us with the financial flexibility to return capital to our shareholders, as we continue to pursue new markets and geographies while strengthening and broadening our health care product and service offerings."
About Henry Schein, Inc.
Henry Schein, Inc. (Nasdaq: HSIC) is a solutions company for health care professionals powered by a network of people and technology. With approximately 19,000 Team Schein Members worldwide, the Company's network of trusted advisors provides more than 1 million customers globally with more than 300 valued solutions that improve operational success and clinical outcomes. Our Business, Clinical, Technology, and Supply Chain solutions help office-based dental and medical practitioners work more efficiently so they can provide quality care more effectively. These solutions also support dental laboratories, government and institutional health care clinics, as well as other alternate care sites.
Henry Schein operates through a centralized and automated distribution network, with a selection of more than 120,000 branded products and Henry Schein private-brand products in stock, as well as more than 180,000 additional products available as special-order items.
A FORTUNE 500 Company and a member of the S&P 500® and the Nasdaq 100® indexes, Henry Schein is headquartered in Melville, N.Y., and has operations or affiliates in 32 countries. The Company's sales from continuing operations reached $9.4 billion in 2018, and have grown at a compound annual rate of approximately 13 percent since Henry Schein became a public company in 1995.
For more information, visit Henry Schein at www.henryschein.com, Facebook.com/HenrySchein, and @HenrySchein on Twitter.
