HENRY SCHEIN INC
For the period ended Dec 28, 2024. Filed Feb 25, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 25, 2025
What changed in Risk Factors?
Read the current filingPrevious report: 10-K
Period ended 2023-12-30; filed 2024-02-28.
0001000228-24-000011
ITEM 1A. Risk FactorsCurrent report: 10-K
Period ended 2024-12-28; filed 2025-02-25.
0001000228-25-000014
ITEM 1A. Risk FactorsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 1463 previous paragraphs and 1325 current paragraphs.
471 unchanged; 342 reworded; 474 added; 622 removed; 28 previous and 38 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (474)
Current report
where we manufacture products, we are dependent upon third parties
Current report
Additionally, where we are the manufacturer of certain dental specialty products we sell
Current report
in the areas of oral surgery, implants, orthodontics and endodontics, we are dependent upon third parties for raw
Current report
delays caused by interruption in production based on conditions outside
Current report
have experienced increased costs and shortages of purchased components,
Current report
profit margins and on our sales for certain product categories, due to our inability
Current report
We may be unsuccessful in achieving our strategic growth objectives.
Current report
Our 2022 – 2024 BOLD+1 Strategic Plan is defined under “Business, Business
Current report
continue to execute the BOLD+1 strategic priorities with the next evolution
Current report
are focused on continuing to grow our Henry Schein specialty brands
Current report
solutions both organically and inorganically, and to drive greater efficiencies.
Current report
implement our strategic plan, we may not achieve our desired return on our
Current report
Our business could be affected by the recently signed Strategic Partnership Agreement.
Current report
On January 29, 2025, we announced a strategic investment by
Current report
leading global investment firm, and a Strategic Partnership Agreement (the “Partnership
Current report
In addition to KKR’s current holdings, KKR will make an additional $250 million investment in the
Current report
As a result, KKR will become the largest non-index fund stockholder of the Company
Current report
KKR will also have the ability to purchase additional shares
Current report
a total equity stake of 14.9% of the outstanding common shares of
Showing the first 40 of 474 passages. Open the source sections for the rest.
Removed paragraphs (622)
Previous report
Forced labor legislation affecting the supply chain has increased around
Previous report
recently passed the Uyghur Forced Labor Prevention Act.
Previous report
Our supply chain could be materially disrupted if our
Previous report
suppliers fail to comply with, or are unable to satisfy our demand
Previous report
for products, as a result of applicable forced labor
Showing the first 40 of 622 passages. Open the source sections for the rest.
Reworded paragraphs (342)
Previous wording
risks could have a material adverse impact on our business, reputation, financial
Current wording
risks could have a material adverse impact on our business, reputation, operating
Previous wording
We are dependent upon third parties for the manufacture and supply of a significant volume of our products.
Current wording
We are dependent upon third parties for the manufacture and supply of a significant volume of our products and
Previous wording
In 2023, our top 10 health care distribution suppliers
Current wording
In 2024, our top 10 Global Distribution and Value-
Previous wording
and our single largest supplier accounted for approximately 25% and 4%, respectively, of our aggregate purchases.
Current wording
Added Services suppliers and our single largest supplier accounted for approximately
Previous wording
Because of our dependence upon such suppliers, our operations are
Current wording
Because of our dependence upon such suppliers, our operations
Previous wording
subject to the suppliers’ ability and willingness
Current wording
to the suppliers’ ability and willingness to supply products in the quantities
Previous wording
to supply products in the quantities that we require, and the risks include delays
Previous wording
production based on conditions outside of our control, including
Previous wording
government requirements (which may result in product recalls and/or
Current wording
result in product recalls and/or cessation of sales)
Current wording
or an interruption in the suppliers’ manufacturing capabilities.
Previous wording
In the event of any such interruption in supply, we would need to identify
Current wording
In the event of any such interruption in supply, we
Previous wording
and obtain acceptable replacement sources on a timely basis.
Current wording
would need to timely identify and obtain acceptable replacement sources.
