Henry Schein, Inc. (Nasdaq: HSIC) has been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as one of the 2018 World's Most Ethical Companies.
This is the seventh consecutive year that Henry Schein has been recognized and it is the only honoree in the Healthcare Products industry, underscoring the company's commitment to leading with integrity and prioritizing ethical business practices.
In 2018, 135 honorees were recognized, spanning 23 countries and 57 industries. The twelfth class of honorees had record levels of involvement with their stakeholders and their communities around the world. Measuring and improving culture, leading authentically and committing to transparency, diversity and inclusion were all priorities for honorees.
"We at Henry Schein are honored to be named one of the World's Most Ethical Companies for a seventh time and this year's sole honoree in the Healthcare Products industry, as it reinforces our commitment to fulfilling our responsibilities as a corporate citizen by giving back to the professions and communities we serve," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "Since our founding in 1932, we have pursued the ideal of 'doing well by doing good,' and we remain steadfast in our belief that great success can be achieved by serving the needs of society, holding ourselves to the highest ethical standards, and building our continued success on a foundation of trust and teamwork."
"While the discourse around the world changed profoundly in 2017, a stronger voice emerged. Global corporations operating with a common rule of law are now society's strongest force to improve the human condition. This year we saw companies increasingly finding their voice. The World's Most Ethical Companies in particular continued to show exemplary leadership," explained Ethisphere's CEO, Timothy Erblich. "Henry Schein, in particular, has been a powerful voice in expanding access to health care in underserved communities around the world, and I congratulate Team Schein for being recognized as one of the World's Most Ethical Companies."
Ethics & Performance
Once again, the 2018 World's Most Ethical Companies have proven that operating with integrity leads to greater financial performance. Research has found that, when indexed, listed World's Most Ethical Companies outperformed the U.S. Large Cap Index over five years by 10.72 percent and over three years by 4.88 percent. Ethisphere refers to this as the Ethics Premium.
Methodology & Scoring
The World's Most Ethical Companies assessment is based upon the Ethisphere Institute's Ethics Quotient (EQ) framework, which offers a quantitative way to assess a company's performance in an objective, consistent and standardized manner. 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.
Scores are generated in five key categories: ethics and compliance program (35 percent), corporate citizenship and responsibility (20 percent), culture of ethics (20 percent), governance (15 percent) and leadership, innovation and reputation (10 percent). All companies that participate in the assessment process receive their scores, providing them with valuable insights into how they stack up against leading organizations.
The full list of the 2018 World's Most Ethical Companies can be found at https://worldsmostethicalcompanies.com/honorees.
Best practices and insights from the 2018 honorees will be released in a report and webcast in March and April of this year. Sign up to receive the report.
About Henry Schein, Inc.
Henry Schein, Inc. (Nasdaq: HSIC) 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 healthcare clinics, and other alternate care sites. A Fortune 500® Company and a member of the S&P 500® and the Nasdaq 100® indexes, Henry Schein employs more than 22,000 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 120,000 branded products and Henry Schein private-brand products in stock, as well as more than 180,000 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 34 countries. The company's sales reached a record $11.6 billion in 2016, and have grown at a compound annual rate of approximately 15 percent since Henry Schein became a public company in 1995. For more information, visit Henry Schein at www.henryschein.com, Facebook.com/HenrySchein and @HenrySchein on Twitter.
About the Ethisphere Institute
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 and measure and improve culture. Ethisphere honors superior achievement through its World's Most Ethical Companies recognition program and provides a community of industry experts with the Business Ethics Leadership Alliance (BELA). More information about Ethisphere can be found at: https://ethisphere.com.