UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 24, 2005
HENRY SCHEIN, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-27078 11-3136595
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(State or other jurisdiction (Commission Number) (IRS Employer
of incorporation) Identification No.)
135 Duryea Road Melville, New York 11747
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (631) 843-5500
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(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On May 24, 2005, Henry Schein, Inc. entered into a new $300 million
credit facility with a $100 million expansion feature. This new facility, which
expires in May 2010, replaces Henry Schein's current revolving credit facility,
which was scheduled to mature in May 2006. The facility's lead arranger and sole
bookrunner was JPMorgan Securities, Inc. and the syndication agent was Citibank
N.A. Henry Schein plans to use its credit facility for general corporate
purposes, including working capital and capital expenditures, as well as
potentially for the funding of acquisitions.
ITEM 8.01. OTHER EVENTS.
On May 25, 2005, Henry Schein, Inc. issued a press release announcing
the new $300 million credit facility. Attached hereto and incorporated herein by
reference as Exhibit 99.1 is the press release.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibit 99.1 - Press Release dated May 25, 2005.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
HENRY SCHEIN, INC.
Date: May 25, 2005 By: /s/ Michael S. Ettinger
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Name: Michael S. Ettinger
Title: Vice President and General Counsel
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 Press release dated May 25, 2005
Exhibit 99.1
[GRAPHIC OMITTED][GRAPHIC OMITTED]
FOR: Henry Schein, Inc.
CONTACT: Steven Paladino
Executive Vice President and
Chief Financial Officer
steven.paladino@henryschein.com
(631) 843-5500
Susan Vassallo
Director, Corporate Communications
susan.vassallo@henryschein.com
(631) 843-5562
FOR IMMEDIATE RELEASE
HENRY SCHEIN ANNOUNCES $300 MILLION CREDIT FACILITY
MELVILLE, N.Y. - May 25, 2005 - Henry Schein, Inc. (Nasdaq NM: HSIC), the
largest distributor of healthcare products and services in the combined North
American and European markets, today announced a new $300 million credit
facility with a $100 million expansion feature. This new facility, which expires
in May 2010, replaces Henry Schein's current revolving credit facility, which
was scheduled to mature in May 2006. The facility's lead arranger and sole
bookrunner was JPMorgan Securities, Inc. and the syndication agent was Citibank
N.A.
Henry Schein plans to use its credit facility for general corporate
purposes, including working capital and capital expenditures, as well as
potentially for the funding of acquisitions.
"This transaction provides Henry Schein with an attractive long-term
borrowing facility. It reflects the strong credit and success of our company,
including average annual compound EBITDA growth over the last five years in
excess of 16%. The participants of the syndicate will also provide us with a
strong commercial banking structure to support our growing worldwide needs,"
said Steven Paladino, Executive Vice President and Chief Financial Officer of
Henry Schein.
ABOUT HENRY SCHEIN, INC.
Henry Schein, a Fortune 500(R) company, is recognized for its excellent
customer service and highly competitive prices. The Company's four business
groups - Dental, Medical, International and Technology - serve more than 475,000
customers worldwide, including dental practices and laboratories, physician
practices and veterinary clinics, as well as government and other institutions.
The Company's sales reached a record $4.1 billion in 2004. The Company operates
through a centralized and automated distribution network, which provides
customers in more than 125 countries with a comprehensive selection of over
160,000 national and Henry Schein private-brand products.
Henry Schein also offers a wide range of innovative value-added
practice solutions, including such leading practice management software systems
as DENTRIX(R) and Easy Dental(R) for dental practices, and AVImark(R) for
veterinary clinics, which are installed in over 50,000 practices; and ArubA(R),
Henry Schein's electronic catalog and ordering system.
Headquartered in Melville, N.Y., Henry Schein employs nearly 11,000
people and has operations in 19 countries. For more information, visit the Henry
Schein Web site at www.henryschein.com.
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