Tag: Owens & Minor
In brief: Stakeholders push back, Owens & Minor upsizes offering, Merits expands
April 4, 2025HME News Staff
WASHINGTON – AAHomecare, the Council for Quality Respiratory Care and VGM are raising concerns with CMS and lawmakers about the access issues and the negative health outcomes that could result from a recent draft proposal for noninvasive positive pressure ventilation.
CMS on March 11 released a proposed decision in response to the request to reconsider NCD 280.1 to establish coverage policies for the use of noninvasive home mechanical ventilators and respiratory assist devices for...
Owens & Minor upsizes offering to $1B
April 3, 2025HME News Staff
RICHMOND, Va. – Owens & Minor has upsized its recently announced private offering to from $600 million to $1 billion aggregate principal amount of senior secured notes. The notes will bear interest at the rate of 10% per year and will mature April 15, 20230. The proceeds will be used to finance its acquisition of Rotech Healthcare, along with cash on hand and expected borrowings under a new senior secured incremental term loan B facility. Proceeds will also be used for other transactions contemplated...
In brief: Aetna pauses CPAP change, FDA warns Dexcom, Owens & Minor launches offering
March 28, 2025HME News Staff
WASHINGTON – Aetna has put a proposed change on hold for review after AAHomecare asked the insurer to reconsider using certain adherence codes that can only be billed by clinicians not DME providers.
The proposed change, announced in January, stated: “Beginning April 1, 2025, we’ll no longer reimburse the CPAP device or the supplies unless adherence to positive airway pressure therapy is documented using adherence codes G8851, G8854 and G8855 on the claim.”
“On...
In brief: Owens & Minor explores P&HS sale, Grassley challenges UHC, CCS details burnout
February 28, 2025HME News Staff
RICHMOND, Va.– Owens & Minor is looking to sell off its Products & Healthcare Services business, while it remains “bullish” on its Patient Direct business.
The company made the announcement today, as part of its fourth quarter and full-year 2024 earnings results.
“Our commitment to directing capital toward the higher growth and higher margin Patient Direct segment has been increasingly evident in recent years and is consistent with our strategy,” said...
Byram Healthcare launches digital health program
February 11, 2025HME News Staff
RICHMOND, Va. – Byram Healthcare, part of the Owens & Minor family, has launched ByramConnect, a personalized digital health program for people with Type 1 and Type 2 diabetes that’s powered by the Welldoc app.
The program, using the Welldoc app’s artificial intelligence capabilities, analyzes member data across six dimensions of health to help optimize outcomes, providing actionable insights and reports that can be shared with providers and care teams.
“Chronic...
In brief: Owens & Minor seeks financing, F&P ‘works through’ tariffs, docs oppose cut
February 5, 2025HME News Staff
RICHMOND, Va. – Owens & Minor is raising additional debt “while capital markets are attractive” to finance its acquisition of Rotech Healthcare, the company announced Feb. 3.
The company still expects to close on the acquisition in the first half of 2025.
“Our healthy free cash flow provides the vehicle for this proposed financing, as well as helping us achieve our deleveraging goals over the next few years,” said Edward Pesicka, president and CEO of...
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,...