Henry Schein, headquartered in Melville, has agreed to acquire a majority interest in TriMed, a Santa Monica, CA-based developer of solutions for the orthopedic treatment of lower extremities – that is, foot and ankle – and upper extremities, primarily hand and wrist.
Henry Schein did not disclose the terms of the deal, but according to a news release, TriMed saw net sales of approximately $48 million in 2022.
Henry Schein also formed a strategic relationship with Parsippany, NJ-based Extremity Medical, a medical device company, The company develops products for fusion, fixation, and motion preservation in the orthopedic treatment of the lower extremities and wrist. Extremity Medical will continue to do business as a separate, stand-alone company.
“Partnering with the TriMed and Extremity teams will provide Henry Schein with a platform to establish ourselves as a leading manufacturer and supplier in the foot and ankle as well as hand and wrist extremity segments of the orthopedic market,” Stanley Bergman, chairman and CEO of Henry Schein, said in a written statement.
“We believe the experienced leadership team that we have assembled is well-positioned to leverage our deep and longstanding relationships with existing integrated delivery network and ambulatory surgery center customers,” he added.
TriMed founders David Medoff, chief commercial officer, and Dr. Robert Medoff, medical advisor, will remain part of the management team of TriMed, bringing to Henry Schein their expertise in such areas as product development and commercial relationships.
“Through our new partnership with Henry Schein, we look forward to working together to identify new opportunities to provide quality care to patients,” Medoff said in a written statement. “TriMed provides unique treatment options for challenging indications and injuries. Henry Schein will help to accelerate our growth and increase our reach within the medical community.”
Matthew Lyons, CEO of Extremity Medical, said that the company’s “strategic relationship with Henry Schein will enable us to expand our reach, ultimately improving patient care and outcomes.”
Tom Popeck, president of Henry Schein’s Healthcare Specialties Group, said the company is “looking forward to entering the extremity segment with the complementary portfolios of TriMed and Extremity Medical, which extend our Brasseler Medical orthopedic cutting accessories and revision instrument solutions.”
He added that 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.”
Adina Genn
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