The U.S. Federal Trade Commission alleges Henry Schein and two other dental supply companies violated antitrust laws, refusing to provide discounts to buying groups.
Here are six things to know:
1. The FTC alleges Henry Schein, Benco and Patterson are denying buying groups, competitive pricing. The FTC specifically alleges that Henry Schein and Benco entered into an agreement refusing to provide pricing discounts, citing communications between the companies' executives. Patterson later joined the agreement. Benco also invited the nation's fourth largest dental supplier, Burkhart Dental Supply, into the agreement, but to date, no evidence was found of Burkhart's participation.
2. In a statement, Henry Schein denied all FTC allegations. Henry Schein said it "was a leader in supplying buying groups, has consistently done business with buying groups, has a dedicated team to serve buying groups and never entered into an agreement with others to refuse to do business with buying groups."
3. The dental company noted it does business with more than 100 buying groups, including some of the buying groups the FTC alleges Henry Schein is boycotting.
4. Henry Schein does not anticipate this accusation will affect its financial condition or operations.
5. Henry Schein noted its recent inclusion on Ethisphere's list of the World's Most Ethical Companies and Fortune's list of the World's Most Admired Companies.
6. "[Henry Schein] believes that the allegations as described in the press release are meritless and intends to defend itself vigorously," the statement read.
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Here are six things to know:
1. The FTC alleges Henry Schein, Benco and Patterson are denying buying groups, competitive pricing. The FTC specifically alleges that Henry Schein and Benco entered into an agreement refusing to provide pricing discounts, citing communications between the companies' executives. Patterson later joined the agreement. Benco also invited the nation's fourth largest dental supplier, Burkhart Dental Supply, into the agreement, but to date, no evidence was found of Burkhart's participation.
2. In a statement, Henry Schein denied all FTC allegations. Henry Schein said it "was a leader in supplying buying groups, has consistently done business with buying groups, has a dedicated team to serve buying groups and never entered into an agreement with others to refuse to do business with buying groups."
3. The dental company noted it does business with more than 100 buying groups, including some of the buying groups the FTC alleges Henry Schein is boycotting.
4. Henry Schein does not anticipate this accusation will affect its financial condition or operations.
5. Henry Schein noted its recent inclusion on Ethisphere's list of the World's Most Ethical Companies and Fortune's list of the World's Most Admired Companies.
6. "[Henry Schein] believes that the allegations as described in the press release are meritless and intends to defend itself vigorously," the statement read.
More articles on dental:
Pennsylvania dentist faces federal charges after prescribing medically unnecessary prescriptions: 3 insights
Henry Schein is one of the world's most ethical companies: 3 highlights
Montana VA delays dental care for much of 2017 after possible retaliatory firing attempt