Henry Schein (NSDQ:HSIC) said today that it closed its acquisition of survivability and casualty-care medical product maker North American Rescue. The Melville, N.Y.-based company said that NAR reported sales of approximately $184 million for the 12 months ended October 31, 2018. The company said that it expects the acquisition to be neutral to its 2019 earnings […]
Henry Schein shares drop on mixed bag Q4 earnings
Shares in Henry Schein (NSDQ:HSIC) fell today after the medical device maker posted fourth quarter and full year 2018 earnings that beat earnings per share expectations but missed on revenue consensus. The Melville, N.Y.-based company posted profits of approximately $133 million, or 87¢ per share, on sales of approximately $3.38 billion for the three months ended […]
Henry Schein closes spinout of Covetrus animal health biz
Henry Schein (NSDQ:HSIC) said today it is on track to complete the spinout of its animal health business, Covetrus, which is slated to close today with shares in the company beginning trading tomorrow on the Nasdaq Global Select Market. The Melville, N.Y.-based company said that its common stock won approval for listing on the Nasdaq Global […]
Henry Schein pushes back date for animal health spinout
Henry Schein (NSDQ:HSIC) said today that it is shifting the date for the spin-out of its animal health business, now dubbed “Covetrus,” from February 4 to February 7. The change was implemented by the Melville, N.Y.-based company’s board of directors, according to company press release. The new date reflects the new anticipated date for distribution of shares […]
Henry Schein sets timetable on $5B Covetrus animal health spinout
Henry Schein (NSDQ:HSIC) yesterday set the timetable for the spinout of its animal health business in a merger with Vets First Choice, branding the soon-to-be-public company as Covetrus. The Melville, N.Y.-based dental products giant set the record and distribution dates for the spinout, first announced last April. Covetrus is slated to trade on the NASDAQ exchange beginning […]
Analyst downgrades pressure medtech stocks
Several medical device companies took hits yesterday after analysts on Wall Street downgraded their stocks, on a day when the major market indices each closed up a hair, and even medtech firms that enjoyed upgrades came under pressure. Globus Medical (NYSE:GMED) suffered the most after Morgan Stanley analyst David Lewis cut his rating on the stock from […]
Boston Scientific sues Micro-Tech over endo clip patents
Boston Scientific has filed a lawsuit against Micro-Tech USA and its Chinese manufacturer, Micro-Tech Nanjing, alleging that Micro-Tech infringed three of its patents for endoscopic hemostatic clips. Boston Scientific claims that Micro-Tech’s SureClip hemostasis clip products infringe the patents for its Resolution and Resolution 360 clips, which are designed to control gastrointestinal bleeding. Henry Schein (Melville, N.Y.) is […]
Henry Schein to settle anti-trust class action for $39m
Henry Schein (NSDQ:HSIC) said today it expects to pay approximately $38.5 million to settle an anti-trust class action suit related to dental supplies. The case, which was filed in the US District Court for the Eastern District of New York, alleges that the defendants violated anti-trust rules by fixing prices on dental equipment and supplies, as […]
Henry Schein shares rise on Street-beating Q2
Shares in Henry Schein (NSDQ:HSIC) rose today after the medical company beat expectations on Wall Street with its second quarter earnings results. The Melville, N.Y.-based company posted profits of $141.2 million, or 92¢ per share, on sales of $3.3 billion for the three months ended June 30, seeing profits grow 3.8% while sales grew 8.7% compared […]
Layoffs likely ahead at Henry Schein in latest move
Henry Schein (NSDQ:HSIC) said yesterday that it’s planning more changes for its business after announcing the spinout of its animal health business and a joint venture for its dental software operation earlier this year. In a terse regulatory filing yesterday, Melville, N.Y.-based Schein said it’s “committed to an initiative to rationalize its operations and provide […]
Henry Schein, Internet Brands form dental-software focused JV Henry Schein One
Henry Schein (NSDQ:HSIC) said yesterday that it and Internet Brands formed joint venture Henry Schein One, which aims to produce integrated dental technology focused on improving practice management, marketing and patient communication. The deal was originally announced on April 3, Melville, N.Y.-based Henry Schein said, and financial terms of the agreement have not been disclosed. “With […]
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