08:36 AM EST, 01/29/2025 (MT Newswires) -- Henry Schein (HSIC) said Wednesday that KKR will invest $250 million in the company, giving the investment firm a 12% stake with an option to raise its holding to 14.9%.

Under the agreement, Max Lin, a KKR partner, and William Daniel, an advisor to the investment firm, will join the board as independent directors. Robert Hombach will also join as an independent director, Henry Schein said.

The healthcare products distributor also reported preliminary Q4 non-GAAP diluted EPS of $1.19, up from $0.66 a year earlier. Analysts surveyed by FactSet expected $1.23. Preliminary Q4 revenue is expected to be $3.2 billion, compared with a FactSet estimate of $3.35 billion.

For 2025, revenues and non-GAAP diluted earnings per share are both expected to grow in the range of low to mid-single digits, the company said.

Q4 and 2024 financial results will be released on Feb. 25, the company said.

Henry Schein also said its board had authorized an increase in its stock buyback program of $500 million, with $250 million allocated for accelerated repurchases, the company said.

Henry Schein shares were 1.8% higher in premarket trading.