Henry Schein Releases its 2023 CARES Report

Henry Schein Releases its 2023 CARES Report | Image Credit: © Henry Schein, Inc.

Henry Schein, Inc. released its 2023 CARES Report on Sustainability and Corporate Citizenship last week and it highlights the health care solutions company's efforts to promote responsible business practices and create value for each of its stakeholders – Team Schein Members, customers, suppliers, investors, and society.

The world’s largest provider of health care solutions to office-based dental and medical practitioners reported on its sustainability efforts in 2023 in accordance with Sustainability Accounting Standards Board and Global Reporting Initiative Standards, as well as with the Task Force on Climate-related Financial Disclosures and the Greenhouse Gas Protocol.

Henry Schein Cares, the company’s global corporate citizenship program, aims to drive positive change through its 5 pillars:

• Catalyzing health care access;
• Advancing policies, solutions and innovation;
• Relationship-building for change;
• Empowering Team Schein; and
• Sustaining the planet.

Key progress on its 2023 goals and commitments, according to Henry Schein, includes, but is not limited to:

• Submitted near- and long- term targets, committing to Net Zero by 2050 to the Science-Based Targets initiative (SBTi), from a 2022 base year;
• Achieved a recycling goal (10%) by increasing the North American distribution recycling program by 28.8% over 2020 metrics;
• Expanded its Diversity and Inclusion (D&I) learning journey by educating Team Schein Members on key D&I topics (66% of Directors and Vice Presidents, and 79% of U.S. Managers);
• Donated more than $40 million in cash and product to hundreds of global charitable partners;
• Increased the percentage of independent directors (from 71% to 85%) and female directors (from 21% to 31%) on the Henry Schein Board;
• Updated the company’s Worldwide Business Standards and issued its Global Principles on Data Protection and Security and the Responsible Use of AI Systems;
• Launched a new Corporate Citizenship Barometer to better understand and quantify how key stakeholders perceive its sustainability priorities, commitments, and impact.

“At Henry Schein, we envision a future where our innovation, leadership, and trusted partnerships inspire and generate positive impact across the health care ecosystem, ensuring a more sustainable and healthier future for generations to come,” Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein, says in a press release. “This report reflects Henry Schein’s 92-year history of serving as a good corporate citizen because we believe that the foundation of our success – a culture built on care – fosters not only business prosperity but also a more sustainable world. We remain dedicated to fulfilling our commitments and strengthening trust with our constituencies.”

According to the report, Henry Schein had a global net sales of $12.3 billion in 2023, 61% ($7.5 billion) of which came from its dental business. Growth opportunities for the dental business include a greater penetration of specialty markets, continued focus on large group practices, and advancing technology solutions.

To view the full 2023 CARES Report, click here.

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 their distribution centers. The company’s business, clinical, technology, and supply chain solutions are designed to help office-based dental and medical practitioners work more efficiently and to provide optimal quality care more effectively. These solutions also support dental laboratories, government and institutional health care clinics, as well as other alternate care sites, the company states.