Henry Schein To Be Dismissed From Summit County Opioid Litigation
October 21 2019 - 7:00AM
Business Wire
Company to Make Donation to Establish Pain
Management Education Foundation
Henry Schein, Inc. (Nasdaq: HSIC) announced today that the
plaintiff has agreed to dismiss the Company with prejudice as a
defendant in the opioid litigation involving Summit County, Ohio,
presently before the U.S. District Court for the Northern District
of Ohio.
“The opioid crisis is a terrible national tragedy, and all
segments of society need to come together to address the crisis,”
said Stanley M. Bergman, Chairman of the Board and Chief Executive
Officer, Henry Schein, Inc. “We look forward to playing a
constructive role in helping to advance solutions that put an end
to opioid addiction. Henry Schein will make a $1 million donation
to establish an educational foundation with Summit County to
develop best practices regarding the proper use and prescription of
opioids.”
Henry Schein, working with Summit County, will make the donation
to a Pain Management Education Foundation dedicated to making
grants supporting and aggregating research around best practices
for pain management, including the prescription of opioids and
alternatives, and educating dentists and physicians, clinical
associates, patients, and patient networks on those best practices
along with the risks of opioid addiction and alternative pain
management treatment options for key indications.
Henry Schein will pay $250,000 of Summit County’s expenses.
About Henry Schein, Inc.
Henry Schein, Inc. (Nasdaq: HSIC) is a solutions company for
health care professionals powered by a network of people and
technology. With approximately 19,000 Team Schein Members
worldwide, the Company's network of trusted advisors provides more
than 1 million customers globally with more than 300 valued
solutions that improve operational success and clinical outcomes.
Our Business, Clinical, Technology, and Supply Chain solutions help
office-based dental and medical practitioners work more efficiently
so they can provide quality care more effectively. These solutions
also support dental laboratories, government and institutional
health care clinics, as well as other alternate care sites.
Henry Schein operates through a centralized and automated
distribution network, with a selection of more than 120,000 branded
products and Henry Schein private-brand products in stock, as well
as more than 180,000 additional products available as special-order
items.
A FORTUNE 500 Company and a member of the S&P 500® and the
Nasdaq 100® indexes, Henry Schein is headquartered in Melville,
N.Y., and has operations or affiliates in 32 countries. The
Company's sales from continuing operations reached $9.4 billion in
2018, and have grown at a compound annual rate of approximately 13
percent since Henry Schein became a public company in 1995.
For more information, visit Henry Schein at www.henryschein.com,
Facebook.com/HenrySchein, and @HenrySchein on Twitter.
Cautionary Note Regarding Forward-Looking Statements
In accordance with the "Safe Harbor" provisions of the Private
Securities Litigation Reform Act of 1995, we provide the following
cautionary remarks regarding important factors that, among others,
could cause future results to differ materially from the
forward-looking statements, expectations and assumptions expressed
or implied herein. All forward-looking statements made by us are
subject to risks and uncertainties and are not guarantees of future
performance. These forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause our
actual results, performance and achievements or industry results to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. These statements are identified by the use of such
terms as "may," "could," "expect," "intend," "believe," "plan,"
"estimate," "forecast," "project," "anticipate," “to be,” “to make”
or other comparable terms. A full discussion of our operations and
financial condition, status of litigation matters, including
factors that may affect our business and future prospects, is
contained in documents we have filed with the United States
Securities and Exchange Commission, or SEC, and will be contained
in all subsequent periodic filings we make with the SEC. These
documents identify in detail important risk factors that could
cause our actual performance to differ materially from current
expectations.
Risk factors and uncertainties that could cause actual results
to differ materially from current and historical results include,
but are not limited to: effects of a highly competitive and
consolidating market; our dependence on third parties for the
manufacture and supply of our products; our dependence upon sales
personnel, customers, suppliers and manufacturers; our dependence
on our senior management; fluctuations in quarterly earnings; risks
from expansion of customer purchasing power and multi-tiered
costing structures; increases in shipping costs for our products or
other service issues with our third-party shippers; general global
macro-economic conditions; risks associated with currency
fluctuations; risks associated with political and economic
uncertainty; disruptions in financial markets; volatility of the
market price of our common stock; changes in the health care
industry; implementation of health care laws; failure to comply
with regulatory requirements and data privacy laws; risks
associated with our global operations; transitional challenges
associated with acquisitions and joint ventures, including the
failure to achieve anticipated synergies; financial risks
associated with acquisitions and joint ventures; litigation risks;
new or unanticipated litigation developments; the dependence on our
continued product development, technical support and successful
marketing in the technology segment; our dependence on third
parties for certain technologically advanced components; increased
competition by third party online commerce sites; risks from
disruption to our information systems; cyberattacks or other
privacy or data security breaches; certain provisions in our
governing documents that may discourage third-party acquisitions of
us; and changes in tax legislation. The order in which these
factors appear should not be construed to indicate their relative
importance or priority.
We caution that these factors may not be exhaustive and that
many of these factors are beyond our ability to control or predict.
Accordingly, any forward-looking statements contained herein should
not be relied upon as a prediction of actual results. We undertake
no duty and have no obligation to update forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20191021005312/en/
Investors Steven Paladino Executive
Vice President and Chief Financial Officer
steven.paladino@henryschein.com (631) 843-5500
Carolynne Borders Vice President, Investor Relations
carolynne.borders@henryschein.com (631) 390-8105
Media Ann Marie Gothard Vice
President, Corporate Media Relations
annmarie.gothard@henryschein.com (631) 390-8169
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