PhysiciansCare First Aid and Medications

PhysiciansCare
Industry First Aid Products and Medications
Owner Acme United Corporation
Website PhysiciansCare Home

PhysiciansCare is a First Aid and over-the-counter (OTC) medical products brand of Acme United Corporation. The history of PhysiciansCare dates back to 1965, when Acme Shear Company, the predecessor of Acme United Corp., entered the medical industry, with the production of disposable medical scissors and instruments for hospital use. The business thrived and new products were added to the procedural tray line to meet the specialized needs of hospitals, clinics and convalescent homes.

During the 1990s there were a number of unsuccessful acquisitions and as a result, revenues declined. In 1999, the Company sold the hospital products business and decided to focus on the first aid products line. Today, PhysiciansCare sells first aid kits, refills, OTC medications and safety products in the school, home, office, hardware and industrial markets.

History

1960s

Because Acme Shear Company, a major scissors manufacturer, noticed increasing demand for disposable medical scissors and surgical instruments, it entered the medical products field in 1965. The company manufactured the products and sold them to hospital distributors.[1] These simple devices, formed from coiled steel, could be sterilized, thereby avoiding passing infections between patients.

The first few years, Acme Shear outsourced the packaging. However, by 1969, the business did so well that the company opened a manufacturing plant in Fremont, North Carolina, which met government requirements for the production and packaging of medical equipment.[2]

1970s

During the 1970s, medical expenditures increased, and so did demand for medical instruments.[3] Acme Shear, which changed its name to Acme United in 1971,[4] acquired One Time Package Products Inc., in 1972. This deal allowed the company's Medical Products Division to market its own line of products, including One Time disposable procedure trays, disposable stainless steel instruments, and ACU-Dyne povidone-iodine germicide packaged in bottles and flexible packages. Each year, new products were added to meet the specialized needs of its customers. In 1978, the company brought a line of wound dressings to the market.[5]

1980s

Acme United’s results flourished thanks to its successful medical products business. This would completely change during the 1980s for three reasons. First of all, the company’s biggest customer, American Hospital Supply, who accounted for $22 million in sales in 1983, started manufacturing medical products itself.[6] Secondly, hospitals began to pool their orders so that they were able to demand steeper discounts, which affected Acme United's margins. And finally, the company faced strong competition from Smith & Nephew, a medical supplier from the United Kingdom that had recently entered the market.

1990s

Despite difficult market conditions, the company set on an expansion course during the early nineties. In January 1992, it acquired SePro Healthcare, Inc., the U.S. subsidiary of the Seton Healthcare Group, PLC of Oldham, UK. With this deal, Acme United obtained exclusive distribution rights to Seton's pressure therapy bandages and specialized wound dressings.[7]

Later in 1992, the company acquired the exclusive marketing and distribution rights for a number of intravenous therapy products for hospitals and the after-care market from OPCO Medical Products Ltd.[8] Also in 1992, Acme United acquired the U.S. marketing and distribution rights for the Royl-Derm lines of skin care and wound-care products, designed to relieve or eliminate the pain connected with skin burns, wounds, ulcers and blemishes often experienced by elderly and bed-ridden patients.[9]

However, the company encountered many problems with bringing these new items to the market. After a few unsuccessful attempts to launch the OPCO products, Acme discontinued this line in 1995.[10] The Royl-Derm line faced the same faith one year later. It was unsuccessful, as it was launched simultaneously with several competitive brands, which resulted in widespread price cutting and slow acceptance of the products.[11]

Because sales of the medical products division declined by 12% in 1996,[12] the re-organization continued. In 1997, Acme United sold its distribution rights for certain wound care products back to Seton Healthcare International Limited for approximately $2.0 million.[13] The sale did allow the company to focus more on its core line, consumer products. And in 1999, its hospital products business was sold to Medical Action Industries, Inc. for $8.2 million.[14] These sales allowed Acme to focus exclusively on its first aid products line from then on.[15]

2000s

At the turn of the century, the company rapidly expanded its safety products line with new first aid kits, hearing, eye and head protection, and ergonomic supports and braces.[16] From early on, increased sales of first aid kits, bandages, antiseptics, ointments, eye wash, gloves and barrier masks had a positive impact on the company’s results.[17]

In 2004, Acme introduced the PhysiciansCare branded line of over-the-counter medications including the active ingredients aspirin, acetaminophen and Ibuprofen.[18] The Physicians Care product name would later be adopted for the company’s entire First Aid products line. In 2008, the PhysiciansCare Ready Care Kits and Triage First Aid Stations were introduced and in 2009 Flu Care Kits and a line of safety products with Microban were brought to the market.[19]

Present

Today, Acme United Corporation sells first aid kits, refills, first responder kits and OTC medications under the PhysiciansCare Brand.[20] These products are mainly sold to the school, home, office, hardware and industrial markets. In addition, a number of safety products are distributed under the BodyGear Brand.

