Patterson Companies, Inc. was recently named one of America’s 100 Most Trustworthy Companies by Forbes. Patterson provides supplies, equipment, technology and services to the dental, veterinary and rehabilitation supply markets through its Patterson Dental, Webster Veterinary and Patterson Medical businesses.
Independent financial analytics company GMI provided the list, based on its evaluation of the quantitative and qualitative data of more than 8,000 companies traded on U.S. exchanges. The findings assess the quality of corporate accounting and management practices.
Patterson Companies Executive Vice President and Chief Financial Officer Steve Armstrong said, “As a Company committed to bringing value to customers and shareholders for the long term, we are honored to be recognized as a model for openness and integrity.”
GMI used a rating system that assigns each company an accounting and governance risk (AGR) score. According to GMI, companies with a track record of transparent and conservative accounting practices; solid corporate governance and management; and upfront revenue and expense recognition and asset valuation receive the best scores. The evaluation penalizes companies with issues that can indicate higher risk to the company or that may not align with the interests of shareholders.
According to the Forbes article “America’s Most Trustworthy Companies” (posted online March 20), GMI Chairman James A. Kaplan said, “Many studies have shown that well-governed companies with transparent accounting have a higher price premium than their competitors, reduced cost of capital, and a higher long-term return for shareholders.”
About Patterson Companies, Inc.
Patterson Companies (Nasdaq: PDCO) is a global provider of complete, progressive solutions to specialty healthcare markets.
As Patterson’s largest business, Patterson Dental provides a virtually complete range of consumable dental products, equipment and software, turnkey digital solutions and most- needed services to dentists and dental laboratories throughout North America.
Webster Veterinary is one of the nation’s largest distributors of consumable veterinary supplies, equipment and software, diagnostic products, vaccines and pharmaceuticals to veterinary clinics.
Patterson Medical is the world’s leading distributor of rehabilitation, sports medicine and assistive patient products to the physical and occupational therapy markets. This customer base includes hospitals, long-term care facilities, clinics and dealers.