With more than a combined 60 years of experience in the home health care, Roscoe Medical and Carex Health Brands announced Thursday that they will create a combined company to serve the growing home health market.
Though the terms of the merger are not being disclosed by either company, the merger will provide what both companies call “a dominant market distribution” across all channels from retail to durable medical equipment (DME) and managed care.
Together, the Strongsville, Ohio-based Roscoe Medical and Norwell, Massachusetts-based Carex employ over 200 employees and manage a large distribution network across the U.S.
As a result of the merger, the footprint of the combined organization, which has not been named, will grow the company’s ability to serve home healthcare customers across North America.
Both Roscoe Medical and Carex also intend that the merger will pool each of their organizations’ research and technology to streamline product development. as well as allow the combined entity to pursue growth opportunities while continually investing in the home medical equipment industry.
“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 business,” said Paul Gluth, president and CEO of Roscoe Medical, in a statement. “It aligns our goal of proving innovative solutions to our dealers as we continue to invest in the industry.”
There will be “very little” product overlap between the combined companies, said Carex President Matt McElduff in a statement.
Gluth will serve as the CEO of the new company and President of Roscoe Medical, while McElduff will continue to retain his position within Carex Health Brands. The combined company’s management team will also remain in place.
“The Roscoe brand has long been admired for many of the same values as Carex including quality, value and integrity,” said McElduff. “We are very excited by the opportunities this merger creates, brining Carex into many new product categories we haven’t been in before.”
Written by Jason Oliva