Owens & Minor 1Q Revenues Reach $2.4B - Modern Distribution Management

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Owens & Minor 1Q Revenues Reach $2.4B

The health care solutions company’s 2022 first-quarter announcement follows its $1.6 billion acquisition of Apria, Inc.
Richmond, Virginia-based global healthcare products distributor Owens & Minor on Oct. 12 announced several executive leadership team changes, as well as preliminary financial figures for 2022's third-quarter.

Owens & Minor, Inc. (NYSE-OMI) reported 2022 first-quarter revenues of $2.4 billion, compared to $2.32 billion during the same period a year ago.

The company saw continued revenue growth in both segments, highlighted by 26% growth in Patient Direct.

The Richmond, Virginia-based company in March completed a $1.6 billion deal to acquire Apria, Inc., an integrated home health care equipment provider.

Operating income for 2022 1Q was $61.1 million, down from $146.7 million in 2021.

“The first quarter of 2022 marked an important milestone — we completed the largest acquisition in the Company’s history,” said Edward A. Pesicka, president and CEO. “With the acquisition of Apria, we have strengthened our position in the higher-growth direct-to-patient home market, enhancing our ability to serve patients through the hospital and into the home. I am excited to welcome the Apria team to Owens & Minor.”

He added, “I am also very pleased to report another strong quarter, as we saw the momentum from the record setting 2021 carry into the start of the year, largely as we had expected. The team has done a great job executing our strategy and managing through a number of macro-economic headwinds, including inflation, over the last several quarters. We will continue to use the Owens & Minor business system and our differentiated model to minimize the impact of these headwinds, deliver another strong year, and remain on-track to achieve our long-term objectives.”

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