Tag: realignment
Trinity Biotech zeroes in on CGM
March 13, 2025HME News Staff
DUBLIN – Trinity Biotech, a commercial-stage biotech company focused on human diagnostics and diabetes management solutions, including wearable biosensors, has appointed Barclays Capital as its exclusive financial advisor to support its ongoing strategic realignment, including its increased focus on continuous glucose monitoring technology. As part of this effort, Barclays is now actively assessing how the company’s existing businesses can best align with this new strategic direction....
OM lays off 60-plus employees
March 21, 2023HME News Staff
RICHMOND, Va. – Owens & Minor has laid off 61 employees in Franklin, Mass., according to a WARN notice filed with the state. The company, which announced a realignment on Feb. 28, laid off the employees nine days earlier on Feb. 17, according to the notice. Owens & Minor officials said during a conference call to discuss the company’s fourth quarter and year-end financial results that they had kicked off an ambitious, companywide program to “right size” the...
OM initiates realignment in ‘evolving market’
February 28, 2023HME News Staff
RICHMOND, Va. - Owens & Minor has initiated a companywide “operating model realignment program” to accelerate profit improvement and reduce costs.
The company expects the realignment to improve profitability and cash flow by about $30 million of adjusted operating income in 2023; $200 million of adjusted operating income by 2025; and $250 million to $400 million of working capital benefit by 2025.
“Fourth-quarter results showed that we need to move quickly to offset...