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Henry Schein Announces $300 Million Increase To Share Repurchase Plan

Stocks in this article: HSIC

MELVILLE, N.Y., Dec. 10, 2013 /PRNewswire/ -- Henry Schein, Inc. (NASDAQ: HSIC), the world's largest provider of health care products and services to office-based dental, animal and medical practitioners, today announced that its Board of Directors has authorized the repurchase of up to $300 million of shares of the Company's common stock. This program is in addition to the $300 million repurchase program announced in November 2012, which as of today has approximately $12.3 million remaining authorized for future repurchases.

The Company had approximately 86 million shares outstanding as of September 28, 2013, and this new authorization represents approximately three 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 increasing shareholder value," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein.  "Our strong balance sheet provides us with the financial flexibility to return capital to shareholders while continuing to invest in our business and maintaining our ability to capitalize on our growth opportunities."

About Henry Schein, Inc.

Henry Schein, Inc. is the world's largest provider of health care products and services to office-based dental, animal health and medical practitioners.  The Company also serves dental laboratories, government and institutional health care clinics, and other alternate care sites.  A Fortune 500® Company and a member of the NASDAQ 100® Index, Henry Schein employs nearly 16,000 Team Schein Members and serves nearly 800,000 customers.

The Company offers a comprehensive selection of products and services, including value-added solutions for operating efficient practices and delivering high-quality care.  Henry Schein operates through a centralized and automated distribution network, with a selection of more than 96,000 branded products and Henry Schein private-brand products in stock, as well as more than 110,000 additional products available as special-order items.

The Company also offers its customers exclusive, innovative technology solutions, including practice management software and e-commerce solutions, as well as a broad range of financial services.

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