Owens & Minor is a global healthcare logistics company that specializes in the distribution of medical supplies and products to hospitals, healthcare providers, and other organizations within the healthcare industry
The company provides a range of services, including inventory management, supply chain solutions, and the development of customized healthcare products, ensuring that healthcare providers have timely access to the essential medical items needed to deliver quality patient care. By leveraging technology and comprehensive logistics capabilities, Owens & Minor aims to enhance the efficiency of healthcare operations and improve overall patient outcomes.
Let's have a look at what is happening on the US markets in the middle of the day on Monday. Below you can find the top gainers and losers in today's session.
Owens & Minor shares dipped after disclosing preliminary results and financing for the Rotech Healthcare Holdings, Inc. buyout. The company expects to close the deal in the first half of 2025 and sees significant synergy opportunities. Preliminary results for Q4 and 2024 were also provided.
Owens & Minor Q3 2024 highlights include a 5% sales increase to $2.72 billion, adjusted EPS of $0.42, and Patient Direct revenue growth led by diabetes and sleep supplies.
Cardinal Health Inc. is one of the leading wholesale distributors of pharmaceuticals, medical/surgical supplies and related products to a broad range of health care customers.
Owens & Minor reported Q2 2024 adjusted EPS of $0.36, beating consensus. Sales rose to $2.671 billion, driven by growth in diabetes and sleep supplies. The company reaffirms 2024 revenue guidance of $10.5 billion-$10.9 billion and expects adjusted EPS of $1.40-$1.70.
Owens & Minor is set to acquire Rotech Healthcare for $1.36 billion, enhancing its Patient Direct segment and aiming for $5 billion in revenue by 2028. The deal includes anticipated tax benefits and significant synergy opportunities.
