Healthcare products distributor Owens & Minor named a longtime medical supply executive as its new top leader, succeeding interim leader Christian Cook as the company continues operating as a standalone business under Platinum Equity ownership.
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The carve-out helps position Owens & Minor as a pure-play, home-based care solutions distributor and service provider.
Despite strong numbers from the company's Patient Direct segment, overall sales increased just 2.5%.
The company reported 1Q 2023 revenue of approximately $2.52 billion, a slight increase compared with $2.4 billion reported in 1Q 2022.
For the nine-month period ending in September, total revenue was $7.4 billion, up sightly versus the same period last year.
Changes include the appointment of Andrew G. Long as EVP, CEO, products & healthcare services segment, replacing Jeffrey T. Jochims.
Major distributors and manufacturers continue to raise their full-year outlook after better-than-expected 2Q results and persistent demand.
Carissa Rollins, chief information officer at Illumina, Inc., has been elected to the company's board of directors.
At 350,000 square feet, the center will include clinical supply capabilities for surgical kitting, procedure tray assembly and sterilization.
Tammy Gomez will assume leadership of Owens & Minor’s teammate strategy in addition to overseeing global human resources operations.
The health care solutions company’s 2022 first-quarter announcement follows its $1.6 billion acquisition of Apria, Inc.
M&A activity in the distribution and manufacturing sectors has somewhat slowed since spiking in the fourth quarter of 2021. But while the deals may be fewer in number, multiple companies still reached billion-dollar agreements as 2022’s initial quarter wrapped up.
The health care solutions company finalized its previously announced acquisition of the integrated home health care equipment provider.
The company increased the pricing of its private offering from $500 million to $600 million aggregate principal amount of its 6.625% senior notes due 2030.
The global healthcare solutions company launched a private offering of $500 million aggregate principal amount of senior notes due 2030.
The global healthcare solutions company says Kenny Gardner, chief people officer at DaVita, Inc., will join its board of directors.
The company reported 2021 fourth-quarter revenue of nearly $2.5 billion and total-year revenue of more than $9.7 billion.
Owens & Minor agreed to acquire Apria for an equity value of about $1.45 billion, just one week after Motion Industries completed its $1.3-billion purchase of Kaman Distribution Group.
The global health care solutions company says it will acquire Apria for $37.50 in cash per share of common stock.
In the second quarter, Owens & Minor posted net income $65.9 million compared to a net loss of $55 million last year.
