Strong Specialty Products and Technology Groups Performance
Henry Schein's Specialty Products and Technology groups delivered strong results, driven by innovative products, solutions, and cost efficiencies. The Specialty Products Group saw accelerating growth in dental implants and biomaterials, with double-digit growth in value implants. The Global Technology Group experienced a 7.4% sales growth, driven by strong growth in Practice Management System Solutions and revenue cycle management offerings.
Positive Sales Trends in July
The company reported strong merchandise sales in July, suggesting optimism for the remaining fiscal year. This includes a positive rebound in U.S. dental equipment sales and a steady increase in patient traffic within the U.S. Medical business.
Successful Cost Restructuring
The company expects to achieve annual run-rate savings of over $100 million by the end of 2025 due to its restructuring efforts. Further enhanced profitability is anticipated in 2026 as a result of new value creation initiatives.
Expansion of Cloud-Based Platforms
In the Global Technology Group, Practice Management Software growth was in the mid-double digits, driven by a 20% year-over-year increase in cloud-based customers, with over 10,000 customers now subscribed to Dentrix Ascend and Dentally systems.