Henry Schein, Inc. (HSIC): Business Model Canvas [Dec-2025 Updated]

You're looking to dissect how a giant like Henry Schein, Inc. actually makes its money across 33 countries, especially now that they're executing the BOLD+1 plan. Honestly, it's a classic distribution powerhouse-think one-stop-shop for everything from dental drills to vet supplies-but the real story is the tech pivot, anchored by KKR's strategic investment. With 2024 sales hitting $10.8 billion in distribution alone and a projected 3% to 4% growth for 2025, plus efficiency drives aiming for $100 million in savings, understanding their nine building blocks is key to seeing where the next dollar comes from. Let's break down the engine room below.

Henry Schein, Inc. (HSIC) - Canvas Business Model: Key Partnerships

You're looking at the network that keeps Henry Schein, Inc. moving, the relationships that feed its $12.7 billion in 2024 revenue and support its 25,000 Team Schein Members.

KKR: Strategic Investor

The strategic investment from KKR solidified a major financial backing. KKR made an additional $250 million investment in common stock. So, KKR became the largest non-index fund shareholder with a 12% position in Henry Schein, Inc. common stock. They also hold the option to increase that stake up to 14.9% via open market purchases. This partnership is tied to value creation opportunities across growth and operational excellence. For 2025, Henry Schein, Inc. is guiding for total sales growth of approximately 2% to 4% over 2024 results.

Global Manufacturers

Henry Schein, Inc. acts as the critical link between manufacturers and over 1 million customers globally. The company's distribution network carries a selection of more than 300,000 branded products and Henry Schein corporate brand products. This vast inventory relies on relationships with numerous suppliers. For instance, at the 2025 Chicago Dental Society Midwinter Meeting, Henry Schein, Inc. showcased solutions from partners like Dentsply Sirona, DEXIS, Planmeca, and 3Shape. The company provides more than 300 valued solutions overall.

Here's a snapshot of key supplier/product relationships:

vVARDIS: Exclusive U.S. Distributor

The agreement with vVARDIS for Curodont Repair Fluoride Plus was expanded. This grants Henry Schein, Inc. exclusive U.S. distribution rights across all dental market segments, effective January 1, 2026. This is a step up from the 2024 exclusivity which was limited to Dental Service Organizations (DSOs). The product treats early-stage cavities without drills or needles. Up to 80% of all patients have these early-stage cavities. Before this expansion, the partnership had already accessed over 10% of U.S. dental offices.

Technology Providers

The technology segment, Henry Schein One, integrates with various platforms to automate workflows. For example, Dentrix G7 integrates patient charts with image types from several third-party imaging vendors. Henry Schein One also unveiled Voice Notes to help close revenue gaps through clean claims. Separately, Henry Schein One announced a collaboration with AWS to transform global dentistry using generative AI. The Global Technology segment generated annual sales of $0.6 billion for the full-year 2024.

Oral Genome: Salivary Testing Distribution

In August 2025, Henry Schein, Inc. partnered with Oral Genome for nationwide distribution of its point-of-care saliva testing. This test analyzes salivary markers connected to conditions like dental caries, periodontal disease, and diabetes. The test delivers results in approximately 15 minutes chairside. The rollout targets dental practices, community health clinics, and medical offices through Henry Schein's existing dental and medical channels. This effort supports the company's mission to advance prevention and wellness through systemic health models.

Finance: draft 13-week cash view by Friday.

Henry Schein, Inc. (HSIC) - Canvas Business Model: Key Activities

Global distribution of over 300,000 branded and corporate brand products.

Henry Schein, Inc. manages a centralized and automated distribution network. This network stocks a selection of more than 300,000 branded products and Henry Schein corporate brand products across its main distribution centers. The distribution centers span more than 5.3 million square feet worldwide. The Company's network of trusted advisors provides more than 1 million customers globally with more than 300 valued solutions.

Q3 2025 revenues reached $3.34 billion, marking a 5.2% increase year on year.

