Henry Schein has acquired a majority interest in Shield Healthcare, a California-based supplier of home care medical products delivered directly to patients.
The financial terms of the deal, which was first announced in August, were not disclosed. Shield Healthcare’s current owners, including members of the company’s management team, will retain a minority ownership position in the company.
Shield Healthcare had approximately $180 million in net sales in 2022. Henry Schein expects the transaction to be neutral to 2023 non-generally accepted accounting principles (non-GAAP) earnings per share and accretive thereafter.
Shield Healthcare will expand Schein's existing medical business by delivering a range of products, including items for incontinence, urology, ostomy, enteral nutrition, and advanced wound care, as well as diabetes supplies. Additionally, it will offer continuous glucose monitoring devices directly to patients.