In February 2011, Acme United purchased Pac-Kit Safety Equipment, a company that sells a wide variety of first aid kits, industrial stations and refills, and emergency medical travel and recreational kits for the industrial, safety, transportation and marine markets. And in June 2014, Acme acquired First Aid Only, a supplier of first aid kits, refills, and safety products.[21]

An advantage of the three first aid brands is that they're able to cross-sell their products to each other's existing customers. For example, PhysiciansCare shears could be sold to a Pac-Kit customer in the transportation market. In addition, the buying and sourcing capabilities of the three brands combined have led to better products and lower prices with suppliers.

In 2015, PhysiciansCare started shipping products such as eye wash, or to treat burns, to a large industrial wholesaler that will sell these items in vending machines at facilities throughout the U.S.[22]

Competition

The major competitor for PhysiciansCare is Johnson & Johnson.[23]

References

  1. ↑ "Acme United Corp 10-K for 31 December 1998". sec.gov. Retrieved on June 8, 2010
  2. ↑ "Acme United Corp history". enotes.com. Retrieved on June 18, 2010
  3. ↑ "Acme United Corp history". enotes.com. Retrieved on June 18, 2010
  4. ↑ "Acme United Corp 10-K for 12/31/06". secinfo.com. Retrieved on June 20, 2010
  5. ↑ "Acme United Corp 10-K for 31 December 1998". sec.gov. Retrieved on June 8, 2010
  6. ↑ "American Hospital starts manufacturing medical instruments". nytimes.com. October 11, 1983. Retrieved on April 23, 2010
  7. ↑ "Acme United to acquire major portion of SePro's medical products business". highbeam.com. Retrieved on June 9, 2010
  8. ↑ "Acme United Corp 10-K for 31 December 1997". sec.gov. Retrieved on June 13, 2010
  9. ↑ "Acme United Acquires Exclusive Distribution Rights For New Line Of Skin Care And Wound Care Products". encyclopedia.com. Retrieved on June 19, 2010
  10. ↑ "Acme United 1995 Annual Report". edgar-online.com. Retrieved on June 19, 2010
  11. ↑ "Acme United Corp 10-K for 31 December 1997". sec.gov. Retrieved on June 8, 2010
  12. ↑ "Acme United Corp 10-K for 31 December 1996". sec.gov. Retrieved on June 9, 2010
  13. ↑ "Acme United Corp 10-K for 31 December 1996". sec.gov. Retrieved on June 9, 2010
  14. ↑ "Medical Action Acquires Medical Products Division of Acme United Corp". highbeam.gov. Retrieved on June 20, 2010
  15. ↑ "Acme United Corp 10-K for 31 December 1998". sec.gov. Retrieved on June 24, 2010
  16. ↑ "Acme United Corp 10-K for 31 December 2000". sec.gov. Retrieved on June 11, 2010
  17. ↑ "Acme United Corp 10-K for 31 December 2001". sec.gov. Retrieved on June 11, 2010
  18. ↑ "Acme United Corp 10-K for 31 December 2005". sec.gov. Retrieved on June 8, 2010
  19. ↑ "Acme United Corp 10-K for 31 December 2009". edgar-online.com. Retrieved on June 20, 2010
  20. ↑ "Acme United Corp 10-K for 31 December 2009". edgar-online.com. Retrieved on June 20, 2010
  21. ↑ "Rival buys First Aid Only for $13.8M". columbian.com. Retrieved on March 30, 2015
  22. ↑ "Acme United Corporation's Q3 2015 Earnings Call Transcript". seekingalpha.com. Retrieved on December 7, 2015.
  23. ↑ "Acme United Corp 10-K for 31 December 2009". edgar-online.com. Retrieved on June 20, 2010

External links

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