Medical products supplier Owens & Minor Inc will acquire Apria Inc for about $1.45 billion in cash to bolster its presence in the fast growing home healthcare services market.
for about $1.45 billion in cash to bolster its presence in the fast growing home healthcare services market.
Owens & Minor will pay $37.50 per share for Apria, representing a premium of 26.2% to Apria's closing price on Friday, the companies said in a statement on Monday.Register now for FREE unlimited access to Reuters.comThe deal comes at a time when lockdowns and other curbs are being implemented to stem the two-year long COVID-19 pandemic, which has triggered strong demand for home healthcare over clinic-based services.
Richmond, Virginia-based Owens & Minor has its own portfolio of products, including for diabetes, wound care and personal protective equipment. The buyout of Apria would add products such as a home respiratory therapy and sleep apnea devices to Owens & Minor's portfolio. Evercore and J.P. Morgan Securities LLC served as financial advisers to Owens & Minor on the deal, which is expected to close during the first half of 2022.Reporting by Amruta Khandekar; Editing by Krishna Chandra Eluri and Amy Caren DanielSubscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
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