Previous wording
There is no guarantee that we would be able to obtain
Previous wording
such alternative sources of supply on a timely basis, if at all, and an extended
Current wording
able to obtain such alternative sources of supply on a timely basis,
Previous wording
a high-sales volume product, could result in a significant disruption in our
Current wording
particularly of a high-sales volume and/or high-margin product, could result in a
Current wording
and operations, as well as damage to our relationships with customers
Previous wording
(particularly for our technology and value-added services segment)
Previous wording
Our ability to anticipate customer needs and emerging trends and develop or acquire
Current wording
Our ability to anticipate customer needs and emerging trends and
Previous wording
new products, services and technologies at competitive prices requires significant
Current wording
develop or acquire new products, services and technologies at competitive
Previous wording
with the requisite skills, experience and expertise, particularly in our
Current wording
including employees with the requisite skills, experience and expertise, particularly
Current wording
segment, including dental practice management, patient engagement
Previous wording
management, patient engagement and demand creation software solutions.
Current wording
failure to successfully address these challenges could materially disrupt
Previous wording
One of our business strategies has been to expand our domestic and
Current wording
One of our business strategies has been to expand in part through acquisitions
Previous wording
acquisitions and joint ventures and we expect to continue to make acquisitions
Current wording
continue to make acquisitions and enter into joint ventures in the future.
Previous wording
We cannot be sure, for example, that we will achieve the benefits of
Current wording
We cannot be sure, for example, that we will achieve the benefits of revenue growth that we expect from
Current wording
these transactions or that we will avoid unforeseen additional costs, taxes,
Previous wording
Our ability to successfully implement our acquisition and joint venture
Current wording
implement our acquisition and joint venture strategy depends upon,
Previous wording
our ability to successfully integrate these companies’ operations, services,
Current wording
our ability to successfully integrate these companies’ operations, systems,
Previous wording
our culture, management policies, legal, regulatory, and compliance policies, cybersecurity systems and
Current wording
with our culture, management policies, legal, regulatory and compliance
Previous wording
policies, internal procedures, working capital management, financial,
Current wording
and cybersecurity systems and policies, internal procedures, working capital
Previous wording
Additionally, when we decide to sell assets or a business, we may encounter difficulty in finding buyers or
Current wording
Additionally, when we decide to sell assets or a business, we may
Previous wording
Dispositions may also involve continued financial involvement
Current wording
Dispositions may also involve continued financial
Previous wording
such as through transition service agreements, indemnities or other current
Current wording
involvement in a divested business, such as through transition service agreements,
Previous wording
third parties from seeking to acquire us that might otherwise result in
Current wording
third parties from seeking to acquire us that might otherwise result
Showing the first 40 of 342 pairs. Open the source sections for the rest.
Rearranged current paragraphs (38)
Current report — wording carried from elsewhere
to comply with applicable government requirements (which may
Current report — wording carried from elsewhere
if at all, and an extended interruption in supply,
Current report — wording carried from elsewhere
which has had a negative impact on our
Current report — wording carried from elsewhere
If we are unable to effectively
Current report — wording carried from elsewhere
have a material adverse effect on our business, financial condition, or operating
Current report — wording carried from elsewhere
encounter difficulty in finding buyers or timely executing alternative exit strategies
Current report — wording carried from elsewhere
that such sales could materially adversely affect our relationships with suppliers.
Current report — wording carried from elsewhere
could have a material adverse effect on our
Current report — wording carried from elsewhere
Information security risks have significantly increased
Current report — wording carried from elsewhere
our IS and data, and our defenses are
Current report — wording carried from elsewhere
systems and our general computer controls
Current report — wording carried from elsewhere
to protect against, or to address problems caused
Current report — wording carried from elsewhere
cyber hackers as a result of the October 2023 incident.
Current report — wording carried from elsewhere
could have a material adverse effect on our business, financial condition or operating
Current report — wording carried from elsewhere
business, financial condition or operating results.
