(HSIC) Henry Schein Extends Reach

Henry Schein (HSIC), the largest provider of health care products and services to office-based practitioners, recently opened a dental suit for children at Shriners Hospital, Hawaii. The dental suit namely, Dr. Gary I. Kondo Dental Suite will offer treatment to patients from Hawaii as well as the Pacific Rim, regardless of their paying capacity. The Shriners Hospitals for Children includes 22 hospitals nationwide and is a 501(c) 3 non-profit organization.

Henry Schein primarily derives its revenue from five divisions:  North American Dental, North American Medical, North American Veterinary, International, and Technology and Value-Added Services. Presently, the company serves more than 700,000 customers worldwide. Henry Schein’s Dental consumable division includes Sullivan-Schein Dental in the US, Henry Schein Arcona in Canada, and the Zahn Dental equipment laboratory supply business in Florida.

The North American Dental, which is the company’s largest segment, accounted for 33.3% ($709.3 million) of the company’s total revenue in the second quarter of 2011. This segment recorded a 4.7% increase in sales driven by a 4.0% rise in local currency coupled with 0.7% growth in foreign exchange. During the quarter, the dental consumable merchandise sales rose 4.8% in local currency.

Moreover, the dental equipments sales spiked 1.3% year over year in local currency. Excluding Biolase product sales for both the comparable periods, Dental equipment sales grew 3.8% in local currency. The company witnessed Dental consumable merchandise sales growth for the eighth consecutive quarter while Dental equipment sales and service revenues increased for the sixth consecutive quarter.

Presently, Henry Schein is undertaking various initiatives in order to drive top line growth and establish its broad domestic and international footprint in dental market. The company’s performance should also improve further with the gradual recovery in economic outlook. However, the company faces stiff competition from major players like McKesson Corporation (MCK) and Patterson Companies Inc. (PDCO).

HENRY SCHEIN IN (HSIC): Free Stock Analysis Report

MCKESSON CORP (MCK): Free Stock Analysis Report

PATTERSON COS (PDCO): Free Stock Analysis Report

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