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Henry Schein expands credit

Claude Solnik //April 21, 2017 //

Henry Schein's Melville headquarters / Google Maps Photo

Henry Schein's Melville headquarters / Google Maps Photo

Henry Schein expands credit

Claude Solnik //April 21, 2017 //

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Melville-based healthcare products distributor Henry Schein has expanded its revolving credit facility from $500 million to $750 million, increasing its ability to acquire other firms and buy back its own shares.

The firm said it both expanded and extended the facility led by JP Morgan Securities and U.S. Bank through Sept. 2022.

CFO Steven Paladino said this will give the firm “the additional flexibility to take advantage of acquisition and share repurchase opportunities, as well as to use it for working capital and general corporate purposes.”

He added that this will assist with Schein’s “long-term internal and acquisition growth strategies, while maintaining a strong capital structure.”

Henry Schein is a Fortune 500 company and a member of the S&P 500 and the NASDAQ 100 indexes that employs more than 21,000 and serves more than 1 million customers.