Tag: Owens & Minor
Owens & Minor sees ‘solid top-line results’
November 4, 2024HME News Staff
RICHMOND, Va.– Owens & Minor reported consolidated revenue of $2.7 billion in the third quarter of 2024, an increase of 5% year over year.
Of that, the company’s Patient Direct business had revenue of $687 million, up 6%, driven by strength in several categories, led by diabetes and sleep supplies. Adjusted EBITDA was $142 million, up 5%; and total debt reduction was $198 million.
“Our third quarter results demonstrated our ability to deliver on our commitments...
In brief: Owens & Minor’s FTC request, CVS Health’s exit, Medically Home’s leadership
October 16, 2024HME News Staff
RICHMOND, Va. – Owens & Minor and Rotech Healthcare on Oct. 11 each received a request for additional information and documentary materials from the Federal Trade Commission in connection with its review of the merger of the two companies.
The effect of a second request is to extend the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, until 30 days after each of the companies has substantially complied with the second request issued to...
Owens & Minor, Rotech receive second request from FTC
October 15, 2024HME News Staff
RICHMOND, Va. – Owens & Minor and Rotech Healthcare on Oct. 11 each received a request for additional information and documentary materials from the Federal Trade Commission in connection with its review of the merger of the two companies.
The effect of a second request is to extend the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, until 30 days after each of the companies has substantially complied with the second request issued to...
Owens & Minor names EVP, CFO
September 23, 2024HME News Staff
RICHMOND, Va. – Owens & Minor has named Jonathan Leon, who has served as interim CFO and corporate treasurer since June 2024, as its executive vice president and CFO. Previously, he served as senior vice president and corporate treasurer, leading the company’s financial operations, since 2017. “After a comprehensive process, the board and I unanimously agreed that Jon is the ideal candidate to serve as Owens & Minor’s next chief financial officer,” said Edward Pesicka,...
Analysts reflect on OMI deal, market conditions
September 13, 2024Theresa Flaherty, Managing Editor
Owens & Minor’s acquisition: Owens & Minor (OMI) acquired Rotech Healthcare for $1.36 billion, aiming to secure large payer contracts for value-based care and a capitated risk model.
Market impact: The acquisition, along with favorable conditions like improving interest rates and demand, could stimulate further M&A activity in the HME industry.
Quipt Home Medical’s strategy: Following the OMI-Rotech deal, Quipt Home Medical is focusing on acquiring companies...
Owens & Minor partners with Google Cloud on inventory management system
September 11, 2024HME News Staff
RICHMOND, Va. – A new partnership combines Owens & Minor’s expertise in optimizing the health care supply chain with Google Cloud’s Vertex AI platform to help drive meaningful enhancements for QSight, Owens & Minor’s cloud-based clinical inventory management system. By partnering with Google Cloud, Owens & Minor will strengthen QSight’s existing inventory management capabilities while laying the foundation for future platform and service innovations with the potential...
Owens & Minor: ‘We’re only getting started’
August 6, 2024Theresa Flaherty, Managing Editor
RICHMOND, Va. – Owens & Minor’s Patient Direct segment is experiencing “considerable tailwinds” driven by the large numbers of U.S. adults suffering from chronic health conditions, company execs say.
In particular, the company continues to see growth in diabetes and sleep therapy, despite the “groundswell of support” for GLP-1 weight loss drugs, CEO Edward Pesicka told investors on a recent call to discuss the company’s second quarter 2024 earnings.
“We’re...
In brief: Owens & Minor earnings, DMEscripts integration, F&P launch
August 2, 2024HME News Staff
RICHMOND, Va. – Owens & Minor reported consolidated revenue of $2.7 billion for the second quarter of 2024, an increase of 4% year over year.
Of that, Patient Direct revenue was $660 million, an increase of 4%, driven by continued strong growth in diabetes and sleep supplies.
“Our Patient Direct segment performed in line with our expectations, and we expect the segment to benefit from seasonality and recent organic investments during the back half of the year,”...
Owens & Minor ‘in line with expectations’
August 2, 2024HME News Staff
RICHMOND, Va. – Owens & Minor reported consolidated revenue of $2.7 billion for the second quarter of 2024, an increase of 4% year over year.
Of that, Patient Direct revenue was $660 million, an increase of 4%, driven by continued strong growth in diabetes and sleep supplies.
“Our Patient Direct segment performed in line with our expectations, and we expect the segment to benefit from seasonality and recent organic investments during the back half of the year,”...
Owens & Minor to buy Rotech
July 23, 2024HME News Staff
RICHMOND, Va. - Owens & Minor has entered into a definitive agreement to buy Rotech Healthcare for $1.36 billion in cash.
Given the anticipated tax benefits from the transaction of about $40 million, the net purchase price is about $1.32 billion, representing 6.3x multiple of LTM EBITDA, excluding synergies.
"Rotech squarely fits into our existing Patient Direct segment and directly aligns with the strategy we outlined last December during our Investor Day, supporting our expansion...