Executing the 2025-2027 BOLD+1 Strategic Plan for growth and efficiency.

The refreshed BOLD+1 Strategic Plan covers the period from 2025 to 2027. The long-term financial goal remains high-single-digit to low-double-digit earnings growth.

• Operating income from high-growth, high-margin businesses contributed nearly 40% of total profits in Q1 2025.
• Management anticipates this segment will exceed 50% of total operating income by 2027.
• The company expects over 10% of non-GAAP operating income to come from corporate brand products by 2027.
• Full-year 2025 non-GAAP diluted EPS guidance was raised to a range of $4.88 to $4.96.
• Total sales growth for 2025 is maintained at approximately 2% to 4% over 2024.
• Adjusted EBITDA growth for 2025 is expected to increase in the mid-single digits compared with 2024 ($1.1 billion).

Developing and selling cloud-based practice management software (Henry Schein One).

Henry Schein One, a joint venture with Internet Brands, focuses on integrated dental technology. The global Cloud-Based Dental Management Software market size was valued at approximately $870.67 million in 2025. The U.S. dental software market size was evaluated at $540 million in 2025. The technology segment saw its operating income surge over 20% year-over-year in Q1 2025. In one specific product, over 60% of users leveraged AI features, which helped reduce administrative burden by 48% across participating clinics.

Restructuring initiatives to achieve up to $100 million in annual run-rate savings.

The restructuring plan aims to generate annual run-rate savings of over $100 million by the end of 2025. The company recorded $25 million in restructuring costs in Q1 2025 and $23 million in Q2 2025. The total cost recorded through the first half of 2025 is $48 million ($25 million + $23 million).

Managing a complex, centralized global supply chain and logistics network.

The Company's operations or affiliates are present in 33 countries and territories. Henry Schein, Inc. was honored with the 2025 Distribution Excellence Award by Vizient. The Company has more than 25,000 Team Schein Members worldwide.

Henry Schein, Inc. (HSIC) - Canvas Business Model: Key Resources

You're looking at the core assets Henry Schein, Inc. relies on to serve over 1 million customers globally. These aren't just line items; they are the engines of their distribution and technology advantage.

Global Distribution Infrastructure

Henry Schein, Inc. maintains a massive physical footprint, which is central to its role as the world's largest provider of health care solutions to office-based dental and medical practitioners. This infrastructure supports the movement of goods to a diverse customer base.

The company's operations or affiliates span 33 countries and territories. This global reach is supported by a centralized and automated distribution network.

Key operational scale metrics include:

• Global customer base exceeding 1 million.
• Fiscal Year 2024 total revenue of $12.7 billion.
• Since becoming a public company in 1995, sales have grown at a compound annual growth rate (CAGR) of approximately 11.2 percent.

Team Schein Members

The human capital at Henry Schein, Inc. is substantial, comprising a network described as trusted advisors. As of late 2024/early 2025 reporting, the workforce size is a key resource.

The company has approximately 25,000 Team Schein Members worldwide. The employee count was reported as 25,000 as of December 31, 2024. The revenue generated per employee, based on FY2024 figures, was approximately $506.92K.

Here's a quick look at the workforce scale:

Proprietary Technology: Henry Schein One

Henry Schein One, a joint venture between Henry Schein, Inc. and Internet Brands, is the technology backbone, focusing on making practices more seamless and profitable. This resource is actively being enhanced with AI and automation workflows.

The technology portfolio includes several leading brands:

• Practice Management: Dentrix® and Dentrix Ascend®.
• Analytics: Jarvis Analytics™.
• Workflow/Support: TechCentral™, Lighthouse360+.
• Patient Engagement: DentalPlans.com®.

Recent product adoption shows momentum; the new Forms digital intake solution saw more than 1,000 dental practices adopt it in May-June 2025. Furthermore, Henry Schein One unveiled natively embedded AI workflows like Voice Notes to help close revenue gaps through cleaner claims.

