Owens & Minor, Inc. completes the sale of its Products & Healthcare Services segment and the Owens & Minor brand to Platinum Equity.
The remaining company will be renamed Accendra Health, focusing on the home-based care market.
This strategic transformation marks Owens & Minor's shift towards becoming a pure play leader in the home-based care market.
Strategic Transformation
The completion of the sale enables Owens & Minor to focus on supporting patients with chronic conditions through home-based care.
Financial Impact
The sale to Platinum Equity was for $375 million in cash with additional equity stake and tax attributes preservation.
Corporate Focus
Accendra Health will concentrate on the Apria and Byram brands, ensuring strategic alignment and operational execution for long-term value creation.
- The sale of the Products & Healthcare Services segment allows Owens & Minor to streamline its operations and enhance its position in the home-based care sector.
- With a more focused approach and strengthened financials from the sale, Accendra Health is poised to compete effectively in the evolving healthcare landscape.
The completion of this sale represents a significant milestone in Owens & Minor's journey towards becoming a specialized player in the home-based care market, setting the stage for future growth and value creation.