Owens & Minor Inc. (NYSE: OMI), Richmond, VA, has agreed to acquire Byram Healthcare, a wholly owned subsidiary of Mediq B.V., for $380 million in cash. Headquartered in White Plains, NY, Byram is a domestic distributor of medical supplies sold directly to patients and home health agencies. The acquisition is expected to contribute $450 million in incremental annual revenue for Owens & Minor. The company expects that the transaction will have limited impact on 2017 earnings and will be modestly accretive in 2018.
Owens & Minor also reported sales for the first quarter of $2.3 billion, a decrease of 5.1 percent year-over-year. Profit decreased 22.1 percent to $18.7 million.
Domestic segment sales for the first quarter were $2.2 billion, a decrease of 5.5 percent year-over-year, while international segment sales increased 13.7 percent to $95 million.