06 November 2023

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Henry Schein Completes Acquisition of a Majority Interest in Shield Healthcare, Inc.

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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 Shield Healthcare, Inc., a leading supplier of homecare medical products delivered directly to patients in their homes. Henry Schein announced the agreement to acquire Shield Healthcare on August 3, 2023.

Headquartered in Valencia, Calif., Shield Healthcare had 2022 net sales of approximately $180 million. Henry Schein expects the transaction to be neutral to 2023 non-GAAP earnings per share and accretive thereafter. Financial terms were not disclosed.

“As the health care landscape continues to shift towards home-based care, we have expanded our business delivering medical products directly to patients through our partnership with Shield Healthcare,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer. “Through our strategic homecare products investments, our Henry Schein Medical business is increasingly well positioned to compete in the homecare medical supplies market. By combining our strong physician relationships, product distribution expertise, and corporate brand assortment, we are well positioned for growth in this market segment. We welcome our new Shield Healthcare colleagues to Team Schein, and we look forward to continued success together.”

Building on Henry Schein’s 2021 acquisition of Prism Medical Products LLC, Shield Healthcare will expand Henry Schein's existing medical business by delivering a diverse range of products, including items such as incontinence, urology, ostomy, enteral nutrition, advanced wound care, and diabetes supplies. Additionally, it will offer continuous glucose monitoring devices directly to patients in their homes.

The current owners of Shield Healthcare, including members of the company’s management team, will retain a minority ownership position in the company.

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 23,000 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.

Source: https://investor.henryschein.com/