Henry Schein acquires majority interest in Prism Medical Products, enters home medical supply market

January 5, 2021  –  Henry Schein, Inc. (Melville, NY) announced the acquisition of a majority ownership position in Prism Medical Products, LLC (PRISM) (Elkin, NC), a nationwide provider of specialty home medical supplies with a core competency in advanced wound care products.

PRISM is a privately held company founded in 2006 with headquarters in Elkin, North Carolina, as well as an operations office in Las Vegas, Nevada, and 10 fulfillment centers located across the U.S.

PRISM serves a broad and loyal referral network of nationally affiliated and independently operated wound care clinics, as well as specialist practices and clinics in primary care, ostomy, podiatry, rehabilitation and physical therapy, general and plastic surgery, dermatology, and vascular medicine. PRISM enjoys strong referral retention rates as well as high marks for customer satisfaction.

According to the company, PRISM offers approximately 4,000 unique items from more than 30 manufacturers; 90% of shipments are wound-care products, with the balance being ostomy and urological supplies. PRISM ships directly to a patient’s home and has a dedicated insurance, billing, client care, and account management team of professionals, which allows next-day delivery on most orders received by 4 p.m. across each time zone in the continental U.S.

The company has more than 200 team members and had net revenue for the 12 months ended September 30, 2020, of approximately $52 million. PRISM is expected to be neutral to Henry Schein’s 2021 earnings per diluted share and accretive thereafter.

With this transaction, Henry Schein Medical, the U.S. medical division of Henry Schein, Inc., enters an established and growing multibillion-dollar market for home medical equipment and supplies.

PRISM will operate as a subsidiary of Henry Schein Medical and will be managed separately as an individual division by Chris Cartwright, Founder and President of Prism Medical Products.

Financial terms were not disclosed.

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