Henry Schein Unveils 2023 CARES Report

Global Healthcare Solutions Provider Highlights Progress in Key Areas

Henry Schein, Inc., the world’s leading provider of healthcare solutions for dental and medical practitioners, has released its 2023 CARES Report on Sustainability and Corporate Citizenship. This comprehensive document outlines the company’s efforts to promote responsible business practices and create value for its stakeholders, including employees, customers, suppliers, investors, and society at large.

Five Pillars of Corporate Citizenship

The report is structured around Henry Schein Cares, the company’s global corporate citizenship program, which focuses on five key pillars:

1. Catalyzing healthcare access
2. Advancing policies, solutions, and innovation
3. Relationship-building for change
4. Empowering Team Schein
5. Sustaining the planet

These pillars form the foundation of the company’s approach to sustainability and corporate responsibility.

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Notable Achievements in 2023

Henry Schein has made significant strides in various areas of sustainability and corporate governance. Some key accomplishments include:

• Submitting near- and long-term targets to achieve Net Zero emissions by 2050
• Surpassing recycling goals in North American distribution
• Expanding diversity and inclusion initiatives
• Donating over $40 million in cash and products to global charitable partners
• Enhancing board diversity and independence
• Updating corporate standards and principles

Leadership’s Perspective

Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein, emphasised the company’s long-term vision:

“At Henry Schein, we envision a future where our innovation, leadership, and trusted partnerships inspire and generate positive impact across the healthcare ecosystem, ensuring a more sustainable and healthier future for generations to come.”

Bergman further added, “This report reflects Henry Schein’s 92-year history of serving as a good corporate citizen because we believe that the foundation of our success – a culture built on care – fosters not only business prosperity but also a more sustainable world.”

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Financial Performance and Future Outlook

The report also sheds light on Henry Schein’s financial performance. In 2023, the company reported global net sales of $12.3 billion, with its dental business contributing a significant 61% ($7.5 billion) to this figure.

Looking ahead, Henry Schein identifies several growth opportunities for its dental business, including:

• Greater penetration of specialty markets
• Continued focus on large group practices
• Advancing technology solutions

Commitment to Transparency and Reporting Standards

Henry Schein’s 2023 CARES Report adheres to several internationally recognised reporting standards, including:

• Sustainability Accounting Standards Board
• Global Reporting Initiative Standards
• Task Force on Climate-related Financial Disclosures
• Greenhouse Gas Protocol

This commitment to transparency and standardised reporting demonstrates Henry Schein’s dedication to providing stakeholders with clear, comparable information on its sustainability efforts.

As the healthcare industry continues to evolve, Henry Schein’s focus on sustainability and corporate citizenship positions the company as a leader in responsible business practices, potentially setting a benchmark for others in the sector to follow.