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Carex Health Brands to merge with Roscoe Medical
March 27th, 2014
STRONGSVILLE, Ohio and NORWELL, Mass. – Roscoe Medical and Carex Health Brands plan to merge, creating a leading manufacturer, marketer and distributor of home health care products.
Financial terms of the deal weren't disclosed. Roscoe and Carex said Thursday that the merger will better position them to serve the growing home health care market, with dominant market distribution across all channels from retail to durable medical equipment (DME) and managed care.
Plans call for Roscoe Medical president and chief executive officer Paul Guth to serve as CEO of the merged company and president of Roscoe Medical. Carex Health Brands president Matt McElduff will retain his current title. The combined company's management team will remain in place.
"This transaction presents an opportunity to offer even greater combined value to our customers by offering Carex Health Brand products to the DME dealer channel, where many dealers are looking to increase their retail (cash) business," according to Guth. "It aligns our goal of providing innovative solutions to our dealers as we continue to invest in the industry."
Together, the two companies employ more than 200 employees and manage a large distribution network across the United States.
"The Roscoe brand has long been admired for many of the same values as Carex including quality, value and integrity," McElduff stated. “We are very excited by the opportunities this merger creates, bringing Carex into many new product categories we haven't been in before. In addition, there is very little channel or product overlap between Roscoe and Carex."
Roscoe and Carex noted that the merger will provide expanded product offerings and larger market distribution footprint, strengthening the combined company's ability to serve home health care customers across North America.
In addition, they said, the pooling of the combined organization's research and technology will help streamline product development and better address the evolving needs of the growing home health care demographic. The merger, too, is expected to enable the company to pursue growth opportunities while investing in the home medical equipment (HME) industry.
Strongsville, Ohio-based Roscoe Medical manufactures and distributes health care products that promote independence and better living in the home care setting. Its core product lines include respiratory products, CPAP products, pain management products and durable medical equipment.
Carex Health Brands, with headquarters in Norwell, Mass., markets its home health care products under the Carex, Apex, Bed Buddy and ThermiPaq brand names. Its products are used by home care patients, mobility product users, senior citizens and the general public. Carex is a market leader in branded home medical equipment sold through drug chains, mass merchants, independent pharmacies and supermarket retailers. The company also offers a broad product line in hot/cold pain management and medication compliance aids.