MELVILLE, N.Y. - Henry Schein , Inc. (NASDAQ:HSIC), a prominent provider of healthcare solutions to dental and medical practitioners, today announced the appointment of three new members to its Executive Management Committee (EMC (NYSE:EMC_old)).
Steve Boggan and Bianka Wilson, recently named Co-CEOs of the company's Global Oral Reconstruction Group (GORG), and Tom Popeck, CEO of the Healthcare Specialties Group (HSG), will join the EMC to help advance the company's strategic objectives.
GORG is responsible for the company's implant lines and biomaterial products, while HSG focuses on manufacturing brands in endodontics, orthodontics, and orthopedics. These sectors are integral to Henry Schein's BOLD+1 strategic plan, which aims to grow higher-margin specialty products and services.
Steve Boggan has been with Henry Schein since 2013, following the acquisition of BioHorizons, where he served as President and CEO since 1999. In his new role as Co-CEO of GORG, Boggan will oversee commercial operations in the Americas and the Middle East, as well as global marketing.
Bianka Wilson joined the company in 2018 with a strong background in finance and consulting. Before her time at Henry Schein, she was the Group CFO of Ascom Holding AG and had a long tenure at KPMG. Wilson, who previously served as CFO of GORG, will now lead strategy, finance, human resources, and operations in Europe and the Asia-Pacific region as Co-CEO.
Tom Popeck came to Henry Schein in 2019, bringing over 20 years of experience in sales leadership and general management in the medical device sector. His experience includes 11 years at Stryker (NYSE:SYK), where he held various leadership roles. Promoted to President of the Healthcare Specialties Group in 2023, Popeck brings his expertise to the EMC.
Henry Schein, Inc., a Fortune 500 company, serves more than 1 million customers globally and has a product selection exceeding 300,000 branded and private-brand products. The company reported sales of $12.3 billion in 2023 and has seen consistent growth since going public in 1995. With operations in 33 countries, Henry Schein continues to expand its global footprint.
The inclusion of the new EMC members is expected to enhance the leadership team's capabilities in navigating the evolving healthcare marketplace and in reinforcing customer relationships through the company's diverse offerings. This information is based on a press release statement from Henry Schein, Inc.
InvestingPro Insights
As Henry Schein, Inc. (NASDAQ:HSIC) continues to expand its leadership team and execute its BOLD+1 strategic plan, the company's financial and market performance remains a key focus for investors. With a market capitalization of approximately $9.23 billion and a Price to Earnings (P/E) ratio standing at 19.4 based on the last twelve months as of Q4 2023, the company reflects a stable valuation in the healthcare industry.
An important aspect of Henry Schein's strategy is the management's active role in share buybacks, as noted in one of the InvestingPro Tips, which indicates a commitment to enhancing shareholder value. Still, it is worth noting that nine analysts have revised their earnings estimates downwards for the upcoming period, signaling potential challenges ahead. Despite this, the company's stock is characterized by low price volatility, which may appeal to investors looking for stability in their portfolio.
In terms of profitability, Henry Schein has been successful over the last twelve months, and analysts predict the company will maintain profitability this year. The company does not pay a dividend, which aligns with its strategy of reinvesting earnings back into the business to fuel growth and share repurchases.
Investors interested in a deeper dive into Henry Schein's performance and strategic positioning can find additional InvestingPro Tips at https://www.investing.com/pro/HSIC. There are currently 7 additional tips available, providing a comprehensive analysis of the company's prospects. For those looking to subscribe, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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