Henry Schein Announces Completion of Strategic Investment by KKR and Appointment of Dan Daniel to Board of Directors
MELVILLE, N.Y., May 16, 2025--(BUSINESS WIRE)--Henry Schein, Inc. (Nasdaq: HSIC), the world's largest provider of health care solutions to office-based dental and medical practitioners, today announced the successful completion of a $250 million strategic investment by funds affiliated with KKR, a leading global investment firm. Upon the closing of this transaction, KKR has become the holder of approximately 12% of the common shares of Henry Schein.
In connection with the investment, William K. "Dan" Daniel, Executive Advisor to KKR and former Executive Vice President of Danaher Corporation, has officially joined Henry Schein's Board of Directors as an independent director. He joins Max Lin, Partner at KKR and leader of the firm's Health Care industry team in the Americas, who became a member of Henry Schein's Board of Directors on May 2, 2025.
Max Lin leads the Health Care industry team within KKR, and since joining in 2005, he has overseen a number of investments in the areas of dental services and other health care providers, medical products and equipment, and health care software and information technology. Dan Daniel has over three decades of global leadership experience in industrial and health care sectors, including 14 years as Executive Vice President at Danaher, where he oversaw multiple segments and played a key role in advancing the company's culture and business system. In connection with each of their appointments, Mr. Lin was appointed to the Nominating and Governance Committee as Vice Chair; Mr. Daniel was appointed to the Compensation Committee; and each of Mr. Lin and Mr. Daniel was appointed to the Strategic Advisory Committee.
"We are pleased to welcome Max and Dan to the Board as we embark on this exciting next chapter for Henry Schein," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "Their deep experience in health care, operations, and strategic growth will be invaluable as we continue executing on our BOLD+1 strategy and creating long-term value for our stakeholders."
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 25,000 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 help 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 300,000 branded products and Henry Schein corporate brand products in our distribution centers.
A FORTUNE 500 Company and a member of the S&P 500® index, Henry Schein is headquartered in Melville, N.Y., and has operations or affiliates in 33 countries and territories. The Company's sales reached $12.7 billion in 2024, and have grown at a compound annual rate of approximately 11.2 percent since Henry Schein became a public company in 1995.
For more information, visit Henry Schein at www.henryschein.com, Facebook.com/HenrySchein, Instagram.com/HenrySchein, LinkedIn.com/Company/HenrySchein, and @HenrySchein on X.
About KKRKKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at www.globalatlantic.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250516439220/en/
Contacts
InvestorsRonald N. SouthSenior Vice President and Chief Financial Officerronald.south@henryschein.com (631) 843-5500Graham StanleyVice President, Investor Relations and Strategic Financial Project Officergraham.stanley@henryschein.com (631) 843-5500MediaHenry Schein Tim VassilakosExecutive Director, Global Corporate Communicationstimothy.vassilakos@henryschein.com (516) 510-0926KKR Liidia Liuksilamedia@KKR.com
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
37 minutes ago
How major US stock indexes fared Friday, 6/6/2025
Stocks rose on Wall Street following a better-than-expected report on the U.S. job market. The S&P 500 climbed 1% Friday, marking its second weekly gain in a row. The Dow Jones Industrial Average added 1%, and the Nasdaq composite rose 1.2%. U.S. employers slowed their hiring last month, but still added a solid 139,000 jobs amid uncertainty over President Donald Trump's trade wars. Lululemon Athletica sank after lowering its profit forecast for the full year. On Friday: The S&P 500 rose 61.06 points, or 1%, to 6,000.36. The Dow Jones Industrial Average rose 443.13 points, or 1%, to 42,762.87. The Nasdaq composite rose 231.50 points, or 1.2%, to 19,529.95. The Russell 2000 index of smaller companies rose 34.89 points, or 1.7%, to 2,132.25. For the week: The S&P 500 is up 88.67 points, or 1.5%. The Dow is up 492.80 points, or 1.2%. The Nasdaq is up 416.19 points, or 2.2%. The Russell 2000 is up 65.96 points, or 3.2%. For the year: The S&P 500 is up 118.73 points, or 2%. The Dow is up 218.65 points, or 0.5%. The Nasdaq is up 219.16 points, or 1.1%. The Russell 2000 is down 97.91 points, or 4.4%.
