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Henry Schein completes Condor Dental acquisition

Henry Schein (Nasdaq:HSIC) announced today that it completed its previously announced acquisition of Condor Dental Research Company.

Melville, New York-based Henry Schein announced the acquisition, for which financial terms were not disclosed, a month ago on June 7. It acquired Condor from MCCB Holding Sarl and expects the transaction to be neutral to its 2022 diluted earnings per share and accretive thereafter.

The company has served the Swiss dental implant market through Camlog Biotechnologies GmbH, a member of the Global Oral Reconstruction Group (a Basel, Switzerland-based division of the company). Through its acquisition of Condor Dental, the company aims to expand its entry into the Swiss market for dental distribution.

Condor Dental, which brings in most of its revenues from dental consumable merchandise, reported sales of approximately $18 million in 2021. Now that the acquisition has closed, the company will join Henry Schein’s international di…

Henry Schein to acquire Condor Dental

Henry Schein (Nasdaq:HSIC) announced today that it signed a definitive agreement to acquire Condor Dental Research Company.

Vouvry, Switzerland-based Condor Dental, a privately held dental distribution company, serves dental general practitioners, specialists and laboratories.

Melville, New York-based Henry Schein has served the Swiss dental implant market through Camlog Biotechnologies GmbH, a member of the Global Oral Reconstruction Group (a Basel, Switzerland-based division of the company). The company said in a news release that adding Condor Dental will expand its entry into the Swiss market for dental distribution.

Condor Dental brought in sales of approximately $18 million in 2021, with the majority coming from dental consumable merchandise. The company will join Henry Schein’s international distribution group once the transaction closes and the business will continue to operate under COO Yves Mailliard’s lead.

“We look forward …

Henry Schein investors push back on executive pay

Stanley Bergman is CEO and chair of Henry Schein [Photo courtesy of Henry Schein]Nearly half of Henry Schein (Nasdaq:HSIC) shareholders who voted at this month’s annual meeting voted against the company’s pay packages for top executives, according to a new SEC filing.

About 48.5% of voting shareholders voted against the company’s executive pay plan in what’s known as the Say-on-Pay vote, according to vote results of the May 18 meeting filed with the SEC on Friday.

The plan had 92% support in 2021, according to that year’s SEC filing, and about 90% support the year before that.

Get the full story at our sister site, Medical Design & Outsourcing.

Henry Schein investors push back on executive pay

Stanley Bergman is CEO and chair of Henry Schein [Photo courtesy of Henry Schein]

Nearly half of Henry Schein (Nasdaq:HSIC) shareholders who voted at this month’s annual meeting voted against the company’s pay packages for top executives, according to a new SEC filing.

About 48.5% of voting shareholders voted against the company’s executive pay plan in what’s known as the Say-on-Pay vote, according to vote results of the May 18 meeting filed with the SEC on Friday. The plan had 92% support in 2021, according to that year’s SEC filing, and about 90% support the year before that.

Because these are advisory votes, they don’t require the board or management to take action and won’t affect executive pay unless the board takes steps on its own. But it’s a way for investors to put the board and top executives on notice.

Following the 2021 vote’s overwhelming support, t…

Henry Schein hires former Medline veteran to drive ‘One Distribution’ push

Dirk Benson is chief commercial officer of Henry Schein’s North American Distribution Group. [Photo courtesy of Henry Schein]Henry Schein (Nasdaq:HSIC) today named Dirk Benson as VP and chief commercial officer of the medical device manufacturer and distributor’s North America Distribution Group (NADG).

Melville, New York-based Henry Schein is the world’s largest provider of health care supplies and services for office-based dental and medical practitioners, and NADG is the company’s largest business group.

The role of chief commercial officer is new at NADG. In it, Benson will drive Henry Schein’s “One Distribution” initiative, which the company called a “critical element” of its 2022-2024 Bold+1 strategic plan.

Get the full story at our sister site, Medical Design & Outsourcing.

Henry Schein hires former Medline veteran to drive ‘One Distribution’ push

Dirk Benson is chief commercial officer of Henry Schein’s North American Distribution Group. [Photo courtesy of Henry Schein]

Henry Schein (Nasdaq:HSIC) today named Dirk Benson as VP and chief commercial officer of the medical device manufacturer and distributor’s North America Distribution Group (NADG).

Melville, New York-based Henry Schein is the world’s largest provider of health care supplies and services for office-based dental and medical practitioners, and NADG is the company’s largest business group.

The role of chief commercial officer is new at NADG. In it, Benson will drive Henry Schein’s “One Distribution” initiative, which the company called a “critical element” of its 2022-2024 Bold+1 strategic plan.

