Henry Schein brings in new head of investor relations
Henry Schein, the world’s leading supplier of dental, medical and animal healthcare products and services, has appointed Carolynne Borders as vice president of investor relations.
With an IR career spanning some 20 years, Borders joins the company from SMSC, a semiconductor design firm that was acquired by Microchip in August 2012. She held a similar role at Andrea Electronics, a digital audio products company.
She previously served as a senior associate at the Financial Relations Board, one of the oldest financial communications agencies in the US, representing the firm’s technology clientele. Borders was also co-founder and executive vice president of LI Invest, a former non-profit organization that promoted investment in the Long Island region.
‘Carolynne brings a strong track record in the development and execution of results-driven investor relations programs,’ says Steven Paladino, executive vice president and CFO of Henry Schein, in a company statement. ‘Over her career, Carolynne has built a valuable network of relationships with the financial community as well as an expertise in institutional targeting, strategic acquisition communications and enhancing corporate reputation.’
Borders joins Henry Schein as the only member of the IR department, filling a position that had ‘been open for a few years,’ says the company.
‘I will implement a cohesive IR program aimed at gaining mindshare with both the buy side and the sell side,’ adds Borders. ‘Ultimately, my job as an IRO is to ensure management’s strategic vision and the value we deliver is well understood by the Street so that we are top of mind as it decides where to make its investments.’
Net income at the Fortune 500 firm has grown from $9.1 mn in 1995, its first year as a public company, to $367.7 mn. Third quarter 2012 profits reached $96.8 mn, a 5.2 percent increase on the $92 mn in the same period last year. Sales reached a record $8.5 bn in 2011.
Henry Schein says it has successfully integrated more than 50 acquisitions since 2005, advising investors in its Q3 2012 presentation that future sales growth will come from a balance of internal growth and acquisitions.