75th Anniversary - (Page 65)

C H A P T E R F O U R BUILDING CASTLES IN THE SKY At Henry Schein, forward momentum is always a team effort, and in 1995 Team Schein took a giant step on its evolutionary journey. “When our analysis told us it was time to access the public equity markets,” said Stan Bergman, “we decided to go public so that we could provide liquidity for the Schein family and fund our expansion with low-cost capital from the public markets.” To pull the initial public offering together, dozens of Team Schein Members from finance and legal worked tirelessly, together with attorneys at Proskauer Rose, auditors at BDO Seidman, and lead underwriter William Blair & Co. At the same time, Stan and CFO Steven Paladino embarked on a whirlwind “road show” to familiarize the financial community with Henry Schein. Over the course of a month, they visited 17 cities in the United States and 6 in Europe, giving from 5 to 10 presentations each day. They had a compelling story to tell. The largest direct marketer of healthcare products and services to office-based practitioners in the combined North American and European markets, Henry Schein was uniquely positioned for a public offering. With 14 new domestic and global acquisitions under its belt, the Company had extended its international reach to the United Kingdom, the Netherlands, France, Spain, Germany, Belgium and the Republic of Ireland. And, through ScheinDirect, it extended that reach to more than 100 countries worldwide. Henry Schein’s competitors were primarily field-based businesses with one way of talking to a customer. However, in 1991 in the Netherlands and in 1993 in the U.S., Henry Schein pioneered an integrated approach that combined field sales, telesales and direct marketing. In 1995 the Company pioneered electronic ordering with A RUBA®—the first Windows®-based electronic catalog and ordering system in the dental industry. Riding the growing E-commerce wave, www.henryschein.com made its debut in 1997. And, when it became clear that its customers needed more than low-priced, quality supplies and equipment, Henry Schein stepped decisively into value-added services. In addition, the Company treated customers and vendors as true partners who shared the strong desire to achieve mutual strategic objectives, a strategy founded upon the understanding that its customers were increasingly looking to Henry Schein as a partner to provide cost efficient, quality healthcare. The Company had essentially redefined the supply chain by forming an effective and efficient triangular partnership between its suppliers and customers. Facing page. Publicly listed. Executive Officers celebrate Henry Schein’s success in 2005. Left to right: Larry Gibson, Michael Racioppi, Michael Zack, Gerry Benjamin, Stanley Bergman, Mark Mlotek, Jim Breslawski, Leonard David, Stanley Komaroff, and Steven Paladino. Top. Growing forward. Stanley Bergman (left) and Steven Paladino (right) worked hard to acquaint the financial community with Henry Schein before taking the Company public. 65 http://www.henryschein.com

Table of Contents for the Digital Edition of 75th Anniversary

75th Anniversary
Table of Contents
Preface by Stanley Bergman
Chapter One: Planting the Seeds
Chapter Two: Jay—A Visionary Ahead of His Time
Chapter Three: The Turnaround Plan
Chapter Four: Building Castles in the Sky
Acknowledgement

75th Anniversary

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