Schein Rings in 70th Year
Edition: April 2002 - Vol 10 Number 04
Commemorating its 70th anniversary, Henry Schein Inc. opened trading on the Nasdaq stock market on March 7 in a ceremony led by the company's chairman, CEO and president, Stanley Bergman. The company, which began trading on Nasdaq in 1995, is a $2.6 billion global distributor of healthcare products and services.
Henry Schein was formed in 1932 by Henry and Esther Schein, when they opened a retail pharmacy in Queens, New York. In the 1950s, the company shifted its focus from the consumer to the office-based practitioner. In the 1960s, the business expanded and Schein began offering merchandise through the Henry Schein catalog. The 1970s brought a new generation of leadership, with Henry's son Marvin taking over for his father. It also brought a significant focus on selling merchandise to dental practices, and the implementation of automated distribution systems. In the 1980s, Jay Schein, Henry's oldest son, became chairman and CEO, leading the company into electronic ordering, veterinary dentistry and infection control. In 1989, Jay Schein passed away and Stanley Bergman became chairman, CEO and president.
Henry Schein opened its first international facility in The Netherlands in 1990, and its second U.S. distribution center in Indianapolis in 1991. Today, the company has operations in 16 countries, with six primary distribution centers in North America and seven throughout Europe and the Pacific Rim. It has 1,200 field sales consultants, who serve more than 400,000 customers worldwide, including dental practices and laboratories, physician practices and veterinary clinics, as well as government and other institutions.