Owens & Minor Inc. (NYSE: OMI), Richmond, VA, has agreed to acquire the surgical and infection prevention business of Halyard Health Inc. for $710 million. The acquisition aims to enhance the company's owned-brand product portfolio and expand the company's global network into new markets and channels.
Owens & Minor also reported third quarter sales of $2.3 billion, down 3.4 percent over the same period a year ago. Profit was $10.9 million, down from $29.8 million in the third quarter in 2016.
Domestic segment sales decreased 4.1 percent to $2.2 billion, while international segment sales increased 15.4 percent to $96.7 million.
For the first nine months, sales were $6.9 billion, a decrease of 5.8 percent when compared to the prior year. Profit decreased 39 percent to $49.8 million.