Extensive Product Portfolio

The breadth of products Henry Schein, Inc. offers is a significant barrier to entry for competitors and a convenience for customers. They stock a vast array of items from various manufacturers alongside their own high-margin corporate brands.

The company's distribution centers stock more than 300,000 branded and proprietary products. Overall, they provide more than 300 valued solutions that help improve operational success and clinical outcomes. For pharmaceuticals specifically, Henry Schein has access to over 7,500+ brand and generic pharmaceuticals plus OTC products as an Approved Distributor of Record (ADR).

The portfolio breakdown by segment is illustrative:

Financial Capital

Financial strength is underscored by recent strategic capital events and consistent revenue generation. The partnership with KKR provides a significant capital infusion and strategic oversight.

Key financial capital elements as of mid-to-late 2025 include:

• KKR strategic investment completed in May 2025 for $250 million.
• KKR's resulting ownership stake is approximately 12%, with an option to increase to 14.9%.
• FY 2024 reported revenue was $12.7 billion.
• FY 2024 Non-GAAP Net Income reached $605 million.
• The company announced a $750 Million share repurchase plan.
• Q3 2025 revenue amounted to $3.34 billion, up 5.2% year-over-year.

Finance: draft 13-week cash view by Friday.

Henry Schein, Inc. (HSIC) - Canvas Business Model: Value Propositions

You're looking at how Henry Schein, Inc. delivers distinct value to its customers as of late 2025. It's about being the essential partner across the entire practice lifecycle, not just a supplier.

One-stop-shop for all dental, medical, and animal health practice needs

Henry Schein, Inc. positions itself as the single source for office-based health care professionals. This breadth is supported by a massive selection, with over 300,000 branded products and Henry Schein corporate brand products available through its main distribution centers. ^{cite: 2, 9} The company's structure reflects this comprehensive offering across its core markets.

Here's a look at the sales contribution from the business groups as reported for the full-year 2024, which sets the stage for the late 2025 environment:

The TTM revenue as of September 30, 2025, reached $12.938B. ^{cite: 6} That's a lot of inventory to manage for over 1 million customers globally. ^{cite: 9, 10}

Integrated technology solutions to drive practice efficiency and revenue cycle management

The technology proposition centers on making practices run smoother, which is a key focus under the 2025 to 2027 BOLD+1 Strategic Plan. ^{cite: 1, 2} Henry Schein One, the technology joint venture, is seeing accelerated adoption of its cloud-based platforms. ^{cite: 14} For instance, subscriptions to tools like Dentrix Ascend and Dentally saw 20% year-over-year growth in Q1 2025. ^{cite: 8}

The Global Technology segment itself saw strong performance, with sales increasing 9.7% in the third quarter of 2025 compared to the third quarter of 2024. ^{cite: 3} This growth reflects the accelerated adoption of cloud-based software and the sales from recently launched revenue cycle management solutions. ^{cite: 3} New automation features are specifically designed to help streamline administrative workflows and speed up reimbursement cycles. ^{cite: 8} The company is also rolling out a global eCommerce Platform (GEP), which went live in the U.K. and Ireland, with a phased launch in North America scheduled to begin in Q3 2025. ^{cite: 8, 14}

Access to innovative, high-margin products like AI-backed clinical solutions

A core strategic goal is shifting the income mix toward higher-margin areas. Henry Schein, Inc. successfully exceeded its 2024 target of generating 40% of its worldwide operating income from high-growth, high-margin businesses. ^{cite: 1, 2} The updated 2025 to 2027 BOLD+1 Strategic Plan sets an even higher bar, aiming for more than 50% of operating income from these businesses by 2027. ^{cite: 8}

This focus includes specialty products and technology, which are inherently higher-margin than core distribution. The Global Specialty Products segment, which includes dental implant and biomaterial products, generated $1.4 billion in sales in 2024. ^{cite: 2, 13} The value segment of the implant market is noted as expanding faster than the premium segment, creating an opportunity Henry Schein, Inc. is addressing with new product lines like Corvus Salus in the U.S. ^{cite: 14}

