KKR is Now a Partial Owner of Henry Schein

Henry Schein Inc. has closed a $250 million strategic investment from KKR and appointed a representative from the investment firm to its Board of Directors. With its share purchase—announced in January—KKR now owns 12% of Henry Schein stock.

In connection with the investment, William K. “Dan” Daniel, KKR executive advisor and former executive vice president of Danaher Corporation, has officially joined Henry Schein’s Board of Directors as an independent director. He joins Max Lin, a KKR partner and leader of the firm’s Health Care industry team in the Americas, who joined Henry Schein’s board on May 2.

“We are pleased to welcome Max and Dan to the Board as we embark on this next chapter for Henry Schein,” Henry Schein Board Chairman/CEO Stanley M. Bergman said. “Their deep experience in health care, operations, and strategic growth will be invaluable as we continue executing on our BOLD+1 strategy and creating long-term value for our stakeholders.”

Lin leads KKR’s Health Care industry team and since joining Henry Schein’s board, has overseen numerous investments in dental services and other healthcare providers, medical products and equipment, and healthcare software and information technology. Daniel has more than three decades of industrial and healthcare global leadership experience, including 14 years as executive vice president at Danaher, where he supervised multiple segments and played a key role in advancing the company’s culture and business system. Lin was appointed to Henry Schein’s Nominating and Governance Committee as vice Chair; Daniel joined the board’s Compensation Committee; and are now members of the Strategic Advisory Committee.

Henry Schein Inc. is a solutions company for healthcare professionals powered by a network of people and technology. With approximately 25,000 Team Schein Members worldwide, the company’s advisors provide more than 1 million customers globally with over 300 valued solutions that help improve operational success and clinical outcomes. Its 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 300,000 branded products and Henry Schein corporate brand products in its distribution centers. A FORTUNE 500 Company and a member of the S&P 500 index, Henry Schein is headquartered in Melville, N.Y., and has operations or affiliates in 33 countries and territories. The company’s sales reached $12.7 billion last year, and have grown roughly 11.2% annually since Henry Schein became a public company in 1995.

KKR is a global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit, and real assets, and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries.