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Henry Schein Dentrix history
Henry Schein Dentrix company history timeline
Since Henry Schein opened his pharmacy in Queens, New York in 1932, our organization has become a Fortune 500® Company and the largest provider of health care products and services to office-based dental and medical practitioners.
Henry Schein, a pharmacist, and his wife Esther founded the eponymous company in 1932 as a corner drugstore in the Woodside community of New York City's borough of Queens.
In 1964 a federal prosecutor filed a criminal complaint against Schein, who was charged with selling bottles containing counterfeit Dexedrine capsules to three out-of-state pharmacies.
During this period Schein, which had purchased a Connecticut pill producer in 1970, also became an important manufacturer and distributor of generic drugs.
1971 Company focuses on dental practitioners, concentrating on operational excellence and discounted prices.
1980 Jay Schein becomes Chairman and CEO of Henry Schein, Inc., beginning a new period of record growth and prosperity for the Company.
After Schein's son Jacob, a Wall Street attorney, joined the company in 1980, it began automating distribution.
1984 Company becomes first in the industry to fully automate the distribution cycle.
In 1985 it formed a subsidiary, Schein Pharmaceutical, Inc., to serve retail and hospital pharmacies.
Within a decade, the company was dominant in its field and by 1988 controlled more than 40 percent of the mail order market for dental supplies.
In the mid-1980s the firm introduced two interactive methods to enable dentists to file orders for supplies at any time of day or night, either by telephone or computer. It also issued one of the first affinity credit cards and, in 1988, developed a frequent-buyer program at a time when such incentives were confined to airlines.
1989 Stanley Bergman becomes Chairman and CEO of Henry Schein following the untimely death of Jay Schein;
By this time Schein was being run by Bergman, who became chief executive officer after Jacob Schein's premature death from cancer in 1989.
1990 Henry Schein begins international expansion (The Netherlands, United Kingdom, and Spain).
Another way that Henry Schein differentiated itself from its competitors was to start focusing on European markets in 1990, when it opened its first foreign subsidiary, in The Netherlands.
By mid-1991 the company had established three more such foreign operations—in England, Germany, and Spain.
Computer-telephone integration, installed in 1992, allowed agents to send a computer profile, simultaneously with the call, to the first available agent.
1994 Company leads the industry with a dental practice-management software system; electronic claims processing is offered.
By late 1994 Schein was selling products in more than 140 countries.
Schein had, in 1994, moved its headquarters and telemarketing office to a three-story leased building in Melville, accepting financial and tax incentives from the state of New York, Suffolk County, and Long Island Lighting Company to remain on the island.
1995 Henry Schein is listed on Nasdaq Marketplace (HSIC), raising $72.8 million in the initial public offering; acquires Veratex.
Jacob's brother Marvin became head of the company's dental equipment division in 1995, after it purchased Schein Dental Equipment Corporation, a separate company that had been founded by Marvin Schein.)
In July 1996 it raised an additional $124.1 million by selling more stock at $35 a share.
In 1996 the company opened a 25,000-square-foot retail outlet near Miami International Airport to cater to the Caribbean and Latin American health care markets.
1997 Company becomes largest healthcare distributor serving office-based practitioners.
The biggest of these was H. Meer Dental Supply Company, a Michigan-based dental distributor with 1997 sales of about $180 million that was purchased for stock valued at $145.5 million.
Schein was selling products to more than 75 percent of the estimated 100,000 dental practitioners in the United States in 1998.
1999 Henry Schein acquires:
In the fall of 2000, the company sold its half interest in dental anesthetic manufacturer HS Pharmaceutical Inc.
In January 2001, the company introduced its new website www.henryschein.com for the use of all of its customers.
"Henry Schein Celebrates 70 Years of Innovation and Dedication to Excellence in Customer Service by Opening Nasdaq Trading," Business Wire , March 7, 2002.
2003 Henry Schein acquires:
2004 Henry Schein debuts on Fortune 500®; introduces Tomorrow's Dental Office Today (TDOT); Sales: $3.9 Billion; 9,600 TSMs.
2005 Henry Schein celebrates 10 years as a publicly traded company.
2006 Henry Schein is ranked Number 1 in the industry for social responsibility; Sales: $5.15 Billion; more than 11,000 TSMs.
Ethisphere Announces Henry Schein, Inc. as One of the 2021 World's Most Ethical Companies for the 10th Time
Henry Schein Earns Top Score in Human Rights Campaign Foundation's 2022 Corporate Equality Index, and for the 7th consecutive year, Henry Schein has been designated one of the Best Places to Work for LGBTQ+ Equality by the Human Rights Campaign Foundation
Ethisphere Announces Henry Schein, Inc. as One of the 2022 World's Most Ethical Companies for the 11th Time
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