“One Distribution is designed to more tightly integrate the management of Henry Schein’s distribution businesses globally while more fully leveraging …

Henry Schein posts Street-beating Q1 results

Henry Schein (Nasdaq:HSIC) today posted first-quarter results that beat the overall consensus forecast on Wall Street.

The Mellville, N.Y.-based dental supplier reported profits of $181 million, or $1.30 per share, on sales of $3.2 billion, for the three months ended March 26, for a bottom-line gain of 9% on sales growth of 8.7% compared with Q1 2021.

Adjusted to exclude one-time items, earnings per share were $1.30, 11¢ ahead of The Street, where analysts were looking for sales of $3.13 billion.

“2022 is off to a strong start with record first-quarter financial results as we successfully execute on our new 2022-2024 strategic plan,” CEO Stanley Bergman said in a news release.

“First-quarter growth in our dental business was driven by strong global equipment sales as dentists continued to invest in their practices, and consumable merchandise sales recovered well during the second half of the quarter.”

Henry Schein expects 2022 GAAP di…

Henry Schein chief administrative officer retires, names chief operating officer

Henry Schein (Nasdaq:HSIC) today announced that chief administrative officer Gerald Benjamin is retiring and the company appointed Michael Ettinger to chief operating officer.

Benjamin’s retirement will take effect on July 1 after 34 years with the Mellville, N.Y.-based company. As part of his retirement, Ettinger will be promoted to executive VP and chief operating officer, effective July 1, and will report directly to CEO Stanley Bergman. He previously served as senior VP of corporate and legal affairs, secretary and chief of staff.

“Gerry’s steady, humble, and reliable leadership has benefited the lives of Team Schein Members and customers on a daily basis,” Bergman said in a news release. “Gerry joined Henry Schein in 1988 and led the continuous transformation of our Global Services Group to meet the needs of each of our constituencies as we grew from being a private, domestic mail-order business into an international, full-service, publicly-tra…

Henry Schein promotes Jennifer Ferrero to corporate secretary

Henry Schein (Nasdaq:HSIC) today announced that it appointed Jennifer Ferrero as VP, senior counsel and corporate secretary, effective July 1.

In her new role, Ferrero will be responsible for managing corporate governance activities, board activity and other related matters. She previously served as the company’s VP, senior counsel, corporate and deputy secretary.

“Jennifer is widely respected for her leadership, knowledge, and diligence on all matters related to corporate governance, including the growing environmental, social and governance (ESG) movement,” CEO Stanley Bergman said in a news release. “She has provided outstanding counsel and support to the Company’s Board of Directors, and we are pleased to have Jennifer’s talent and capabilities dedicated to this vital role as we execute on our strategic plan.”

Ferrero has held numerous leadership roles at Henry Schein since joining in 2004. She previously was a corporate associate at the global…

How medtech and pharma are responding to Russia’s invasion of Ukraine

[Image from Pixabay]

Medtech and pharma companies continue to support Ukraine relief efforts following Russia’s invasion.

Previously, the World Health Organization announced that it was sending “essential medical supplies” to Ukraine — including its first shipment of 36 metric tons of supplies for trauma care and emergency surgery and other health supplies — to meet the needs of more than 150,000 patients. Medical device and pharmaceutical companies have taken various actions for support efforts, ranging from matching employee contributions and sending supplies to suspending operations in the region.

Get the full running list of life science companies and their efforts on Medical Design & Outsourcing.

How medtech and pharma are responding to Russia’s invasion of Ukraine

[Image from Pixabay]Medtech and pharma companies continue to support Ukraine relief efforts following Russia’s invasion.

Previously, the World Health Organization announced that it was sending “essential medical supplies” to Ukraine — including its first shipment of 36 metric tons of supplies for trauma care and emergency surgery and other health supplies — to meet the needs of more than 150,000 patients. Medical device and pharmaceutical companies have taken various actions for support efforts, ranging from matching employee contributions and sending supplies to suspending operations in the region.

Get the full running list of life science companies and their efforts on Medical Design & Outsourcing.

How medtech and pharma are responding to Russia’s invasion of Ukraine

[Image from Pixabay]

Medtech and pharma companies continue to support Ukraine relief efforts following Russia’s invasion.

Previously, the World Health Organization announced that it was sending “essential medical supplies” to Ukraine — including its first shipment of 36 metric tons of supplies for trauma care and emergency surgery and other health supplies — to meet the needs of more than 150,000 patients. Medical device and pharmaceutical companies have taken various actions for support efforts, ranging from matching employee contributions and sending supplies to suspending operations in the region.

Below is a running list of life science companies and their efforts. This is a developing story and will be updated as companies release information.

3M: Suspending all business in Russia.

Abbott: Donating $2 million to humanitarian organizations to support Ukraine and refugees; donating …