Henry Schein Inc. acquires 2 specialty drug distributors
Long Island Business News, Nov 21, 2003 by LIBN Staff
Health care products distributor Henry Schein Inc. (Nasdaq: HSIC) said it acquired two Chicago-based distributors of specialty pharmaceuticals.
Schein said it closed on the deal for Damer & Cartwright Pharmaceutical Inc. and American Medical Services, privately held affiliated companies. Terms of the all cash transaction were not disclosed.
The two firms had combined revenues of more than $100 million for the last 12 months, Schein said. The acquisitions are expected to be accretive to Henry Schein's 2004 earnings, the company said.
Damer & Cartwright distributes drugs used to treat cancer, infertility, hepatitis and respiratory diseases. American Medical Services distributes cancer drugs and other health care supplies, primarily to oncologists.
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The two firms are run by the same executive management team who, Schein said, will continue to be actively involved in managing these businesses.
Schein said the firms serve customers primarily in Illinois and will serve as a platform for national expansion into rapidly growing markets.
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