Henry Schein Inc. SWOT & PESTLE Analysis
ID : 521022553| May 2023| 24 pages
COMPANY PROFILE -Henry Schein Inc.
Business Sector :Dental and Medical Product and Service Provider
Operating Geography :United States, North America, Global
About Henry Schein Inc. :
Henry Schein, Inc. Is an American trader of health care products and services with an existence in 32 countries. The company is headquartered in Melville, New York, US. In 1932, Henry Schein who was a graduate of Columbia University borrowed $500 and opened a pharmacy in Queens, New York. In 1960, the company expanded its dental supplies and by 1980s, 10 percent of the dental-supply market was held by Henry Schein. In 1997, the company agreed to buy Sullivan Dental Products Inc. for approximately $318 million. This made Henry Schein, the largest distributor of dental equipment and supplies in the world. Dentrix Ascend which is a scalable system is a Henry Schein’s cloud-based software designed for dental offices. Its interface was constructed to be intuitive and the company works with users to include features required in dental offices. The company announced a strategic arrangement with Cardinal Health in 2019. Henry Schein also produces software which is used in veterinary practices build to improve communication and data management including the online cloud-based application. The Ethisphere Institute has recognised Henry Schein as the World’s Most Ethical Company. On March 2022, Henry Schein announced that a new version of Jarvis Analytics, its market-leading dental analytics platform for dental service organisations (DSOs), is now available for private practises. Jarvis Analytics for Private Practices, which debuted at the Chicago Midwinter Dental Meeting, assists dental teams in maximising data in order to make more informed, strategic decisions that impact operational success.
Henry Schein’s Unique Selling Proposition or USP lies in being ranked number one in its industry for social responsibility by Fortune Magazine. The company’s mission statement reads, “To provide innovative, integrated health care products and services and to be trusted advisors and consultants to our customers enabling them to deliver the best quality patient care and enhance their practice management efficiency and profitability.”
Henry Schein Inc. Revenue :
US$ 12,401 million - FY ending 26th December 2021 (y-o-y growth 22.6%)
US$ 10,119.1 million - FY ending 25th December 2020
Competitive Analysis of Henry Schein Inc.
SWOT
PESTLE
The SWOT analysis for Henry Schein Inc. is presented below in a matrix followed by the detailed analysis report:
| Strengths | Weaknesses |
| 1. Largest provider of healthcare solutions 2. Unique combination of diversified business through IT services 3. Providing affordable yet agile solutions to medical practitioners with limited resources 4. Expertise in using multiple mediums of sales and marketing 5. Value addition to consumers through service support apart from sales 6. Focus on affordable yet swift and smooth customer support | 1. Higher dependence on dental solutions 2. Monumental law violations scrapping profit |
| Opportunities | Threats |
| 1. Fresh opportunity for healthcare services to in Covid era 2. Growth of aging population and cost optimization of medical expenses promotes distribution | 1. Competition from peers and manufacturers 2. Decline of patients’ turnover due to Covid |
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Detailed SWOT Analysis of Henry Schein Inc.
Strength
1. Largest provider of healthcare solutions: Henry Schein is the world’s largest health care solution provider. It provides products and services required for office based dental and medical treatment. The company is known more for its products and services for dental treatment segment. The company provides its solutions for dental and medical practitioners, hospitals, clinics, diagnostic centers, etc. Henry Schein offers more than 120000 branded products, both in-house and third-party products, with demand support of additional 180000 products. The company concentrates its services to the niche category of medical professionals only. The company operates in 31 countries, namely, Australia, Austria, Belgium, Brazil, Canada, Chile, China, the Czech Republic, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Liechtenstein, Luxembourg, Malaysia, the Netherlands, New Zealand, Poland, Portugal, Singapore, South Africa, Spain, Sweden, Switzerland, Thailand, United Arab Emirates, the United Kingdom, the United States of America. It had a strong 21600 workforce by the end of FY21 globally, with more than 50% of the workforce active outside USA. Henry Schein practices sales and marketing through its strong force of sales representatives, distributors, as well as ecommerce. It also provides tech-based consultancy tools and software related to medical education and patient tracking. 2. Unique combination of diversified business through IT services: Henry Schein understands the value of IT in the rapidly changing world. The decision provides all kinds of software and technology-based value-added services required by medical practitioners. It includes software related to practice management, medical education management, financial management for medical and dental enterprises and e-services for medical practitioners. All the technology tools provide services like patient health history recording and tracking, billing, service support, intimation of latest development in medical equipment and medication, etc. By the end of 2021, Henry Schein had more than 374000 customers of technology solutions. The software offerings include Dentrix Dental System, Ascend, Easy Dental, Power Practice, Endo Vision and many more. The remaining section under "Strength" is available only in the 'Complete Report' on purchase.Weakness
This section is available only in the 'Complete Report' on purchase.Opportunity
This section is available only in the 'Complete Report' on purchase.Threat
This section is available only in the 'Complete Report' on purchase.Major Competitors :
- McKesson Corporation
- Patterson Companies, Inc.
- Benco Dental Supply Company
- Medline Industries, Inc.
- Quality Systems, Inc.
- eClinicalWorks
- Allscripts Healthcare Solutions, Inc.
- Pluradent AG & Co.
- Lifco AB
- Planmeca Oy
Major Brands :
- Henry Schein
- Henry Schein Dental
- Henry Schein Special Markets
- Henry Schein Orthdontics
- Henry Schein Medical
- Henry Schein MicroMD
- Zahn Dental Laboratories
- Camlog
- BioHorizons
- Ortho Technology
- 340B Programs
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References used in Henry Schein Inc. SWOT & PESTLE Analysis Report
1. Annual Report 2021 - https://investor.henryschein.com/static-files/09379ad7-9ff1-4ca7-a0fc-8293bded568d
2. Henry Schein | Violation Tracker - https://violationtracker.goodjobsfirst.org/parent/henry-schein
3. Healthcare Information Software Market | Size, Share, Growth, Trends | Industry Analysis | Forecast 2025 | Technavio - https://www.technavio.com/report/healthcare-information-software-market-industry-analysis
4. Henry Schein, Inc. - https://www.henryschein.com/us-en/images/corporate/pr-covid-19-test-final-03.26.2020a.pdf
5. FTC judge rules on conspiracy allegations involving Henry Schein, Benco, Patterson - https://www.ada.org/en/publications/ada-news/2019-archive/october/ftc-judge-rules-on-conspiracy-allegations
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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Henry Schein, Inc. SWOT and PESTLE analysis has been conducted by Tej Narayan Shaw and reviewed by senior analysts from Barakaat Consulting.
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Henry Schein Inc. SWOT & PESTLE Analysis
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