Healthcare products direct marketer Henry Schein Inc., Melville, NY, announced Dec. 29 that it will acquire General Injectables and Vaccines for $65 million in cash and up to $80 million in additional sales incentives. The acquisition of GIV, Bastian, VA, is Schein's sixth of 1998 and fourth in the United States. The direct-to-physician supplier also has purchased Bedsole Medical Co., Mobile, AL, Columbia Medical, Columbia, MD, and Meer Dental Supply, Canton, MI, with combined annual revenues of $217 million. GIV's annual revenues for 1998 are an estimated $118 million. GIV will become part of Schein's Medical Group but will operate as a stand-alone company. It distributes vaccines to 32,000 medical office customers through a 50-person call center that handles more than 1 million calls per year. The acquisition expands Schein's position in the vaccine market, which CEO Stanley Bergman predicts will see annual growth of 15 percent for the next five years.
This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization.