Henry Schein Completes Spin-off Of Animal Health Unit - Quick Facts

(RTTNews) - Henry Schein, Inc. (HSIC) announced the completion of the spin-off of its animal health business as the company tightens its focus on driving growth in existing dental and medical markets while pursuing new investment opportunities. As part of the spin-off, Henry Schein received approximately $1.1 billion in what is expected to be tax-free proceeds that will be used to pay down debt. The company said the debt repayment will generate additional debt capacity for Henry Schein, which could be used for general corporate purposes, including share repurchases and mergers and acquisitions.

Following the spin-off of Animal Health, Henry Schein will have more than 18,000 Team Schein Members in 31 countries, serving more than 1 million customers.