I would go with Runic Armor.
Not only do you get an additional boost to your shield, but from life steal and regeneration.
It is also hard to do the calculations for which would be better for you specifically since his passive scales with bonus health and I am not sure what your runes are since health runes add onto bonus health.
but
You get a 59.28 health shield at level 1 without bonus health except for the Veterans Scars mastery.
You get a 56.16 health shield at level one with Runic Armor and no bonus health.
The difference between those two are 3.12, but lets say you start with
and have no mastery. You have 60 base attack damage at level 1 with no outside modifiers, so you will heal for 4.8 health a hit with the item. With the Runic Armor mastery, you are now healing for 5.18(4) a hit with 
Adding both the Runic values together (56.16+5.18), it would be as if you had a 61.34 health shield, which is better than the shield you get from the Veteran Scars mastery at level 1 with no other bonus health modifiers. Runic Armor also increases the health regeneration you have against jungle creatures with a jungling item on as stated below, which further enhances the power of Runic Armor compared to Veteran Scars.
Runic Armor gives...
- A stronger shield
Gives 8% life steal, and Runic Armor empowers the amount that you heal up from the effects of the item
- The unique passive from
is a heal drain, and Runic Armor empowers it's healing effects on you.
- Going at it with jungle creatures with jungle items gives you additional health regeneration which I am sure you know of. Runic Armor empowers that regeneration as well.
- Health potions I THINK are affected by Runic Armor. I can't remember.