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Henry Schein, Inc. (HSIC) Expands Support and Guidance to Customers Affected by Hurricane Sandy


11/9/2012 1:37:13 PM

MELVILLE, N.Y., Nov. 8, 2012 /PRNewswire/ -- Henry Schein, Inc. (NASDAQ: HSIC), the world's largest provider of health care products and services to office-based dental, medical and animal health practitioners, today announced plans to broaden support for its customers affected by Hurricane Sandy. In addition to the Company's disaster relief hotline, it is offering a host of financial services to affected customers and plans to stage a series of expert-led symposia examining all aspects of practice recovery.

"Our commitment has always been to help meet all of our customers' needs to operate efficient practices so they can focus on providing the best possible patient care," said Stanley M. Bergman, Chairman and Chief Executive Officer for Henry Schein. "The widespread catastrophe caused by Hurricane Sandy has magnified the needs of our customers exponentially in many cases, and we are determined to remain a committed partner as they rebuild and reengage their practices. As a company based on Long Island, which suffered so much from the storm, we do not have to look far to identify opportunities to help. We are eager to assist our neighbors and our customers throughout the Northeastern United States during this time of great need."

Among the financial services that Henry Schein is offering to customers affected by Hurricane Sandy are extended credit terms on merchandise and small equipment purchases; extended credit terms on existing balances; selected health care equipment availability for short-term usage; and other extended no payment options for required capital equipment purchases to get practices back into operation. Henry Schein Professional Practice Transitions is also providing licensing assistance and other guidance to health care practitioners who wish to practice out of state or relocate. Customers with existing leases will have grace periods on existing loans booked through Henry Schein Financial Services, and loan deferrals and/or restructuring may be available to customers upon request.

Plans are also underway for a series of customer symposium held in conjunction with leading health care professional associations and featuring experts offering advice on a number of topics, including:

  • Coping with the impact of Hurricane Sandy and managing the unknown that lies ahead
  • Licensing, insurance recovery, human resources, cash flow, credit lines and other pressing issues
  • Preparing the insurance claim (physical damage and business interruption)
  • Loss accounting for insurance and tax-related considerations
  • FEMA assistance and other governmental support mechanisms
  • Solving the cash-flow and capital funding challenge

Symposia details are still being finalized, with one planned to be held as soon as possible and others to follow. Times and locations of symposia and featured speakers will be announced in the near future.

The Henry Schein disaster relief hotline remains open for dentists, physicians, and veterinarians who experience operational, logistical, or financial issues as a result of Hurricane Sandy. The toll-free number for all Henry Schein customers 800-999-9729 is operational from 7 a.m. to 7 p.m. ET.

About Henry Schein, Inc.
Henry Schein, Inc. is the world's largest provider of health care products and services to office-based dental, medical and animal health 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 more than 15,000 Team Schein Members and serves approximately 775,000 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 90,000 national and Henry Schein private-brand products in stock, as well as more than 100,000 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.

Headquartered in Melville, N.Y., Henry Schein has operations or affiliates in 25 countries. The Company's sales reached a record $8.5 billion in 2011, and have grown at a compound annual rate of 18 percent since Henry Schein became a public company in 1995. For more information, visit the Henry Schein Web site at www.henryschein.com.

SOURCE Henry Schein, Inc.


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