Supply chain reliability and breadth of product choice (over 300,000 items)

You rely on Henry Schein, Inc.'s centralized and automated distribution network to keep your practice stocked. ^{cite: 2, 9} The sheer scale of choice is a major value driver, offering a selection of over 300,000 products. ^{cite: 2, 9} This is supported by the Global Distribution and Value-Added Services group, which accounted for $10.8 billion in sales in 2024. ^{cite: 1, 2}

Merchandise sales growth in local currency was consistent across U.S. and international markets in Q3 2025. ^{cite: 14} Furthermore, the company is executing a plan to deliver over $200 million of improvements to operating income over the next few years, which should enhance efficiency across this vast supply chain. ^{cite: 3, 14}

Consulting and value-added services for improved clinical and business outcomes

Value-added services are explicitly called out as a driver of growth. In 2024, the value-added services segment, which covers consulting, financial, and practice transition services, demonstrated significant growth of 21.5%, reaching $233 million in sales. ^{cite: 13}

This momentum carried into 2025. For the third quarter of 2025, Global Value-added Services sales increased 3.3% year-over-year, with growth specifically driven by consulting services. ^{cite: 3} These services, provided by a network of trusted advisors, are designed to help customers improve operational success and clinical outcomes. ^{cite: 9, 10}

• Global Value-added Services sales growth in Q3 2025: 3.3% (as-reported) ^{cite: 3}
• Global Value-added Services sales growth in Q3 2025: 2.9% (constant currencies) ^{cite: 3}
• Value-added services sales in 2024: $233 million ^{cite: 13}

Finance: draft 13-week cash view by Friday.

Henry Schein, Inc. (HSIC) - Canvas Business Model: Customer Relationships

You're looking at how Henry Schein, Inc. connects with its customers as of late 2025. The approach is definitely a mix of high-touch personal service and deep digital integration, all under the refreshed BOLD+1 Strategic Plan for 2025-2027.

The foundation of personalized service relies on the sheer scale of their field presence. Henry Schein has approximately 25,000 Team Schein Members worldwide, acting as trusted advisors to more than 1 million customers globally, offering over 300 valued solutions. The company's long-term strategy includes creating additional dedicated, focused specialty sales teams to deepen these relationships.

For self-service, the Global eCommerce Platform (GEP) is central to the digital transformation. GEP went fully live in the UK and Ireland during the first quarter of 2025. A phased launch in North America is scheduled to begin in the third quarter of 2025. This digital push is tied directly to financial targets; GEP is critical to the goal of increasing the share of operating income from high-growth, high-margin businesses from over 40% (as of Q1 2025) to more than 50% by 2027. Furthermore, Henry Schein plans to expand the marketplace reach through HenrySchein.com in 2025, leveraging Mirakl technology to offer 8,000 non-clinical products to dental professionals.

Enterprise-level support is channeled through technology offerings that serve larger entities like Dental Service Organizations (DSOs). Cloud-based practice management platforms, such as Dentrix Ascend and Dentally, specifically support the clinical and operational needs of DSOs alongside independent practices. The company's Global Technology Group saw 20% year-over-year growth in subscriptions to these tools as of Q1 2025.

Consulting services are delivered as part of the value-added offerings designed to optimize practice operations. Henry Schein One explicitly offers Business Consulting & Staff Training services, which help practices optimize daily workflows, retain staff, and drive revenue. This aligns with the overall strategy to enhance practice efficiencies.

Automated digital engagement is driven by the Global Technology Group, which reported revenue growth of 3.4% in constant currency for technology and value-added services in Q1 2025. With approximately 100,000 technology customers worldwide, the company maintains a strong digital footprint. In the U.S., penetration for practice management solutions is approximately 55% of dental practices. The company's distribution network supports this by servicing 90% of worldwide customers next day, operating out of 36 distribution and 15 manufacturing facilities (data as of Q4 2024).

