Henry Schein 2008 Annual Report Download - page 7

5
Resiliency, Reinvention and Relevancy
The resiliency of a company during challenging times is
largely based on its ability to reinvent itself and become more
relevant to customers. Henry Schein’s continued success will
come through our commitment to more effectively help our
customers meet growing practice challenges.
Our mission is to help our customers run more efficient and
profitable practices as they provide patients the highest
standards of patient care. By continuously answering our
customers’ most important question—“How can Henry Schein
help me thrive during this unstable economic time?”—we are
determined to become even more relevant to the success of
our customers’ practices.
Relevancy begins by listening to our customers. In 2008,
we launched the inaugural Henry Schein Survey of Healthcare
Practitioners, in which we asked our dental, medical and animal
health customers for their opinions on a number of topics.
The number one “top of mind” issue that emerged was that
our customers are forced to spend more time managing
practices at the expense of providing patient care (52%
medical, 42% animal health and 41% dental). Additionally, our
customers remain committed to incorporating new technology
in their practices, with nearly 9 of 10 customers surveyed
saying that technology will play an increasingly important role.
Environmental consequences also are influencing practices,
and we saw a sustained commitment to volunteer activity
across all three customer groups.
“Helping Health Happen”
Henry Schein is “helping health happen®” in a number
of ways, including helping our customers with financing.
Through Henry Schein Financial Services, a strategic advantage
for our Company, we can help ensure that customers have
competitive financing options for their patients and their
practices, making it easier to purchase equipment and
technology—driving practice success now and in the future.
In 2008, we helped more than 11,000 Henry Schein customers
in the United States enhance their practices with financing
options through third parties, at no credit risk to us.
We also are providing value to our customers through
our nearly 20,000 proprietary Henry Schein brand products,
many of which have a leading market share in their respective
categories. These high-quality products come with the
Henry Schein Seal of Excellence, which guarantees satisfaction
to our customers.
We also will continue to meet our commitment to our other
four constituencies. Our supplier partners are relying on us
to develop a trusted relationship with our customers, offering
our suppliers’ products as solutions to practice needs.
Our investors expect us to take all necessary steps to improve
our organizational efficiency and build market share, so
we will continue to grow, be profitable and provide a good
return on investment. The more than 12,500 members
of Team Schein will be crucial to the reinvention of our
Company if we are to take advantage of the opportunities
resulting from the enormous economic changes we are now
experiencing. And, our Company’s ongoing vitality will enable
us to continue to participate in innovative public-private
partnerships that give back to society and address important
healthcare issues, many of which become more acute during
times of economic challenge.
For our efforts through Henry Schein Cares, our global social
responsibility program, we are proud that Henry Schein has
been named “Most Admired” in our industry in FORTUNE’s
list of the World’s Most Admired Companies, and ranked
number one in our industry in social responsibility for five
consecutive years. Through flagship programs such as
Give Kids A Smile and Healthy Children, Healthy Lifestyles,
“Henry Schein’s
continued success will come
through our commitment
to more effectively
help our customers
meet growing
practice challenges.”