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Boomers, Pets Helping Henry Schein Grow

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    Henry Schein CEO Stanley Bergman on the company’s growth and recent acquisitions.

  • Duration 4:32
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-- and the poppies shares of the health care products provider hit all time high today.

After the company posted better than expected first quarter earnings and raised its full year earnings estimate Stanley burden is the chairman CE.

Shively joins me now placed first on Fox Business interview and -- the president meet you I know that -- -- this talk to talking many times.

-- sales were very strong for you up about five and a half percent in the quarter.

But also animal services animal health services you're seeing a big boost their so where's the growth for you going forward if -- had to pick one of the to rethink that the positive -- gonna come.

Well first it was great to be cute show.

You know -- business is a business with steady growth we have driven by the baby boomers now.

Customers the physicians the dentist and the veterinarians.

Off.

Could -- gaining a lot of patients and activity from the baby -- is the most educated generation -- understand the importance of preventative -- The most affluent generation and they'll spending more money and time with dentist positions and of course investing more -- -- And -- overall for the business if you look at the geography of your business 36% of your sales -- international -- Do you think that it's more the international consumer that's kind of -- coming -- preventative.

Health consumer or do you think it's.

Maybe -- little domestic I think it's both I think people understand the importance of ROK.

Are okay and ties in with the overall.

Health kid the well being of the human beings.

The take care of our okay.

The better quality life I think people understand the importance of preventative -- in the physician area.

And of course spending more money with that -- throughout the developed world and I must say even developing.

Well that's very interesting and probably good to hear actually does that make -- that -- healthier pets are becoming more healthy you've been on an acquisitions hair I mean that you've acquired about fifty companies since 2000 but.

The role do you integrate that many companies all the cultures of both companies this under the Henry Schein.

Umbrella well part of now.

-- growth strategy has been -- positions.

We've been making acquisitions really -- about somewhere between one and one and a half a month.

For these sixteen plus years we've been a public company and the number one challenge and I think there -- very good act is understanding.

The culture of the company that we merging with and providing the executives in the team -- the company that is going to merge with -- but the good understanding about culture and aligning our interest from a cultural point to be.

Earlier acquisitions Afghanistan was a UV veterinary services Dutch come.

It -- think about Europe and the connection in Europe are you concerned about the European economy would that be a problem for you considering that you do have -- -- you have had strength in Europe are you worried about.

You know recession there at all.

Well I think of course one has to always worry about the economy but having said that a big part of our business -- in Germany.

-- -- a significant amounts of dental care for example which is our biggest business in Europe because international dozens.

Is government funded and I don't think there's any -- And all of cutting reimbursement full dental services effect.

Reimbursement went up slightly.

I was looking at -- study that over the -- you look at the last 25 years.

Aim at a hospital visits is flat DS at the amount of outpatient care we're going to the doctor we're leaving we're we're seeing a -- for.

But it well that is critical it is in.

The public interest public policy interest to make sure that the first line of defense and health care.

Is the primary care physicians not the emergency room so many procedures much activities moving from the hospital the -- -- case sitting before it -- Egos don't have to ask you this one of the big pieces of the president's health care legislation along is preventative care less if the Supreme Court overturned the legislation yes does that mean Treo I've.

The American people the public understand the importance of primary care.

The issues who's gonna pay and that's what Health Care Reform is all about I think there are very few Americans that's would say.

You know a lot if people don't have money they shouldn't be able to see a primary care physician so I think we're on -- move with primary kid will be.

A key part of health care in the future -- Ourselves and our pets and that's a great he's your business Stanley Bergman really nice to meet thank you for coming on count on the closing bell -- -- -- -- -- -- Thank you -- -- at the close -- -- and we have fifty minute.

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