Owens & Minor sells business and focuses on home-based care

US healthcare company Owens & Minor, Inc. has completed the sale of its Products & Healthcare Services (P&HS) segment, including the Owens & Minor brand, to Platinum Equity for $375 million (€320 million).

The remaining publicly traded company is now renamed Accendra Health, signalling a full shift to home-based care.

Edward A. Pesicka, President and CEO, said: “Today’s announcement marks an inflection point in the strategic transformation of Owens & Minor into Accendra Health, a leading nationwide pure play home based care platform. The completion of the sale of the P&HS segment enables the Company to become a more focused and resilient organization that is well equipped to deliver on our commitment to supporting patients with chronic conditions by providing what they need for home-based care. We’re energized by what lies ahead and are confident that our comprehensive product portfolio, expansive payor contracts, and national footprint position us advantageously for the future evolution of home-based care.”

Pesicka added: “With Accendra’s full attention dedicated to our Apria and Byram brands, our capital deployment, corporate strategy, and operational execution are focused and aligned to support durable growth and create long-term value.”

The sale retains a 5% equity stake for Owens & Minor and preserves tax attributes exceeding $150 million (€128 million). The divestment finalises the company’s move from a broad medical products and healthcare services provider to a specialised home-based care operator.

Accendra Health will now concentrate on chronic care solutions through its nationwide network, responding to growing demand for patient-centric, facility-free healthcare.

See the full story on Owens & Minor’s strategic transformation and its implications for home-based healthcare.

Photo credits to Owens & Minor’s official website