KKR Acquires Strategic Stake in Henry Schein for Operational Enhancements
KKR & Co. has acquired a 12% strategic stake in Henry Schein Inc., positioning itself as the largest non-index fund shareholder. The investment aims to drive operational improvements at Henry Schein, the leading global distributor of medical products to healthcare professionals.
Under the agreement, KKR representatives Max Lin and William K. Daniel will join Henry Schein's board as independent directors. Additionally, KKR has the option to increase its stake to nearly 15%.
"We believe that there are significant opportunities to create long-term value for Henry Schein," said KKR. "We are excited to contribute our expertise in operational improvements to support the company's growth and shareholder returns."
Henry Schein, with a market capitalization of approximately $9.5 billion, has been facing an activist campaign by Ananym Capital Management. This transaction with KKR strengthens Henry Schein's position and aligns with the company's ongoing efforts to enhance its operations.
The companies plan to collaborate on identifying and pursuing opportunities to further enhance shareholder value. The transaction follows the recent news of KKR's acquisition of a controlling interest in AmerisourceBergen, another major healthcare distributor.