Henry Schein Completes Acquisition Of North American Rescue

MELVILLE, N.Y., March 4, 2019 /PRNewswire/ -- Henry Schein, Inc. (Nasdaq: HSIC), the world's largest provider of health care products and services to office-based dental and medical practitioners, today announced it has completed the acquisition of North American Rescue (NAR), the leading provider of survivability and casualty-care medical products to the defense and public-safety markets. The transaction was announced on January 23, 2019.

As previously reported, NAR generated record sales for the 12 months ended October 31, 2018, of approximately $184 million. As stated when Henry Schein announced its agreement with NAR, Henry Schein expects NAR to be neutral to the Company's 2019 earnings per share and accretive thereafter. Financial terms were not disclosed.

"North American Rescue is a highly regarded, fast-growing company that nicely complements our existing medical business, and we are delighted to have completed this merger," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "The addition of NAR advances our goal of gaining market share and adding knowledgeable management and expertise in the critically important defense and civilian markets around the globe. We welcome our new colleagues to Team Schein and look forward to continued success together."

With the transaction closed, NAR joins Henry Schein Medical, the U.S. medical business of Henry Schein, Inc., and will continue to be led by its current management team, including CEO Bob Castellani.

"By joining forces with Henry Schein, NAR will have access to the resources and capital necessary to accelerate our growth in the dynamic and highly competitive defense and public-safety markets," said Mr. Castellani. "We look forward to being a part of a Fortune 500® company with global reach. It is extremely gratifying for us to continue to reinvest in our business and to help the local economy grow by giving back to the communities where we live and work."   

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 18,000 Team Schein Members worldwide, the Company's network of trusted advisors provides over 1 million customers globally with more than 300 valued solutions that 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.

Henry Schein operates through a centralized and automated distribution network, with a selection of more than 120,000 branded products and Henry Schein private-brand products in stock, as well as more than 180,000 additional products available as special-order items.

A Fortune 500® Company and a member of the S&P 500® and the Nasdaq 100® indexes, Henry Schein is headquartered in Melville, N.Y., and has operations or affiliates in 31 countries. The Company's sales from continuing operations reached $9.4 billion in 2018, and have grown at a compound annual rate of approximately 13% since Henry Schein became a public company in 1995.

For more information, visit Henry Schein at www.henryschein.com, Facebook.com/HenrySchein and @HenrySchein on Twitter.

About North American Rescue, LLC.
North American Rescue (NAR), based in Greer, South Carolina, has proudly enjoyed the honor of serving their country, community, and customers for over two decades. NAR is leading the way in decreasing preventable deaths by providing innovative casualty care solutions to our uniformed soldiers, first responders, health care professionals, and security forces both at home, and abroad in foreign combat zones. For more information on North American Rescue and products visit www.NARescue.com or call (864) 675-9800.

Cautionary Note Regarding Forward-Looking Statements

In accordance with the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, we provide the following cautionary remarks regarding important factors that, among others, could cause future results to differ materially from the forward-looking statements, expectations and assumptions expressed or implied herein.  All forward-looking statements made by us are subject to risks and uncertainties and are not guarantees of future performance.  These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance and achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  These statements are identified by the use of such terms as "may," "could," "expect," "intend," "believe," "plan," "estimate," "forecast," "project," "anticipate" or other comparable terms.  A full discussion of our operations and financial condition, including factors that may affect our business and future prospects, is contained in documents we have filed with the United States Securities and Exchange Commission, or SEC, and will be contained in all subsequent periodic filings we make with the SEC. These documents identify in detail important risk factors that could cause our actual performance to differ materially from current expectations.

Risk factors and uncertainties that could cause actual results to differ materially from current and historical results include, but are not limited to: effects of a highly competitive and consolidating market; our dependence on third parties for the manufacture and supply of our products; our dependence upon sales personnel, customers, suppliers and manufacturers; our dependence on our senior management; fluctuations in quarterly earnings; risks from expansion of customer purchasing power and multi-tiered costing structures; increases in shipping costs for our products or other service issues with our third-party shippers; general global macro-economic conditions; risks associated with currency fluctuations; risks associated with political and economic uncertainty; disruptions in financial markets; volatility of the market price of our common stock; changes in the health care industry; implementation of health care laws; failure to comply with regulatory requirements and data privacy laws; risks associated with our global operations; transitional challenges associated with acquisitions and joint ventures, including the failure to achieve anticipated synergies; financial risks associated with acquisitions and joint ventures; litigation risks; new or unanticipated litigation developments; the dependence on our continued product development, technical support and successful marketing in the technology segment; our dependence on third parties for certain technologically advanced components; increased competition by third party online commerce sites; risks from disruption to our information systems; cyberattacks or other privacy or data security breaches; and certain provisions in our governing documents that may discourage third-party acquisitions of us; changes in tax legislation. The order in which these factors appear should not be construed to indicate their relative importance or priority. 

We caution that these factors may not be exhaustive and that many of these factors are beyond our ability to control or predict.  Accordingly, any forward-looking statements contained herein should not be relied upon as a prediction of actual results.  We undertake no duty and have no obligation to update forward-looking statements.

SOURCE Henry Schein, Inc.

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