Owens & Minor, Inc. has finished a major corporate transaction. The company completed the sale of its Products & Healthcare Services business. Platinum Equity is the buyer in a $375 million all-cash transaction. This move marks a new era for the healthcare supply chain leader. Owens & Minor will now focus more on its Patient Direct segment.
The transaction supports a more focused operating model. It also provides a stronger financial foundation for future growth. Platinum Equity is a global investment firm with vast experience. Transition services will remain in place to support customers.
“Today marks a pivotal milestone for Owens & Minor as we sharpen our focus on our high-growth, high-margin Patient Direct business,” said Edward A. Pesicka, President and CEO of Owens & Minor. “We believe this transaction creates a stronger, more focused company and provides the Products & Healthcare Services business with a partner in Platinum Equity that is well-positioned to support its future success.”
The transaction helps the firm streamline its operational structure. They aim to deliver better value to their healthcare partners. The healthcare services business remains a critical part of medical care delivery. It provides essential supplies to hospitals and clinics across the globe.
Strengthening the Global Healthcare Supply Chain
This divestiture aligns with the long-term strategy of the company. They want to lead in the home healthcare market. The Patient Direct segment continues to see strong demand from consumers.
The company remains committed to its mission of empowering healthcare. They provide vital services that support patient care every day. This sale is a strategic step toward a more profitable future. Investors are watching the firm’s progress on the New York Stock Exchange.
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News Source: Businesswire.com
