Inside Henry Schein’s Game Plan: Will Anynam’s Shake-Up Deliver Results?

Henry Schein, a global leader in healthcare products and services, has faced significant scrutiny following the intervention of activist investor Anynam. With demands for a new CEO, strategic cost cuts, and a refined approach to capital allocation, Anynam has raised concerns over Henry Schein’s performance and governance. The activist’s recommendations include splitting the company’s dental and medical businesses, enhancing operational efficiencies, and reassessing leadership for improved shareholder returns. While Henry Schein has weathered several challenges, including a cyberattack and market headwinds in 2023, its Board has resisted major restructuring, emphasizing the integration of its dental and medical units and defending its strategic approach. Anynam’s presence has reignited discussions about whether sharper focus and cost optimization could unlock latent value in Henry Schein. The company recently undertook its largest restructuring plan to date, targeting $75-$100 million in annualized cost savings. With a reputation for being a value-added distributor and manufacturer, Henry Schein must now navigate macroeconomic uncertainties, industry-specific challenges, and the scrutiny of an engaged shareholder base.