Henry Schein Announces $400 Million Increase to Share Repurchase Plan

Henry Schein, Inc. (Nasdaq: HSIC), the world's largest provider of health care products and services to office-based dental and medical practitioners, announced today that its Board of Directors has authorized the repurchase of up to $400 million of shares of the Company's common stock.

This program is in addition to the $400 million repurchase program announced in October 2019, which as of today has approximately $33 million remaining authorized for future repurchases.

The Company had approximately 140 million shares outstanding as of May 13, 2021. This new authorization represents approximately 4.0 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.

“This new share repurchase authorization reflects our team’s commitment to delivering on our strategic priorities, as well as our ability to generate solid cash flow,” said Steven Paladino, Executive Vice President and Chief Financial Officer of Henry Schein. “The plan provides us with the flexibility to execute on our balanced capital allocation strategy, which includes investments to support organic growth, strategic acquisitions, and share repurchases.”

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 more than 20,000 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 120,000 branded products and Henry Schein private-brand products in stock, as well as more than 180,000 additional products available as special-order items.

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 31 countries and territories. The Company's sales reached $10.1 billion in 2020, and have grown at a compound annual rate of approximately 12 percent since Henry Schein became a public company in 1995.