Owens & Minor’s Patient Direct posts 8% increase
By HME News Staff
Updated 8:53 AM CST, Tue February 20, 2024
RICHMOND, Va. – Owens & Minor reported fourth quarter revenue of $664 million for its Patient Direct segment, up 8% compared to the fourth quarter of 2022.
Consolidated revenue was $2.7 billion, an increase of 4%, year-over-year.
“We once again delivered on our commitments and had a strong finish to 2023, demonstrated by our top-line growth across both business segments, robust profit growth and exceptional operating cash flow which allowed us to further strengthen our balance sheet,” said Edward A. Pesicka, president & CEO. “Our Patient Direct segment continued to outperform the market, showcasing the ongoing effectiveness of our go-to-market strategies on top of the healthy demand for home-based care."
The company issued its outlook for 2024, including:
- Revenue for 2024 to be in a range of $10.5 billion to $10.9 billion
- Adjusted EBITDA for 2024 to be in a range of $550 million to $590 million.
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