MELVILLE, N.Y.–(BUSINESS WIRE)–Henry Schein, Inc. (NASDAQ: HSIC), the world’s largest provider of health care solutions to office-based dental and medical practitioners, today announced it has completed the acquisition of TriMed, Inc., a global developer of solutions for the orthopedic treatment of lower extremities and upper extremities.
Henry Schein announced the agreement to acquire a majority interest of TriMed on December 20, 2023. The addition of TriMed will strengthen Henry Schein’s deep and longstanding relationship with existing Integrated Delivery Networks (IDNs) and Ambulatory Surgery Center (ASC) customers by providing a wider range of surgical solutions. This reflects the Company’s strategy to expand the sale of Henry Schein-owned brands to new and existing customers.
Headquartered in Santa Clarita, CA, TriMed had 2023 net sales of approximately $52 million. Henry Schein expects the transaction to be neutral to 2024 non-GAAP earnings per share and accretive thereafter. Financial terms were not disclosed.
“With this new partnership, Henry Schein is reinforcing our commitment to meeting the evolving needs of our customers in the orthopedic market and providing health care professionals with the tools needed to deliver outstanding care to patients,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer, Henry Schein, Inc. “By leveraging TriMed’s established presence and reputation, together we will expand our product offering and provide comprehensive orthopedic solutions to our customers. We welcome our new TriMed colleagues to Team Schein, and we look forward to continued success together.”
TriMed founders David Medoff, Chief Commercial Officer, and Robert Medoff, MD, Medical Advisor, will continue to be a part of the management team of TriMed and bring to Henry Schein extensive experience in the extremities market, primarily in product development and commercial relationships.
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 25,000 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 stock.
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 $12.3 billion in 2023, and have grown at a compound annual rate of approximately 11.5 percent since Henry Schein became a public company in 1995.
For more information, visit Henry Schein at www.henryschein.com, Facebook.com/HenrySchein, Instagram.com/HenrySchein, and @HenrySchein on X.
