Richmond, Virginia-based Owens & Minor Inc. has closed its previously announced $1.6 billion acquisition of Apria, Inc., an integrated home health care equipment provider.
The purchase was funded with a combination of debt and cash on hand, Owens & Minor said.
The transaction is expected to combine the strength of Owens & Minor’s existing Byram Healthcare business with Apria to create “an enhanced experience for the patient, provider and payor,” Owens & Minor said.
The joint entity is expected to create a broad portfolio of products for patients with chronic and non-chronic conditions, as well as an expanded product delivery and distribution model.
“We are excited to finalize the acquisition and for Apria to become part of Owens & Minor,” said Edward A. Pesicka, president and CEO of Owens & Minor. “Apria is a perfect complement to our Byram business. This portfolio expansion strengthens Owens & Minor’s position in the fast-growing home health industry and enhances our ability to support healthcare beyond the hospital for both new and existing patients.”