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Henry Schein Annual Report 2006

Henry Schein Annual Report 2006

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Published by Henry Schein

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Published by: Henry Schein on Mar 31, 2010
Copyright:Attribution Non-commercial


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Our History.
On Our Future.
The Company operates through a centralized andautomated distribution network,which providescustomers in more than 200 countries with acomprehensive selection of more than 70,000 brandedand Henry Schein private-brand products in stock,as well as over 100,000 additional products availableto our customers as special order items.Henry Schein also offers a wide range of innovative value-added practice solutions for healthcareprofessionals,such as A
,the Companyselectronic catalog and ordering system.Its leadingsoftware systems–DENTRIX 
and Easy Dental
fordental practices; MicroMD
for medical providersin primary care and all specialties; LabNet
fordental laboratories; and AVImark
for veterinary clinics–have been installed in more than 50,000healthcare practices.Henry Schein has been included in the FORTUNElist of America’s Most Admired Companies for threeconsecutive years,and each of those years the Companhas led its industry in social responsibility.Headquartered in Melville,N.Y.,Henry Scheinemploys more than 11,000 people and has operationsin 19 countries.For more information,visit theHenry Schein Web site at
Henry Schein,a FORTUNE 500
company,is the largestdistributor of healthcare products and services to office-based practitioners in the combined North Americanand European markets.The Company’s sales reached arecord $5.15 billion in 2006.The Company provides innovative solutions forhealthcare professionals and is recognized for itsexcellent customer service and highly competitiveprices.Henry Schein’s four business groupsDental,Medical/Animal Health,International andTechnology–serve more than 500,000 customers worldwide,including:Approximately 85% of the estimated 135,000U.S.and Canadian office-based dental practicesand 19,000 dental laboratories;Approximately 45% of the estimated 250,000U.S.office-based physician practices,as well assurgical centers and other alternate-care sites;Over 75% of the estimated 26,000 veterinary practicesin the United States;Approximately 240,000 office-based dental,medicaland veterinary practices outside North America,primarily in Europe,Australia and New Zealand; andGovernment and other institutions providinghealthcare services.
Seventy-five years ago
in the middle of the GreatDepression,Henry and EstherSchein founded our Company as a small pharmacy in Queens,New York.Their businessphilosophy,commitment to theircustomers and employees,and willingness to adapt theirbusiness to take advantage of new opportunities drove ourCompany’s early success andlaid the foundation for thedecades of growth that followed.
However,it is likely that even theiroptimistic vision for what Henry Schein could become fell short of thereality that we have been able toachieve: a multinational FORTUNE500
company that is the largestdistributor of healthcare productsand services to office-based dental,medical,and veterinary practitionersin the combined North American andEuropean markets.It has been a remarkable journey,andas we reach this milestone 75thanniversary,it is appropriate to reflecton and celebrate our past success.As you will see in this Annual Report,thehistory of our Company has beenmarked by innovation that has helpedreshape our industry and thehealthcare professions that we serve;reinvention of our Company to takeadvantage of changing markets andemerging areas of opportunity;sustained growth in every facet of ourCompany; commitment to meetingour customers’many practice needs;and preservation of our unique values-based culture,a legacy of ourfounders.
Celebrating Our Success – 2006
Our most recent year was also our mostsuccessful.In 2006,we posted recordnet sales of $5.15 billion,an increaseof 11.2% over the prior year,including10.6% growth in local currencies.Our operating margin expanded by 24basis points over 2005,while income

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