Henry Schein today announced it completed the acquisition of majority interest in TriMed.
Melville, N.Y.-based Henry Schein announced the acquisition in December last year. The addition of TriMed strengthens Henry Schein’s extremities portfolio. Santa Clarita, California-based TriMed makes orthopedic devices for the lower extremities (foot and ankle) and upper extremities (hand and wrist).
“With this new partnership, Henry Schein is reinforcing our commitment to meeting the evolving needs of our customers in the orthopedic market and providing health care professionals with the tools needed to deliver outstanding care to patients,” CEO Stanley Bergman said in a news release. “By leveraging TriMed’s established presence and reputation, together we will expand our product offering and provide comprehensive orthopedic solutions to our customers. We welcome our new TriMed colleagues to Team Schein, and we look forward to continued success together.”
In 2023, TriMed had net sales of approximately $52 million. Henry Schein expects the transaction to be neutral to 2024 non-GAAP earnings per share and accretive thereafter.
TriMed founders David Medoff, who is chief commercial officer, and Robert Medoff, a medical advisor, will continue to be a part of the management team of TriMed. They bring extensive experience in product development and commercial relationships in the extremities market.
