MELVILLE, N.Y.–(BUSINESS WIRE)–Oct. 17, 2023– Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider of health care solutions to office-based dental and medical practitioners, announced it has completed the acquisition of Shield Healthcare, Inc., a leading supplier of homecare medical products delivered directly to patients in their homes. Henry Schein announced the agreement to acquire Shield Healthcare on August 3, 2023.
Headquartered in Valencia, Calif., Shield Healthcare had 2022 net sales of approximately $180 million. Henry Schein expects the transaction to be neutral to 2023 non-GAAP earnings per share and accretive thereafter. Financial terms were not disclosed.
“As the health care landscape continues to shift towards home-based care, we have expanded our business delivering medical products directly to patients through our partnership with Shield Healthcare,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer. “Through our strategic homecare products investments, our Henry Schein Medical business is increasingly well positioned to compete in the homecare medical supplies market. By combining our strong physician relationships, product distribution expertise, and corporate brand assortment, we are well positioned for growth in this market segment. We welcome our new Shield Healthcare colleagues to Team Schein, and we look forward to continued success together.”
Building on Henry Schein’s 2021 acquisition of Prism Medical Products LLC, Shield Healthcare will expand Henry Schein’s existing medical business by delivering a diverse range of products, including items such as incontinence, urology, ostomy, enteral nutrition, advanced wound care, and diabetes supplies. Additionally, it will offer continuous glucose monitoring devices directly to patients in their homes.
The current owners of Shield Healthcare, including members of the company’s management team, will retain a minority ownership position in the company.
About Henry Schein, Inc.
Henry Schein, Inc. (Nasdaq: HSIC) is a solutions company for health care professionals powered by a network of people and technology. With more than 23,000 Team Schein Members worldwide, the Company’s network of trusted advisors provides more than 1 million customers globally with more than 300 valued solutions that help improve operational success and clinical outcomes. Our Business, Clinical, Technology, and Supply Chain solutions help office-based dental and medical practitioners work more efficiently so they can provide quality care more effectively. These solutions also support dental laboratories, government and institutional health care clinics, as well as other alternate care sites.
Henry Schein operates through a centralized and automated distribution network, with a selection of more than 300,000 branded products and Henry Schein private-brand products in our distribution centers.
A FORTUNE 500 Company and a member of the S&P 500® index, Henry Schein is headquartered in Melville, N.Y., and has operations or affiliates in 33 countries and territories. The Company’s sales reached $12.6 billion in 2022, and have grown at a compound annual rate of approximately 12.1 percent since Henry Schein became a public company in 1995.
In 2023, the M&A market for healthcare companies continues to build on STRATEGIC opportunities in the current market. The strategic corporate buyers and private equity investors remain committed to acquiring strong businesses that are well prepared for a transaction. Across the continuum of care, these buyers and investors are looking for well established, profitable businesses and offering prime valuations and options for management.
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