Henry Schein, Inc. is a provider of health care products and services to office-based dental, animal health, and medical practitioners. The company serves approximately one million customers across the world, including dental practitioners and laboratories, animal health clinics and physician practices, as well as government, institutional health care clinics, and other alternate care clinics.
Henry Schein’s product quality and safety management efforts are quite robust, adhering to a number of related industry specific and international standards. For example, the company has adopted specific elements of the Social Accountability International’s SA8000 standards, which monitors human rights violations of the company’s Asian suppliers, and certifies many facilities to ISO 9001 international quality standards as well. Moreover, Henry Schein obtains Verified-Accredited Wholesale Distributors accreditation, which combats counterfeit drug distribution from manufacturers to pharmacies, and conducts internal audits as a second layer of verification and remediation. In addition to quality and safety, the company has strong policies and protections against corruption and bribery across its business segments. First and foremost, Henry Schein has a comprehensive code of conduct that explicitly prohibits facilitation payments and applies to all of the contributors to its value chain. Furthermore, the company goes beyond internal audits, trainings and whistleblower protections, by participating in the World Economic Forum’s Partnering Against Corruption Initiative, a cross-industry collaborative that promotes anti-corruption and transparency. Also of note, Henry Schein has nearly doubled its green product offerings in recent years.
Despite several operational efficiency efforts, Henry Schein lacks long-term environmental targets and fails to report key performance indicators. Additionally, the company does not separate the CEO and Chairman roles and includes a board with several long-serving directors.
Industry: Health Care
Country: United States
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 12/31/2016 and may not reflect current opinions or subsequent events.