Here's a quick look at some of the key relationship and service metrics as of late 2024/early 2025:

The focus on digital integration is clear; the company is building a seamless, data-driven ecosystem. If onboarding for new digital solutions takes 14+ days, churn risk rises, so speed in the GEP rollout is defintely important.

Finance: draft 13-week cash view by Friday.

Henry Schein, Inc. (HSIC) - Canvas Business Model: Channels

You're looking at how Henry Schein, Inc. gets its solutions to over 1 million customers globally. It's a mix of feet on the street, massive warehouses, and increasingly, digital pipelines. Honestly, the shift to digital is where the real action is, aiming for that higher-margin business.

Direct Sales Force: Field sales representatives and product specialists

Henry Schein, Inc. relies on its network of trusted advisors, which includes field sales representatives and product specialists. These folks cover everything from capital equipment to technology and specialty products. The company has more than 25,000 Team Schein Members worldwide to support this effort. It's this human touch that helps them maintain market share, even as digital sales accelerate.

Centralized Distribution Centers: Automated logistics network for product delivery

The backbone of the physical delivery remains the centralized and automated distribution network. This system handles a massive inventory, which, as of late 2024, included more than 300,000 branded products and Henry Schein corporate brand products across its main distribution centers. Henry Schein, Inc. has operations or affiliates in 33 countries and territories, making its logistics reach quite broad. The Global Medical Distribution segment showed solid growth, increasing sales by 6.1% in constant currencies in the second quarter of 2025 compared to the second quarter of 2024. Still, the company is actively working on enhancing distribution gross margins.

Digital Platforms: Global eCommerce Platform and Henry Schein One software

The digital push is significant. The Global eCommerce Platform (GEP) went fully live in the UK and Ireland during Q1 2025, with a phased launch planned for North America starting in Q3 2025. This platform is key to the BOLD+1 Strategic Plan for 2025-2027, which targets increasing the share of operating income from high-growth, high-margin businesses to more than 50% by 2027, up from over 40% at the time of the Q1 report. The Global Technology Group saw 20% year-over-year growth in subscriptions to cloud tools like Dentrix Ascend in Q1 2025. That's defintely a strong signal.

Henry Schein One, the joint venture focused on software, is a major channel in itself:

• Serves more than 48,000 practices in the U.S.
• Partners with 90 percent of the top 50 Dental Service Organizations (DSOs).
• Monthly installations for its cloud platform, Dentrix Ascend, doubled year-over-year (as of August 2025).
• The U.S. dental software market size is estimated at $540 million for 2025.

Technology Integration: Software APIs connecting third-party vendor solutions

The connectivity of the software ecosystem is a channel for value-add services. Henry Schein One is deepening integrations within its API Exchange. This exchange currently features more than 700 API endpoints. Furthermore, these connections process a massive amount of data, totaling 6 billion annual API data requests. This integration capability helps practices automate workflows, like using AI-powered capabilities for eligibility verification.

Home Solutions: Direct-to-patient distribution channel for certain medical products

The Home Solutions business is a growing component within the Global Medical Distribution segment. This channel saw strength in Q2 2025, reflecting increased patient traffic to physician offices and growth from acquisitions, such as the recent addition of Acentus. This direct-to-patient approach addresses rising demand for at-home health care solutions, powered by digital logistics and data integration.

Henry Schein, Inc. (HSIC) - Canvas Business Model: Customer Segments

You're looking at the core of Henry Schein, Inc.'s business-the sheer volume and diversity of the healthcare professionals they serve globally. As of late 2025, Henry Schein, Inc. supports a network of more than 1 million customers worldwide. This massive base is served by over 25,000 Team Schein Members across 33 countries and territories.