Yahoo
an hour ago
- Yahoo
Stocks to Watch as May's Jobs Report Beats Economists' Expectations: PCTY, MMS
The broader indexes saw a nice uptick on Friday as May's Jobs report came in better than expected, with the S&P 500 and Nasdaq rising over +1%. Driving the stock market's uptick, U.S. employers added 139,000 jobs, which came in above most economists' expectations of 125,000-130,000, while the unemployment rate remained steady at 4.2%. Also helping to appease tariff uncertainty was that wage growth outpaced inflation, with average hourly earnings rising 3.9% year over year compared to April's latest reading of a 2.3% inflationary uptick (Consumer Price Index). Notably, the next inflation report is set for Wednesday, June 11, when the Fed releases the latest CPI data. That said, here are a few stocks investors will want to consider following May's optimistic jobs report, with payroll stocks being of interest in particular. Image Source: Federal Reserve Economic Data Paylocity PCTY is a cloud-based payroll and human capital management (HCM) software solutions provider to keep an eye on. Notably, Paylocity has continued an impressive streak of surpassing earnings expectations, most recently beating EPS estimates for its fiscal third quarter by 16% in May. Paylocity has now exceeded the Zacks EPS Consensus for 26 consecutive quarters with an average EPS surprise of 15.4% over the last four quarters. Image Source: Zacks Investment Research Meanwhile, government health and human services program provider Maximus MMS is benefiting from a pleasant trend of rising EPS revisions and trades at a very reasonable 10.8X forward earnings multiple. Glamorizing Maximus' attractive P/E valuation, fiscal 2025 and FY26 EPS estimates have risen nearly 7% and 4% in the last 30 days, respectively, with the company blasting earnings expectations for its fiscal second quarter by 47% last month (Q2 EPS of $2.01 versus $1.37 Consensus). Image Source: Zacks Investment Research Other payroll stocks to consider include HCM software providers Dayforce DAY and Paychex PAYX, along with outsourcing company Barrett Business Services BBSI which all land a Zacks Rank #3 (Hold). Furthermore, certain medical and hospitality-related stocks are appealing as May's Jobs report showed job growth was strongest in the healthcare and leisure/hospitality sectors, which added 62,000 and 48,000 jobs, respectively. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Maximus, Inc. (MMS) : Free Stock Analysis Report Paylocity Holding Corporation (PCTY) : Free Stock Analysis Report Paychex, Inc. (PAYX) : Free Stock Analysis Report Barrett Business Services, Inc. (BBSI) : Free Stock Analysis Report Dayforce, Inc. (DAY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Five Below: Strong Q1 Comparable Sales
Five Below beat analyst expectations across the board, reporting strong comparable sales growth of 7.1%. The second quarter outlook is solid, although comparable sales growth will slow as the year goes on. Tariffs and economic uncertainty aren't yet having a negative impact on customer purchasing trends or the bottom line. 10 stocks we like better than Five Below › Here's our initial take on Five Below's (NASDAQ: FIVE) fiscal 2025 first-quarter financial report. Metric Q1 FY24 Q1 FY25 Change vs. Expectations Revenue $811.9 million $970.5 million +19.5% Beat Earnings per share (adjusted) $0.60 $0.86 +43% Beat Comparable sales growth (2.3%) 7.1% +9.4 pp n/a New store openings 61 55 -10% n/a Five Below reported solid first-quarter results despite a complex macroeconomic backdrop. Comparable sales rose by 7.1%, driven largely by an increase in transactions, while total revenue jumped 19.5%. The company opened 55 new stores during the quarter, and those stores are performing well, according to Five Below CEO Winnie Park. The retailer is navigating tariffs and global economic uncertainty, and so far, those potential headwinds haven't had much of an impact on Five Below's business. Operating income and adjusted earnings per share rose significantly from the first quarter of fiscal 2025, with the latter beating analyst expectations. For the fiscal second quarter, Five Below expects to open around 30 net new stores and produce comparable sales growth between 7% and 9%. Total revenue should come in between $975 million and $995 million, while adjusted EPS is expected between $0.50 and $0.62. For the full fiscal year, the company sees comparable sales growth between 3% and 5%, 150 net new stores, revenue between $4.33 billion and $4.42 billion, and adjusted EPS between $4.25 and $4.72. Share prices of Five Below were up about 2% in after-hours trading on Wednesday soon after the release of the first-quarter report. The company beat analyst estimates for revenue and adjusted EPS, and its second-quarter outlook looked solid. However, the full-year outlook called for slower comparable sales growth, which could be keeping the stock price in check. While tariffs and economic uncertainty aren't having much of an impact on Five Below right now, the situation is fluid. The company sourced about 60% of its purchases from domestic vendors in 2024, although it's difficult to know how exposed those vendors are to tariffs. The timing and makeup of trade deals the U.S. strikes with other countries will have an impact on Five Below's costs, and consumer behavior remains a wildcard. Investors should listen to Five Below's earnings call on Wednesday evening for more information from management on how tariffs are affecting the full-year outlook. Full earnings report Investor relations page Before you buy stock in Five Below, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Five Below wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $668,538!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $869,841!* Now, it's worth noting Stock Advisor's total average return is 789% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Timothy Green has no position in any of the stocks mentioned. The Motley Fool recommends Five Below. The Motley Fool has a disclosure policy. Five Below: Strong Q1 Comparable Sales was originally published by The Motley Fool
