Employees grab Shield Healthcare
Valencia, Calif. - Shield Healthcare's executive management team bought a controlling interest in the company Nov. 1 from its parent, Japan-based Kobiyashi Pharmaceuticals.
Terms of the deal were not disclosed, but Kobiyashi--which retains a minority interest for now--had been looking to sell the company.
"The jobs of 300 people are protected," said Jim Snell, president/CEO. "We will be able to maintain a 50-year tradition of service to the medically fragile community."
With the majority of the management team averaging 20 years with the company, Todd Smith, senior marketing manager, said he expects a seamless transition.
"They've been hands-on management anyway, so there won't be any change in terms of culture or strategic objectives," he said. "Our culture, our mission isn't going to change."
Shield has three distribution hubs--in California, Colorado and Illinois--as well as several sales centers in those states, serving primarily Medicare/Medicaid patients in the home delivery market.
With the company under local management, Shield plans to speed up its growth pace. It is currently in talks to acquire one or two new businesses in the near future.
"We'll be quicker to market with new product lines and quicker to expands," said Smith.
Shield plans to enter the CPAP market soon and is looking at diabetic supplies, some pharmacy-based items and mobility products, said Smith.