Henry Schein To Expand Its Medical Group With Acquisition Of North American Rescue
Founded in 1996 by CEO
Henry Schein expects NAR will be neutral to the Company's 2019 earnings per share and accretive thereafter. Financial terms were not disclosed.
"NAR is a successful, growing company with an exceptional team that has created the recognized leader in the markets the company serves," said
NAR serves all branches of the U.S. military; various U.S. military departments and federal agencies; militaries of allied foreign countries; federal, state, and local law enforcement departments; emergency medical service providers and fire departments; and community preparedness organizations, including school districts and commercial and community centers. The company specializes in providing products to treat and overcome the three most common causes of preventable combat deaths, namely hemorrhaging, tension pneumothorax, and inadequate airway. NAR offers online education and training, which complements Henry Schein's commitment to provide continuing education tailored to a customer's specific needs.
"NAR offers a unique value proposition," Mr. Bergman added. "The company's ability to provide tailored, mission-enabling survivability products is critical to countering the rapidly evolving threats of the 21st century. We look forward to expanding our customer base, as well as to selling new, innovative, life-saving products and supplies that will keep us at the forefront of critically important military and civilian markets."
This investment offers multiple areas for growth and potential business synergies for both NAR and Henry Schein Medical. For NAR, this includes the combined ability to expand market share in the growing public safety market place, as well as the ability to sell more Henry Schein Medical and Henry Schein-branded products through NAR's existing channels. Additionally, NAR will have access to Henry Schein's broad product offering.
"NAR has enjoyed considerable business success over the past 20 years and our future is bright by having access to the resources, expertise, and global presence of Henry Schein," said Mr. Castellani. "NAR is
Mr. Castellani also expressed his wishes to continue championing causes that seek solutions to a range of societal issues. This commitment mirrors that of Henry Schein, whose global corporate social responsibility program, Henry Schein Cares, works to "help health happen" for underserved communities around the world.
About Henry Schein, Inc.
A Fortune 500® Company and a member of the S&P 500® and the Nasdaq 100® indexes, Henry Schein's network of trusted advisors provides health care professionals with the valued solutions they need to improve operational success and clinical outcomes. The Company offers customers exclusive, innovative products and solutions, including practice management software, e-commerce solutions, specialty and surgical products, as well as a broad range of financial services. Henry Schein operates through a centralized and automated distribution network, with a selection of more than 120,000 branded products and Henry Schein private-brand products in stock, as well as more than 180,000 additional products available as special-order items.
Headquartered in Melville, N.Y., Henry Schein has operations or affiliates in 34 countries. The Company's sales reached a record $12.5 billion in 2017, and have grown at a compound annual rate of approximately 15% since Henry Schein became a public company in 1995. For more information, visit Henry Schein at www.henryschein.com, Facebook.com/HenrySchein and @HenrySchein on Twitter.
North American Rescue (NAR), based in
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