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 it has been recognized by the Ethisphere Institute, the global leader in defining and advancing the standards of ethical business practices, as a 2015 World's Most Ethical Company.
The World's Most Ethical Companies designation recognizes those organizations that have had a material impact on the way business is conducted by fostering a culture of ethics and transparency at every level of the company.
"We are honored to be named once again to Ethisphere's 2015 list of World's Most Ethical Companies," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer, Henry Schein, Inc. "This recognition reflects our success in implementing exceptional business standards worldwide, and ensuring long-term value to our key constituencies including our customers, suppliers, Team Schein Members, investors and society. A deep commitment to being a higher ambition company with exceptional ethical standards and business practices has been at the core of Henry Schein's business model for more than eight decades and is a key driver of our long-term success."
This marks the fourth consecutive year that Henry Schein has been honored by Ethisphere. The Company is one of only 132 companies honored this year and is the only honoree in the health care products category.
"The World's Most Ethical Companies embrace the correlation between ethical business practice and improved company performance. These companies use ethics as a means to further define their industry leadership and understand that creating an ethical culture and earning the World's Most Ethical Companies recognition involves more than just an outward facing message or a handful of senior executives saying the right thing," said Ethisphere's Chief Executive Officer, Timothy Erblich. "Earning this recognition involves the collective action of a global workforce from the top down. We congratulate everyone at Henry Schein for this extraordinary achievement."
The World's Most Ethical Company assessment is based upon the Ethisphere Institute's Ethics Quotient (EQ) framework developed over years of research to provide a means to assess an organization's performance in an objective, consistent and standardized way. The information collected provides a comprehensive sampling of definitive criteria of core competencies, rather than all aspects of corporate governance, risk, sustainability, compliance and ethics. The EQ framework and methodology is determined, vetted and refined by the expert advice and insights gleaned from Ethisphere's network of thought leaders and from the World's Most Ethical Company Methodology Advisory Panel.
Scores are generated in five key categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership, innovation and reputation (10%).
The full list of the 2015 World's Most Ethical Companies can be found at http://ethisphere.com/worlds-most-ethical/wme-honorees/.
Senior executives of honorees contribute high-level insights and best practices to the well-regarded World's Most Ethical Companies Executive Briefing (download Volume 2 here). Additional insights gleaned from the World's Most Ethical Companies will be released in a series of whitepapers and infographics over the coming months (download the 2014 Insights). Organizations interested in how they compare to the World's Most Ethical Companies are invited to learn more about Ethisphere's services.
Henry Schein, Inc. is the world's largest provider of health care products and services to office-based dental, animal health and medical practitioners. The Company also serves dental laboratories, government and institutional health care clinics, and other alternate care sites. A Fortune 500® Company and a member of the NASDAQ 100® Index, Henry Schein employs more than 17,500 Team Schein Members and serves more than 1 million customers. The Company offers a comprehensive selection of products and services, including value-added solutions for operating efficient practices and delivering high-quality care. Henry Schein operates through a centralized and automated distribution network, with a selection of more than 100,000 branded products and Henry Schein private-brand products in stock, as well as more than 150,000 additional products available as special-order items. The Company also offers its customers exclusive, innovative technology solutions, including practice management software and e-commerce solutions, as well as a broad range of financial services. Headquartered in Melville, N.Y., Henry Schein has operations or affiliates in 28 countries. The Company's sales reached a record $10.4 billion in 2014, and have grown at a compound annual rate of approximately 16% since Henry Schein became a public company in 1995. For more information, visit the Henry Schein website at www.henryschein.com.
The Ethisphere Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World's Most Ethical Companies recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA) and showcases trends and best practices in ethics with the publication of Ethisphere Magazine and The World's Most Ethical Companies Executive Briefing. Ethisphere is also the leading provider of independent verification of corporate ethics and compliance programs. More information about Ethisphere can be found at http://ethisphere.com.