Henry Schein To Acquire TriMed To Enter Orthopedic Extremities Specialty Segment

(RTTNews) - Henry Schein, Inc. (HSIC), a healthcare solutions provider, Wednesday announced it has signed an agreement to acquire a major interest in TriMed, Inc., a developer of solutions for the orthopedic treatment of lower extremities and upper extremities. The acquisition is to enable the company to enter into the upper- and lower-extremities specialty segment of the orthopedic market.

The financial terms of this deal have not yet been divulged.

TriMed had net sales of around $48 million in 2022 and the deal is expected to close in the first quarter of 2024. Henry Schein expects the transaction to be neutral to 2024 non-GAAP earnings per share and accretive going forward.

TriMed founders David Medoff, chief commercial officer, and Robert Medoff, medical advisor, will continue with the company after the transaction.

Additionally, the company has entered into a strategic relationship with Extremity Medical LLC, a medical device company focused on developing new products for fusion, fixation, and motion preservation in the orthopedic treatment of the lower extremities and wrist.

The company believes that partnering with TriMed and Extremity will help establish itself as a leading manufacturer and supplier in the Foot and Ankle as well as Hand and Wrist extremity segments of the orthopedic market.

"Upper and lower extremities are among the fastest-growing segments of orthopedics, representing a total addressable market of more than $5.5 billion. We are confident that we will accelerate the reach of TriMed and Extremity on a global basis," said Tom Popeck, President of Henry Schein's Healthcare Specialties Group.

On Tuesday, Henry Schein shares closed at $74.12, up 0.50% on the Nasdaq.