Acquisition will Enhance Home Delivery
Options for Patients with Specialized Health Care Needs
Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider
of health care solutions to office-based dental and medical
practitioners, announced today that it has signed an agreement to
acquire Acentus, a national medical supplier specializing in the
delivery of Continuous Glucose Monitors (CGMs).
The Acentus transaction follows Henry Schein’s acquisition of
Prism Medical Products, LLC in 2021 and Shield Healthcare and Mini
Pharmacy in 2023, reinforcing the Company’s strategic commitment to
the homecare medical supplies market. Henry Schein’s homecare
medical products platform will now have an annual revenue base of
approximately $350 million.
With annual revenue of approximately $35 million, Acentus is
headquartered in Tampa, Florida. Henry Schein expects the
transaction to be neutral to 2024 non-GAAP earnings per share and
accretive thereafter. Closing is subject to standard closing
conditions and is expected to be completed in the first quarter of
2025. Financial terms were not disclosed.
“As the delivery of health care in the U.S. is increasingly
provided in home-based settings, Henry Schein is strategically
expanding our offerings to meet the growing demand,” said Stanley
M. Bergman, Chairman of the Board and Chief Executive Officer,
Henry Schein, Inc. “We are pleased to announce our acquisition of
Acentus, which enhances our ability to deliver CGM products
directly to patients’ homes. With Acentus, we will strengthen our
position nationally in the home medical supply market and better
serve our valued customers, including clinics, physician practices,
health systems, ambulatory surgery centers, and most importantly,
patients and families.”
Upon closing, Acentus Founders Brett Carroll, Todd Cianfrocca,
Greg Duvall, and Julio Valdivia will join Henry Schein and bring
their expertise and experience in the product category and the
health care industry.
“We are delighted to partner with Henry Schein and further our
efforts to provide accessible disposable medical supplies to the
thousands of individuals nationwide who rely on these products to
manage their chronic conditions,” said Mr. Cianfrocca, CEO of
Acentus. “We are excited to contribute to the growth of Henry
Schein’s emerging home health care business.”
Provident Healthcare Partners, LLC acted as the exclusive
financial advisor to Acentus.
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 approximately 26,000 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.
Cautionary Note Regarding Forward-Looking Statements
In accordance with the “Safe Harbor” provisions of the Private
Securities Litigation Reform Act of 1995, we provide the following
cautionary remarks regarding important factors that, among others,
could cause future results to differ materially from the
forward-looking statements, expectations and assumptions expressed
or implied herein. All forward-looking statements made by us are
subject to risks and uncertainties and are not guarantees of future
performance. These forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause our
actual results, performance and achievements or industry results to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. These statements are generally identified by the use of
such terms as “may,” “could,” “expect,” “intend,” “believe,”
“plan,” “estimate,” “forecast,” “project,” “anticipate,” “to be,”
“to make” or other comparable terms. A fuller discussion of our
operations, financial condition, and status of litigation matters,
including factors that may affect our business and future
prospects, is contained in documents we have filed with the United
States Securities and Exchange Commission, or SEC, including our
Annual Report on Form 10-K, and will be contained in all subsequent
periodic filings we make with the SEC. These documents identify in
detail important risk factors that could cause our actual
performance to differ materially from current expectations. Forward
looking statements include the overall impact of the Novel
Coronavirus Disease 2019 (COVID-19) on the Company, its results of
operations, liquidity and financial condition (including any
estimates of the impact on these items), the rate and consistency
with which dental and other practices resume or maintain normal
operations in the United States and internationally, expectations
regarding personal protective equipment (“PPE”) products and
COVID-19 related product sales and inventory levels, whether
additional resurgences or variants of the virus will adversely
impact the resumption of normal operations, whether supply chain
disruptions will adversely impact our business, the impact of
integration and restructuring programs as well as of any future
acquisitions, general economic conditions including exchange rates,
inflation and recession, and more generally current expectations
regarding performance in current and future periods. Forward
looking statements also include the (i) ability of the Company to
have continued access to a variety of COVID-19 test types,
expectations regarding COVID-19 test sales, demand and inventory
levels, as well as the efficacy or relative efficacy of the test
results given that the test efficacy has not been, or will not have
been, independently verified under normal FDA procedures, and (ii)
potential for the Company to distribute the COVID-19 vaccines and
ancillary supplies.
Risk factors and uncertainties that could cause actual results
to differ materially from current and historical results include,
but are not limited to: risks associated with COVID-19 and any
variants thereof, as well as other disease outbreaks, epidemics,
pandemics, or similar wide-spread public health concerns and other
natural disasters; our dependence on third parties for the
manufacture and supply of our products; our ability to develop or
acquire and maintain and protect new products (particularly
technology products) and technologies that achieve market
acceptance with acceptable margins; transitional challenges
associated with acquisitions, dispositions and joint ventures,
including the failure to achieve anticipated synergies/benefits;
legal, regulatory, compliance, cybersecurity, financial and tax
risks associated with acquisitions, dispositions and joint
ventures; certain provisions in our governing documents that may
discourage third-party acquisitions of us; adverse changes in
supplier rebates or other purchasing incentives; risks related to
the sale of corporate brand products; effects of a highly
competitive (including, without limitation, competition from
third-party online commerce sites) and consolidating market; the
repeal or judicial prohibition on implementation of the Affordable
Care Act; changes in the health care industry; risks from expansion
of customer purchasing power and multi-tiered costing structures;
increases in shipping costs for our products or other service
issues with our third-party shippers; general global and domestic
macroeconomic and political conditions, including inflation,
deflation, recession, fluctuations in energy pricing and the value
of the U.S. dollar as compared to foreign currencies and changes to
other economic indicators, international trade agreements,
potential trade barriers and terrorism; failure to comply with
existing and future regulatory requirements; risks associated with
the EU Medical Device Regulation; failure to comply with laws and
regulations relating to health care fraud or other laws and
regulations; failure to comply with laws and regulations relating
to the collection, storage and processing of sensitive personal
information or standards in electronic health records or
transmissions; changes in tax legislation; risks related to product
liability, intellectual property and other claims; litigation
risks; new or unanticipated litigation developments and the status
of litigation matters; risks associated with customs policies or
legislative import restrictions; cyberattacks or other privacy or
data security breaches; risks associated with our global
operations; our dependence on our senior management, employee
hiring and retention, and our relationships with customers,
suppliers and manufacturers; and disruptions in financial markets.
The order in which these factors appear should not be construed to
indicate their relative importance or priority.
We caution that these factors may not be exhaustive and that
many of these factors are beyond our ability to control or predict.
Accordingly, any forward-looking statements contained herein should
not be relied upon as a prediction of actual results. We undertake
no duty and have no obligation to update forward-looking statements
except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20241119215268/en/
Investors Ronald N. South Senior
Vice President and Chief Financial Officer
ronald.south@henryschein.com (631) 843-5500
Graham Stanley Vice President, Investor Relations and Strategic
Financial Project Officer graham.stanley@henryschein.com (631)
843-5500
Media Ann Marie Gothard Vice
President, Global Corporate Media Relations
annmarie.gothard@henryschein.com (631) 390-8169
Henry Schein (NASDAQ:HSIC)
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