Current report — wording carried from elsewhere
has been increased scrutiny on drug pricing and concurrent efforts to control or
Current report — wording carried from elsewhere
which could subject our businesses to
Current report — wording carried from elsewhere
for noncompliance with respect to these products.
Current report — wording carried from elsewhere
tracking to product manufacturers, product labeling,
Current report — wording carried from elsewhere
additional laws and regulations, could materially adversely affect our business.
Current report — wording carried from elsewhere
complying with the various applicable statutes and regulations, as they now
Current report — wording carried from elsewhere
material adverse effect on our businesses.
Current report — wording carried from elsewhere
has not been subsequently withdrawn may
Current report — wording carried from elsewhere
the physician (or family member) has a financial
Current report — wording carried from elsewhere
(for example, durable medical equipment and
Current report — wording carried from elsewhere
States (and if applicable, particular states) under applicable false claims
Current report — wording carried from elsewhere
monitor, which could have a material adverse effect on our business.
Current report — wording carried from elsewhere
applied by a prosecutorial, regulatory or judicial authority in a
Current report — wording carried from elsewhere
operations or incur substantial defense and settlement expenses.
Current report — wording carried from elsewhere
could impact our financial results, including,
Current report — wording carried from elsewhere
adequate compliance programs and controls in place to ensure substantial
Current report — wording carried from elsewhere
health data), such as HIPAA, CAN-SPAM,
Current report — wording carried from elsewhere
continually evolving and subject to potentially
Current report — wording carried from elsewhere
5% of the annual revenue of
Current report — wording carried from elsewhere
such requirements could have an adverse impact on our business.
Current report — wording carried from elsewhere
and we may be required to make significant changes to our solutions and
Current report — wording carried from elsewhere
as a result of other disasters,
Current report — wording carried from elsewhere
protective equipment (PPE), test kits and
Rearranged previous paragraphs (28)
Previous report — wording carried elsewhere
a supplier’s failure to comply with applicable
Previous report — wording carried elsewhere
to our relationships with customers and our reputation.
Previous report — wording carried elsewhere
revenue growth that we expect from these acquisitions or joint ventures
Previous report — wording carried elsewhere
our business, financial condition or operating results.
Previous report — wording carried elsewhere
medical and dental records, certain of our IS stores
Previous report — wording carried elsewhere
and other information related to our
Previous report — wording carried elsewhere
or other similar events that could impact
Previous report — wording carried elsewhere
affected parties and/or governmental agencies,
Previous report — wording carried elsewhere
attention of management, and caused the
Previous report — wording carried elsewhere
effectively respond to changes on a
Previous report — wording carried elsewhere
The strengthening of the dollar, likewise, has impacted
Previous report — wording carried elsewhere
make scheduled payments or obtain credit,
Previous report — wording carried elsewhere
apply to some of our operations, that
Previous report — wording carried elsewhere
is subject to regulation as a
Previous report — wording carried elsewhere
requirements, costs and potential enforcement actions or liabilities for noncompliance
Previous report — wording carried elsewhere
compliance programs and controls in place to
Previous report — wording carried elsewhere
mandatory recall of product, seizure of product
Previous report — wording carried elsewhere
to an entity with which the physician (or
Previous report — wording carried elsewhere
judicial authority in a manner that
Previous report — wording carried elsewhere
concerning the conduct of our foreign
Previous report — wording carried elsewhere
Our businesses are generally subject to
Previous report — wording carried elsewhere
compliance, we cannot predict whether changes in applicable law, or interpretation of laws, or changes in our
Previous report — wording carried elsewhere
is likely to impose additional costs on us,
Previous report — wording carried elsewhere
could have a material adverse effect on
Previous report — wording carried elsewhere
In addition, as our corporate brand
Previous report — wording carried elsewhere
Another potential risk we face in the
Previous report — wording carried elsewhere
The impacts and potential impacts from
Previous report — wording carried elsewhere
reduction in peoples’ ability and willingness to seek elective care;