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Healthcare logistics company Owens & Minor Inc. (NYSE: OMI), Richmond, CA, has agreed to acquire acquire all outstanding shares of Medical Action Industries Inc. for $208 million, including assumed debt.
Medical Action reported $287.8 million in sales from continuing operations for the fiscal year ended March 31, 2014, of which about 45 percent represented sales to Owens & Minor.
"The acquisition of Medical Action is consistent with our strategic focus and a natural extension of Owens & Minor's core capabilities as we look to broaden our service offering," said Craig Smith, CEO of Owens & Minor. "It meets the needs of both our provider and manufacturer customers by providing them a more complete and cost-effective solution for the delivery of procedure-specific product kits."