Henry Schein Completes Acquisition of Shield Medical Expanding Home Care Offering
Henry Schein, Inc. has revealed that it has completed the acquisition of a majority ownership position in Shield Healthcare, Inc. This strategic agreement aims to bolster Henry Schein’s homecare medical product offerings, reinforcing the company’s commitment to its continuum-of-care delivery model.
Following its acquisition of Prism Medical Products LLC in 2021, Henry Schein is further expanding its presence in the homecare medical supplies market by partnering with Shield Healthcare. The move significantly extends Henry Schein’s homecare medical products platform, providing a more comprehensive range of services. With this acquisition, the platform’s annualized revenue is set to surpass $300 million. Shield Healthcare offers a diverse portfolio of medical products, including incontinence, urology, ostomy, enteral nutrition, advanced wound care, diabetes supplies, and continuous glucose monitoring devices, all delivered directly to patients in the home setting.
Based in Valencia, California, Shield Healthcare achieved net sales of around $180 million in 2022. The financial terms of the deal have not been disclosed, however, Henry Schein anticipates that the transaction will have a neutral impact on its 2023 non-GAAP earnings per share and will become accretive afterward.
Henry Schein is one of the largest distributors of medical products in the United States and serves over 1 million customers globally selling over 300 different medical solutions. Henry Schein provides comprehensive solutions in the areas of Business, Clinical, Technology, and Supply Chain, specifically designed to help dental and medical practitioners in office-based settings.
Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein, emphasized the importance of evolving with the changing landscape of healthcare. “As the U.S. population ages and care increasingly moves into the home, Henry Schein is meeting this trend by enhancing our homecare medical products offering. We are delighted to expand our presence in delivering medical products directly to patients through Shield Healthcare. Together, we share an unwavering commitment to customer satisfaction.”