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Doing Well by Doing Good: Henry Schein's Model of Social Responsibility

Posted on May 19, 2014

MELVILLE, N.Y., May 19, 2014 /PRNewswire/ -- Henry Schein, Inc. (NASDAQ: HSIC), the world's largest provider of health care products and services to office-based dental, animal health and medical practitioners, announced today that Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein, delivered a lecture, entitled "Doing Well by Doing Good: Henry Schein's Model of Success and Social Responsibility," at the Hofstra University Club as part of Hofstra's Distinguished Lecture Series. In attendance at Mr. Bergman's May 15 lecture were students from the Frank A. Zarb School of Business at Hofstra University, Long Island business executives, and local government officials.

Mr. Bergman emphasized Henry Schein's focus on creating sustainable, long-term economic and social value as part of its commitment to serving the needs of all of the Company's key constituencies: supplier partners, customers, Team Schein Members, investors, and society. Mr. Bergman explained how the Company's model of corporate success is based on building deep, trust-based relationships in the service of society as well as economic success.  Mr. Bergman also highlighted the work of Henry Schein Cares, the Company's global corporate social responsibility program, to expand access to care for underserved populations around the world.

"Henry Schein has long-recognized that strong financial performance and service to the greater good are mutually reinforcing objectives," said Mr. Bergman.  "Our philosophy of enlightened self-interest inspires us to continuously reinvent ourselves in the service of our customers and society through Henry Schein Cares, and has truly been a central vehicle driving our corporate success.  Short-term thinking delivers short-term results, but the key to the creation of long-term shared value lies in viewing businesses as stewards of the full-spectrum of constituencies it serves."

The Company's commitment to corporate citizenship is guided by the philosophy of enlightened self-interest, the concept of "doing well by doing good," which Benjamin Franklin advocated centuries ago, and is exemplified by Henry Schein Cares.  Established in 2001, Henry Schein Cares focuses on expanding access to care for underserved populations by advancing wellness, building capacity in the delivery of health care services, and assisting in emergency preparedness and disaster relief.  As a catalyst organization, Henry Schein Cares expands access to care by utilizing the power of public-private partnerships.  Through public-private partnerships, Henry Schein Cares harnesses Henry Schein's core competencies as a health care distributor and mobilizes various stakeholders, including government, health care professionals, and non-governmental organizations, to contribute their unique skill sets and resources. 

"Henry Schein is truly an exemplar for championing corporate citizenship and for advancing the notion that companies can still be profitable while also doing good," said Stuart Rabinowitz, Hofstra University President.  "The Hofstra student community, which includes tomorrow's business leaders, can draw insight from Henry Schein's dedication to corporate social responsibility, motivating our students to create their own examples of social responsibility in their professional lives."

In 2014, for the 13th consecutive year, Henry Schein was named to the FORTUNE® World's Most Admired Companies list.  In this year's FORTUNE selection, Henry Schein was ranked first in the category of Wholesalers: Health Care, and also ranked first in each of the nine sub-categories of the ranking, including: Innovation, People Management, Use of Corporate Assets, Social Responsibility, Quality of Management, Financial Soundness, Long-Term Investment, Quality of Products/Services, and Global Competitiveness.  This year also marked the third consecutive year that Henry Schein was honored as a World's Most Ethical Company® by the Ethisphere Institute.  Henry Schein was recently featured in a Harvard Business School case study, which examined the growth and success of Henry Schein, its commitment to corporate social responsibility, and the Company's determination to preserve its values-based culture as it continues to expand internationally.