Strongsville, Ohio and Norwell, Massachusetts – March 31, 2014 – Roscoe Medical and Carex Health Brands are pleased to announce the merger of the two longtime leaders in home healthcare. The transaction will create a combined company well positioned to better serve the growing home healthcare market, with dominant market distribution across all channels from retail to DME and managed care and a product portfolio that is second to none.
Combined, the companies have more than 60 years of experience in the home healthcare market. They share a common vision of providing quality products that promote consumer independence and improved quality of life. Together, the two companies have over 200 employees and manage a large distribution network across the U.S.
“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,” said Paul Guth, President and Chief Executive Officer of Roscoe Medical. “It aligns our goal of providing innovative solutions to our dealers as we continue to invest in the industry.”
“The Roscoe brand has long been admired for many of the same values as Carex including quality, value and integrity,” said Matt McElduff, President of Carex Health Brands. “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.”
Key strategic benefits of the merger include:
- Expanded product offerings and larger market distribution footprint. The diversified products and larger market distribution footprint of the combined organization will strengthen the company’s ability to serve home healthcare customers across North America.
- Accelerated innovation. The anticipated pooling of the combined organization’s research and technology will help to streamline product development and better address the evolving needs of a continual growing consumer demographic.
- Enhanced financial flexibility and strength. The merger will allow the combined company to pursue growth opportunities while continually investing in the HME industry.
Paul Guth will serve as Chief Executive Officer of the new company and President of Roscoe Medical. Matt McElduff will continue to be President of Carex Health Brands. The combined company’s management team will remain in place.
About Roscoe Medical
Roscoe Medical, headquartered in Strongsville, Ohio, is a major manufacturer and distributor of innovative healthcare products that promote independence and better living in the homecare setting. The company’s core product lines include respiratory products, CPAP products, pain management products and durable medical equipment. Serving customers worldwide, the company is known for its superior customer service, quality products and competitive prices. For more information about the company and its products, visit Roscoe Medical’s website at www.roscoemedical.com.
About Carex Health Brands
Carex Health Brands markets its products under the Carex, Apex, Bed Buddy and ThermiPaq brand names. The company’s brands have achieved broad consumer awareness in the marketplace and its products are used by home care patients, mobility product users, senior citizens, and the general public. Carex is the market leader in branded home medical equipment sold through the drug store chains, mass merchants, independent pharmacies, and grocery retailers. In addition, Carex offers one of the broadest product lines in hot/cold pain management and medication compliance aids categories. Carex products are also fully stocked in the drug wholesalers who service this retail pharmacy market. Please visit www.carex.com for more information.