Henry Schein expands homecare market with Acentus acquisition

Henry Schein, Inc., the world’s largest healthcare solutions provider for office-based dental and medical practitioners, has solidified its position in the home medical supply market with the acquisition of Acentus, a leading supplier of home-delivered continuous glucose monitors (CGMs). The transaction, expected to close in early 2025, underscores Henry Schein’s commitment to meeting the rising demand for home-based healthcare solutions.

This acquisition will enhance Henry Schein’s homecare medical products platform, bringing the division’s annual revenue base to approximately $350 million. The move builds on Henry Schein’s strategic efforts in the homecare market, following its acquisitions of Prism Medical Products, LLC in 2021 and Shield Healthcare and Mini Pharmacy in 2023.

Stanley M. Bergman, Chairman and CEO of Henry Schein, emphasized that the acquisition aligns with the company’s vision to expand access to critical health supplies in home settings. He highlighted that the deal strengthens Henry Schein’s ability to deliver vital products directly to patients while also supporting a wide range of healthcare providers, from clinics to ambulatory surgery centers.

Acentus, headquartered in Tampa, Florida, specializes in disposable medical supplies and generates an estimated $35 million in annual revenue. Its inclusion in the Henry Schein portfolio marks a significant step forward in addressing the needs of patients managing chronic conditions, such as diabetes.

Industry analysts see this as a timely investment in a sector poised for rapid growth. As home healthcare gains traction across the U.S., Henry Schein’s acquisition of Acentus positions it as a key player in the market. The move not only broadens the company’s product offerings but also strengthens its ability to provide innovative solutions to healthcare providers and their patients.

Upon closing, Acentus co-founders Brett Carroll, Todd Cianfrocca, Greg Duvall, and Julio Valdivia will join Henry Schein to contribute their expertise to the company’s home medical supply division. Cianfrocca, who serves as Acentus’ CEO, expressed optimism about the partnership. He noted that integrating Acentus’ capabilities into Henry Schein’s platform would expand their ability to provide accessible medical supplies to individuals nationwide.

Henry Schein, headquartered in Melville, New York, reported revenues of $12.3 billion in 2023, reflecting a compound annual growth rate of 11.5% since its public listing in 1995. The Fortune 500 company operates in 33 countries and serves more than one million customers with a portfolio of over 300,000 branded and private-label products.

The financial terms of the Acentus transaction were not disclosed. However, Henry Schein projects the acquisition will be neutral to its non-GAAP earnings per share in 2024 and accretive in subsequent years.

Provident Healthcare Partners, LLC acted as the exclusive financial advisor to Acentus, highlighting the significance of the deal for both companies.

This acquisition represents a strategic response to the increasing demand for homecare services, a market that continues to grow as healthcare delivery transitions toward more patient-centric models. By leveraging Acentus’ expertise, Henry Schein is poised to enhance the accessibility and efficiency of home-based care, ultimately improving health outcomes for patients nationwide.