Office-based Dental Practitioners (Generalists and Specialists)

This group forms the historical bedrock of Henry Schein, Inc.'s customer base. The company positions itself as the #1 global dental distributor and solutions company for general practitioners, specialists, and laboratories. You see their market leadership reflected across key geographies, holding the #1 in sales position in the US and Canada, Europe, Australia/New Zealand, and Brazil. In the first quarter of 2025, while dental equipment sales declined 4.5% on a reported basis, dental merchandise sales still managed a 0.4% rise in constant currency. The focus remains on providing integrated solutions to help these practitioners operate more efficiently.

Office-based Medical Practitioners (Physicians, Ambulatory Care)

Henry Schein, Inc. is recognized as the world's largest provider of health care solutions specifically to office-based dental and medical practitioners. The company's solutions, including Business, Clinical, Technology, and Supply Chain tools, are designed to help these medical professionals work more efficiently to deliver quality care. The Global Distribution and Value-Added Services segment, which serves both dental and medical markets, generated $3.17 billion in revenue in the first quarter of 2025. Management notes that a macro trend supporting this segment is the continued movement of procedures from hospitals to physician offices and alternate care sites.

Veterinary Practices (Animal Health)

While the search results do not provide specific 2025 revenue breakdowns or customer counts solely for the Animal Health segment, it is included within the broader customer base that Henry Schein, Inc. serves with its distribution and value-added services. The company's overall sales reached $12.7 billion in 2024, demonstrating the scale at which all customer groups are served. The strategy involves leveraging the existing product portfolio across the entire customer base.

Dental Service Organizations (DSOs) and large Group Practices

This segment represents a significant growth vector, characterized by the consolidation of practitioners under common management. Henry Schein, Inc. has a specific strategic focus here, as evidenced by an expansion of an agreement granting them exclusive U.S. distribution rights for the Curodont™ product across all dental market segments, which built upon a previous exclusivity deal with DSOs announced in 2024. The success of that initial DSO relationship was noted, having accessed over 10% of U.S. dental offices and treated more than 500,000 patients with the product by December 2025.

Dental Laboratories and Institutional Health Care Clinics

These customers are explicitly mentioned as being supported by Henry Schein, Inc.'s solutions, alongside office-based practitioners. The company's network provides solutions that support dental laboratories and government and institutional health care clinics, as well as other alternate care sites. The Global Specialty Products segment, which includes dental implant and biomaterial products, saw revenue grow from $348 million to $369 million year-over-year in Q3 2025. Technology and value-added services revenue, which supports these varied practices, increased 3.4% in constant currency in Q1 2025.

Here's a quick look at the scale of the customer ecosystem Henry Schein, Inc. addresses:

Henry Schein, Inc. (HSIC) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive Henry Schein, Inc.'s operational expenses as of late 2025. Honestly, for a global distributor, the cost structure is dominated by moving product and paying the people who make that happen.

Distribution and Logistics Costs

The global network supporting Henry Schein, Inc. inherently carries significant fixed and variable costs for warehousing and transportation. While specific logistics expense line items aren't broken out in the latest reports, the performance of the Global Distribution and Value-Added Services segment gives us a sense of scale. For the first quarter of 2025, this segment saw sales increase 0.8% in constant currencies. This area is a major focus for cost control; for instance, following the Q2 2025 results, Henry Schein, Inc. engaged two leading global management consulting firms specifically to support efforts to enhance distribution gross margins. This indicates active management of logistics and procurement costs.

The company's drive for operational efficiency is a direct response to managing these high-volume costs. It's a constant balancing act in distribution.

Cost of Goods Sold (COGS)

The Cost of Goods Sold is definitely the primary cost driver, as Henry Schein, Inc. is fundamentally a massive distributor. We can look at the first quarter of 2025 to see the scale. Total net sales for Q1 2025 were reported around $3.2 billion (or $3.17 billion). In that same quarter, the Gross Profit was $1 billion, up from $951 million in Q1 2024. Here's the quick math for Q1 2025 implied COGS:

What this estimate hides is the mix shift, like the lower glove pricing mentioned in Q2 2025 commentary, which directly pressures this cost component.

