STRONGSVILLE, Ohio — Roscoe Medical and Carex Health Brands on Thursday announced the merger of the two companies. Terms of the merger are not being disclosed.
“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 CEO 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 identified by the companies include an 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. And 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.
The merger also will allow the combined company to pursue growth opportunities while continually investing in the HME industry.
Paul Guth will serve as CEO 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.