January 30, 2025- Henry Schein, Inc. announced a strategic investment by funds affiliated with KKR, a leading global investment firm. In addition to KKR’s current holdings, KKR will make an additional $250 million investment in the Company’s common stock (the “Investment”). As a result, KKR will become the largest non-index fund shareholder in the Company with a 12% position, demonstrating the firm’s confidence in Henry Schein, its management team, and its BOLD+1 strategy. KKR will also have the ability to purchase additional shares via open market purchases up to a total equity stake of 14.9% of the outstanding common shares of the Company.
In addition, under the agreement between Henry Schein and KKR, Max Lin and William K. “Dan” Daniel will join Henry Schein’s Board of Directors (the “Board”) as independent directors. Mr. Daniel, an executive advisor to KKR and former Executive Vice President at Danaher Corporation, will join the Board’s Compensation and Strategic Advisory Committees.
Separately, the Board has appointed Robert J. “Bob” Hombach as an independent director. Mr. Hombach, former Executive Vice President, Chief Financial Officer and Chief Operations Officer of Baxalta Inc. and prior to this, Corporate Vice President and Chief Financial Officer of Baxter International Inc., is expected to join the Board’s Strategic Advisory Committee.
Together, Henry Schein and KKR will collaborate to pursue additional opportunities to create shareholder value and drive the business in its next phase of growth, with a specific focus on strategic growth, operational excellence, capital allocation, and employee engagement, including exploring broad-based equity ownership.