Owens & Minor’s legal advisor is Kirkland & Ellis LLP. Morgan Securities LLC acted as financial advisor to Owens & Minor in connection with this acquisition. The transaction is subject to customary closing conditions, including the Hart Scott Rodino Act and other regulatory approvals and the approval of Apria’s stockholders, and is expected to close during the first half of 2022.Įvercore acted as the lead financial advisor and J.P. 7, 2022, and 30-day volume weighted average price, respectively. This price per share represents a 26% and 24% premium over Apria’s closing share price on Jan. Under the terms of the agreement, which was unanimously approved by the board of directors of each company, Owens & Minor will acquire Apria for $37.50 in cash per share of common stock, representing an equity value of approximately $1.45 billion, as well as the assumption of debt and cash for a total transaction value of approximately $1.6 billion. We look forward to joining together and delivering the highest quality health care solutions to our customers.” “Both companies share cultures fueled by a commitment to customers, patients, teammates and the communities we serve. “I am energized and enthusiastic to join Owens & Minor,” said Dan Starck, chief executive officer of Apria. Pesicka added, “We are impressed by what Apria has built for its customers, and I look forward to welcoming Dan Starck and the Apria team to Owens & Minor upon close.” “In addition, this transaction diversifies our total company revenue stream by expanding our presence in the higher-growth home health care market.” Pesicka, president and chief executive officer of Owens & Minor. The combination of two complementary businesses in Byram Healthcare and Apria will enable us to better serve the entire patient journey-through the hospital and into the home-ultimately furthering our mission of ‘Empowering Our Customers to Advance Healthcare,’” said Edward A. “I’m very excited about the acquisition of Apria, which will strengthen our total company value proposition. The employee data is based on information from people who have self-reported their past or current employments at Owens & Minor. announced that the companies have entered into a definitive agreement pursuant to which Owens & Minor will acquire Apria for $37.50 in cash per share of common stock, representing an equity value of approximately $1.45 billion. Zippia gives an in-depth look into the details of Owens & Minor, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Owens & Minor. & INDIANAPOLIS (January 10, 2022)-Owens & Minor, Inc. Descriptions in this news article were not prepared by S&P Global Ratings.RICHMOND, Va. This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Meanwhile, Moody's also upgraded Owens & Minor's ratings and changed the outlook to positive from stable. The stable outlook reflects the expectation for the company to have an adjusted leverage in the 4x-5x range, maintain a conservative financial policy, and continue generating positive free cash flows on a sustained basis, the rating agency said. Ratings expects Owens & Minor to maintain a conservative financial policy by prioritizing debt paydowns over other shareholder-friendly activities, even after 2020. Expected adjusted leverage decreases to the 4x-5x range from above 5x, with consideration of the proposed debt repayment and the company's recent move to raise its earnings per share guidance. Ratings views the company's $173.7 million share offering positively, as a substantial amount of the net proceeds will be used to repay term A loans. The rating agency said Mechanicsville, Va.-based Owens & Minor's credit profile has rapidly improved in the midst of the COVID-19 pandemic, considering its status as one of the few personal protective equipment manufacturers in the Americas. S&P Global Ratings upgraded Owens & Minor Inc.'s issuer credit rating to B+ from B- and set the outlook to stable.
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