December 20, 2023- Henry Schein, Inc. announced plans to enter the upper- and lower-extremities specialty segment of the orthopedic market in line with our long-standing strategy.
Henry Schein announced that it has signed an agreement to acquire a majority interest in TriMed, Inc., a global developer of solutions for the orthopedic treatment of lower extremities (foot and ankle) and upper extremities (primarily hand and wrist).
Headquartered in Santa Clarita, CA, TriMed had 2022 net sales of approximately $48 million. The transaction is subject to certain regulatory approvals and closing conditions, and is expected to be completed in the first quarter of 2024. Henry Schein expects the transaction to be neutral to 2024 non-GAAP earnings per share and accretive thereafter. Financial terms were not disclosed.
In addition, Henry Schein has entered into a strategic relationship with Extremity Medical LLC, an innovative medical device company focused on developing new products for fusion, fixation, and motion preservation in the orthopedic treatment of the lower extremities and wrist. Headquartered in Parsippany, NJ, Extremity Medical will operate as a separate, stand-alone company.