Skip to Content

Henry Schein receives funding

Henry Schein receives funding Henry Schein, KKR to collaborate on strategic growth

MELVILLE, N.Y. – Henry Schein has received a strategic investment of $250 million from KKR, giving the global investment firm a 12% stake in the company, with the option to purchase additional shares for a total equity stake of up to 14.9%.  

Also as part of the agreement, KRR’s Max Lin and William K. “Dan” Daniel will join Henry Schein’s board of directors as independent directors and, separately, Robert J. “Bob” Hombach will also join as an independent director. 

“Our board and management have great respect for KKR, including its partnership-oriented approach and experience in supporting value creation across its investments,” said Stanley M. Bergman, chairman of the board and CEO of Henry Schein. “This is a testament to the hard work of Team Schein to advance our leadership as a solutions-driven innovator for health care professionals. We regularly engage with our shareholders and welcome their constructive dialogue, advice and recommendations. We look forward to collaborating with Max, Dan, and Bob in pursuing the opportunities ahead of us and building on Henry Schein’s incredible foundation.”  

  • Lin is a partner at KKR where he leads the health care industry team within its Americas Private Equity platform. He will join the board’s nominating and governance committee as vice chair and will also join the strategic advisory committee. 

  • Daniel, an executive advisor to KKR and former executive vice president at Danaher Corporation, will join the board’s compensation and strategic advisory committees.  

  • Hombach, former executive vice president, CFO and CEO of Baxalta Inc., is expected to join the board’s strategic advisory committee.  

Together, Henry Schein and KKR will collaborate to pursue additional opportunities to create shareholder value and drive the business in its next phase of growth, with a specific focus on strategic growth, operational excellence, capital allocation, and employee engagement, including exploring broad-based equity ownership.  

Comments

To comment on this post, please log in to your account or set up an account now.