Henry Schein, Inc. (Nasdaq: HSIC), the world's largest provider of health care products and services to office-based dental and medical practitioners, today announced it has completed the acquisition of North American Rescue (NAR), the leading provider of survivability and casualty-care medical products to the defense and public-safety markets. The transaction was announced on January 23, 2019.
As previously reported, NAR generated record sales for the 12 months ended October 31, 2018, of approximately $184 million. As stated when Henry Schein announced its agreement with NAR, Henry Schein expects NAR to be neutral to the Company's 2019 earnings per share and accretive thereafter. Financial terms were not disclosed.
"North American Rescue is a highly regarded, fast-growing company that nicely complements our existing medical business, and we are delighted to have completed this merger," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "The addition of NAR advances our goal of gaining market share and adding knowledgeable management and expertise in the critically important defense and civilian markets around the globe. We welcome our new colleagues to Team Schein and look forward to continued success together."
With the transaction closed, NAR joins Henry Schein Medical, the U.S. medical business of Henry Schein, Inc., and will continue to be led by its current management team, including CEO Bob Castellani.
"By joining forces with Henry Schein, NAR will have access to the resources and capital necessary to accelerate our growth in the dynamic and highly competitive defense and public-safety markets," said Mr. Castellani. "We look forward to being a part of a Fortune 500® company with global reach. It is extremely gratifying for us to continue to reinvest in our business and to help the local economy grow by giving back to the communities where we live and work."
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 18,000 Team Schein Members worldwide, the Company's network of trusted advisors provides over 1 million customers globally with more than 300 valued solutions that 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 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.
A Fortune 500® Company and a member of the S&P 500® and the Nasdaq 100® indexes, Henry Schein is headquartered in Melville, N.Y., and has operations or affiliates in 31 countries. The Company's sales from continuing operations reached $9.4 billion in 2018, and have grown at a compound annual rate of approximately 13% 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.
About North American Rescue, LLC.
North American Rescue (NAR), based in Greer, South Carolina, has proudly enjoyed the honor of serving their country, community, and customers for over two decades. NAR is leading the way in decreasing preventable deaths by providing innovative casualty care solutions to our uniformed soldiers, first responders, health care professionals, and security forces both at home, and abroad in foreign combat zones. For more information on North American Rescue and products visit www.NARescue.com