Technology and R&D Investment

Direct annual investment figures for Research and Development are not explicitly detailed in the latest public releases, but the scale of the technology segment is visible through its sales contribution. For context, Global Technology sales were reported at $0.6 billion in the period leading up to 2025 guidance. The strategic focus is on developing the digital footprint and solutions, which requires ongoing investment. The efficiency initiatives are also aimed at optimizing the cost base supporting these digital efforts.

Personnel Costs

Salaries and related expenses for the global workforce, referred to as Team Schein Members, represent a substantial fixed cost. As of late 2025, Henry Schein, Inc. has an estimated workforce of 25,000 employees. This large team supports the global distribution, specialty products, and technology segments. Furthermore, the value creation initiatives announced in Q3 2025 are expected to deliver over $200 million of operating income improvement over the next few years, which will certainly involve optimizing personnel structures and processes.

Restructuring Costs

Henry Schein, Inc. recorded specific, one-time costs related to efficiency drives. You should note the following figures from early 2025:

• Restructuring costs recorded in Q1 2025 totaled $25 million.
• The company expects to achieve annual run-rate savings at the high end of its $75 million to $100 million goal by the end of 2025.

These costs are explicitly excluded when calculating non-GAAP performance metrics because they are considered non-representative of the underlying business performance. Finance: draft 13-week cash view by Friday.

Henry Schein, Inc. (HSIC) - Canvas Business Model: Revenue Streams

You're looking at how Henry Schein, Inc. brings in its money, which is heavily reliant on its massive distribution network, but with growing contributions from specialized areas. Honestly, the core of the business is moving products to the point of care.

Here's a quick look at the revenue breakdown based on the most recently recast segment sales from the end of 2024, which sets the stage for 2025 performance:

The company's leadership, as of late 2025, maintained guidance for total sales growth to be approximately 3% to 4% over the 2024 total, reflecting solid execution through the first three quarters of the year.

Global Distribution Sales: Consumables, Equipment, and Pharmaceuticals

This is the engine room, falling under the Global Distribution and Value-Added Services segment. This stream covers the distribution of national brand and corporate brand merchandise, equipment, and related technical services to the global dental and medical markets. For the full year 2024, this segment generated $10.8 billion in sales. You see this segment continuing to drive volume, with management noting solid market share gains in the distribution businesses as of the third quarter of 2025.

The revenue here is built on:

• Distribution of consumables, equipment, and pharmaceuticals.
• Value-added services like practice transition and consulting.

Global Specialty Products Sales: Implants, Biomaterials, and Endodontic Products

This is where Henry Schein, Inc. captures higher-value, specialized procedural revenue. In 2024, this segment brought in $1.4 billion. This stream includes the manufacturing, marketing, and sales of dental implant and biomaterial products, plus endodontic, orthodontic, and orthopedic products. To give you a feel for the momentum in 2025, the first quarter saw revenue jump from $348 million in Q1 2024 to $369 million in Q1 2025, driven mostly by dental implants and biomaterials offerings.

Global Technology Sales: Practice Management Software and Value-Added Services

The technology arm, which posted $0.6 billion in sales in 2024, is focused on the digital footprint. This includes the development, marketing, and sales of practice management software and related services. This area is seeing growth from cloud-based solutions like Dentrix Ascend and Dentally, though some legacy product sales are declining as they are sunset. For instance, in the first quarter of 2025, technology revenue grew from $157 million in Q1 2024 to $173 million in Q1 2025.

Corporate Brand Products: Higher-Margin Private Label Sales

While not a standalone segment in the recast structure, Corporate Brand Products represent a key component, primarily within the Global Distribution segment, focused on higher-margin private label sales. The success of this strategy was highlighted when the prior strategic plan exceeded its goal of generating 40% of operating income from high-growth, high-margin businesses.

The sources of this revenue are inherently tied to the distribution network, but the margin profile is different, which is defintely important for overall profitability.