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Henry Schein

Headquarters: 135 Duryea Road
Melville, NY 11747
Employees: 14,000
CEO: Stanley Bergman
Website
: http://www.henryschein.com

Stock Symbol: HSIC

Career Page

Henry Schein, Inc. is the largest distributor of healthcare products to office-based practitioners in North America and Europe. The company serves over 700,000 customers worldwide which include dental practices and laboratories, physician practices, and veterinary clinics, as well as government and other institutions.

Henry Schein has more than 2,750 field sales consultants (including equipment sales specialists), and 1,400 telesales representatives, supported by 202 equipment sales and service centers, and a highly targeted direct marketing program. Through this program, more than 27 million catalogs, order stuffers, flyers, newsletters, e-mails, and other materials are distributed annually.

Henry Schein operates its four business groups - Dental, Medical, International, and Technology - through a centralized and automated distribution network, which provides customers in more than 200 countries with a selection of over 190,000 national and Henry Schein private-brand products. Henry Schein also offers a wide range of innovative, value-added practice-management solutions, including such leading practice-management software systems as DENTRIX and Easy Dental for dental practices; and AVImark for veterinary clinics; and ArubA, Henry Schein's electronic catalog and ordering system. The software has a user base of over 65,000 practices.

In 2009, the company reported revenues of $6.5 billion and net income of $311.1 million.

Headquartered in Melville, NY, Henry Schein employs nearly 14,000 people in 24 countries.

History

In 1932, Henry Schein was a young pharmcist who opened his own pharmacy and soda fountain in Woodside, NY with $500 in savings. In 1942, Schein began selling penicillin directly to customers. This would become a turning point for the business.

By 1953, Henry Schein would grow its business by shifting focus from the consumer market to the office-based practitioner market.

In 1962, the company moved into a new warehouse facility in Flushing, NY after introducing its first comprehensive catalog.

By the 1970s, the company would aim its focus on the dental market.

In 1983, the company created a system to allow for orders to be placed via touch-tone phone and eventually by computer.

Henry Schein would pass away in 1987. The company would go public in 1995.

 

Benefits

Healthcare - The company offers comprehensive medical (including a prescription drug benefit), dental, and vision-care programs that provide a wide variety of coverage levels to meet individual needs. These programs contain access to care through a network of providers as well as the option to choose a provider not currently affiliated with the network. In addition, some locations offer convenient on-site wellness programs to help maintain good health.

401(k) Retirement Plans - To help build retirement savings, Henry Schein offers a competitive 401(k) Plan with a matching Company contribution. Starting immediately, you can invest your money in a wide range of investment options to meet your financial goals. You may also rollover eligible distributions from your former employer's plan right away. The Company matches eligible contributions after one year of service.

Income Protection - To help protect you and your family against serious financial consequences, Henry Schein provides Team Members with a variety of income-protection programs aimed at providing income replacement in times of need. These programs include: Life Insurance, Accidental Death and Dismemberment (AD&D), Business Travel Accident Insurance, Voluntary Life Insurance, Voluntary AD&D, Dependent Life Insurance, Short-Term Disability, and Long-Term Disability.

Flexible Spending Accounts - Flexible Spending Accounts (FSA) enable Team Schein Members to direct a portion of their pay, on a pretax basis, into special accounts that can be used to reimburse them for certain medical and dependent care expenses that are not covered under other benefit plans (e.g., co-pays, deductibles, over-the-counter medications, daycare expenses, etc.). Since the amount you elect to contribute to the FSA is deducted from your paycheck on a pretax basis, you save money by reducing your taxes. This amount is then reimbursed to you after submitting eligible claims. To maximize your benefit, careful planning is required.

Educational Benefits - Henry Schein recognizes and promotes the importance of education. Whether you are continuing your own education or planning for your children's education, assistance is provided through the following benefits:
- Tuition Assistance - Eligible tuition expenses are reimbursed for Team Schein Members up to a maximum amount each year for qualifying educational expenses.
- Worldwide Scholarship Program - This program is designed to assist in making higher education more available to the children of our Team Schein Members.  Annual scholarship awards are provided to eligible children.
- 529 College Savings Plan - This plan provides a tax-advantaged way for you to save for a college education for your children, grandchildren, or whomever you choose, via post-tax payroll deductions.  Your money is then invested in specific investment options (you choose from a variety of options offered).  The earnings on your investments grow free from federal taxes and the distributions are free from federal taxes when used to pay for qualified college expenses.

Team Schein Assistance Program - To help Team Members successfully manage their day to day lives, Henry Schein offers a Work/Life Assistance Program. This program utilizes both a website and telephone based reference center. This Program is confidential and is available for our Team Members 24 hours a day, 7 days a week.

Paid Time-Off - Henry Schein recognizes that everyone needs time-off to handle personal and other important matters or just for rest and relaxation. Therefore, we offer a variety of paid time-off including: vacation time, sick/personal days, certain national holidays, and floating holidays as well as bereavement, jury duty, or military leave.

Updated January 29, 2011

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