Laid Off, Two CT Brothers Purchase Business Using Tax-Free Funding Source

June 22, 2010 - PRLog -- “When we both got laid off from long-standing careers,” explained Todd Schuck, the new president of A&C Medical Supplies and Equipment, Inc. in Southbury, Connecticut (www.acmedical.com), we embarked on individual job searches. After networking, sending out resumes, meeting with recruiters, we discussed combining our skills to go into business together. We examined dozens of franchises and existing businesses for sale.” Through their research, bothers Todd Schuck of Glastonbury and Craig Schuck of Colchester, CT, learned about a unique, tax-free funding source known as Roll Over for Business Startups. This relatively unknown funding mechanism, that is referred to fondly by the IRS as ROBS, uses qualified retirement monies, without taxation, to purchase an existing business.

“Once we learned about ROBS, we worked with Benetrends in Philadelphia, PA, that specializes in setting up qualified retirement monies to acquire small businesses. Benetrends guided us through the maze of paperwork needed to comply with Federal and state regulations to set up our new company," stated Craig Schuck. “By combining portions of our individual qualified retirement monies, we averted borrowing money to purchase A&C Medical in Southbury, Connecticut.”

This spring  the Schuck brothers took over day-to-day operations of A&C Medical Supplies and Equipment, Inc., a home medical equipment and supplies retail store and online sales company that has served the greater Southbury, Connecticut area since 1993. Todd Schuck became president, Craig became vice president and chief financial officer. “Without taxation,"explained Craig Schuck, “we gained access to our retirement funds to purchase this business without going into debt.”

“When we decided to merge our collective 37 years of experience in the healthcare and sales arenas, and began looking at franchises in various industries," continued Schuck, "we saw a strong existence of service businesses in the medical and home care industries, especially elderly home care agencies. While examining the home health care franchise business model, we looked at durable medical equipment providers. We learned that A&C Medical in the affluent town of Southbury was for sale so we jumped on the opportunity. The demographics between Waterbury, Danbury and Southbury offer one of the highest percentages of seniors in Connecticut. In Southbury alone there is the  large senior living community,Heritage Village, plus The Watermark and Pomperaug Woods.”

Todd Schuck explained, “Our goal and mission as individuals and entrepreneurs is to help families and elderly residents obtain the best and most affordable home medical equipment, supplies, services and home modification products and equipment they can. Every product and service we offer allows our customers to rehabilitate and remain living safely and independently in the comfort of their own homes. We want to offer the highest level of comfort, healing, safety and independence we can to these individuals and their families.”

Established in 1993, A&C Medical specializes in home medical equipment and supplies, with a specific emphasis on home safety and fall prevention. “We know most elderly people prefer to ‘age in place’ in their own homes. Our products, rehabilitation equipment and home modification services help people do that for as long as reasonably good health permits,” explained Todd Schuck. “Our products and services meet the changing demands of our aging population at reasonable and affordable costs. Plus we help our customers with their insurance claims for equipment.”

A&C Medical's main retail focus is on selling general home medical equipment and supplies. It also provides home modification and bathroom safety products, plus a full line of mobility enhancing products, including diabetic footwear, walkers, and wheelchairs. It has also long been known as the Southbury area’s leading supplier for Power Mobility Devices such as power wheelchairs and scooters. “Now we also offer a complete line of bathroom safety products, including grab bars, toilet lift seats, support bracing and commodes. Recently, we also became an exclusive retailer of Senior Safe Walk-In Bathtubs."

A&C Medical offers a comprehensive traditional line of home medical equipment and supplies from incontinence to wound care products to orthotics, braces and compression hosiery. It also rents and delivers hospital beds, continuous passive motion machines (CPM), knee walkers, hip and lift chairs.

The Schuck Brothers:
Todd and Craig Schuck both graduated from Conard High School in West Hartford, Connecticut, and Western New England College in Springfield, Massachusetts. Todd earned his Bachelor of Science degrees in marketing in 1988, and Craig received his Bachelor of Science degree in management in 1990. Collaboratively, they bring nearly three decades of experience in the health care and sales professions.

Todd Schuck’s experience in healthcare spans over 20 years in the pharmaceutical sales and business development arenas. He possesses an expertise in managed care payor-related drug and disease cost containment strategies. Throughout his health care/pharmaceutical sales and business development career, Todd Schuck enjoyed measurable success as a territory sales representative, regional sales manager and corporate account manager who was consistently promoted into roles of greater responsibility.

Prior to co-ownership of A&C Medical, Todd Schuck was an associate director, corporate accounts with Watson Pharmaceuticals in Morristown NJ. In that position, he managed contractual relations with targeted Managed Care Plans throughout the U.S. northeast along with PBM’s and specialty pharmacy providers. His responsibilities included direct management of all rebate contracts with the development and implementation of cost containment strategies for oncology-injectable management programs.

As president of A&C Medical, Todd Schuck oversees sales and business development with a strong emphasis on building community relations with health care organizations, facilities, professionals and referral sources throughout Connecticut. He also implements sales and marketing strategies by working with eldercare service providers.

Craig Schuck brings 15 years of experience in healthcare related sales. Prior to purchasing A&C Medical, he was an account manager for OR Live, an Internet-based healthcare company that focused on webcasting live surgical events. In that position, he was a million-dollar-plus producer in sales and account management. For A&C Medical, Craig is responsible for the day to day operations, all aspects of information technology, accounts receivable and payable along with managing vendor relations and showroom inventory.

A&C Medical Equipment and Supplies Inc. is a fully-accredited Home Medical Equipment provider. They are accredited through the private, not-for-profit ACHC-The Accreditation Commission for Health Care, Inc., a corporation that monitors a set of high national standards across the U.S. established by the Center for Medicare Services (CMS) for providers to meet to effectively and efficiently deliver quality health care products and services to consumers. “This accreditation made the acquisition of A&C Medical very appealing” stated Craig Schuck. “It represents our ongoing commitment to adhere to high national standards, to show we are in compliance with all regulatory bodies in the industry, and to provide surety to our customers that we continually strive for excellence.”

A&C Medical is located off of I-84 Exit 15 in Southbury, CT, in the back of the Union Square complex at 358 Main Street South. Their showroom can be reached at 203-262-1671, toll free at 877-262-1671, and by fax to 203-262-1162. Todd Schuck can be contacted at 860-830-6321, and via email to todd@acmedical.com. To learn more, visit www.acmedical.com, or email to customerservice@acmedical.com.