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John R. Fischer, Senior Reporter | March 30, 2022
Owens & Minor has acquired Apria for approximately $1.6 billion.
Owens & Minor has officially acquired Apria, a provider of home healthcare equipment delivery and in-home clinical services for approximately $1.6 billion.
Announced back in January, Owens & Minor closed the deal on March 29, and combined Apria with its Byram Healthcare business. The new addition is expected to expand the products it can offer to patients with chronic and non-chronic conditions.
Additionally, April and the Byram Healthcare Business will become the company’s new patient direct segment, which will be geared toward servicing chronic and acute care needs such as diabetes, ostomy, incontinence, wound care, home respiratory, obstructive sleep apnea and negative pressure wound therapy, on a wider geographic scale.
It especially will focus on creating a more efficient, single-source home healthcare delivery and distribution model to support the transition of care from hospital to home and is meant to bolster Owen & Minor's presence in the home healthcare market. "The creation of the new Patient Direct segment will expand our portfolio by creating more efficient treatment of chronic and acute conditions, and for those suffering from multiple conditions. The portfolio combines Byram's strength in diabetes, ostomy, incontinence, and wound care with Apria's strength in home respiratory, obstructive sleep apnea, negative pressure wound therapy and home medical equipment and services," Edward Pesicka, president and chief executive officer of Owens & Minor, told HCB News.
Apria provides home respiratory therapy, sleep apnea, negative pressure wound therapy and continuous glucose monitors for diabetes management.
Owens & Minor acquired Byram Healthcare in 2017 to also better serve patients in their homes. Among its services are ostomy, diabetes, wound, urology, incontinence and home healthcare, in addition to breast pumps and enteral nutrition.
In addition to the patient direct segment, the company will introduce another, Products & Healthcare Services, which will be a combination of its global medical distribution and services businesses. It will also release a historical recast of 2021, by quarter, ahead of reporting first quarter 2022 earnings.
"We are bringing together two leading businesses in the home healthcare industry, and as such we want to do so in a manner that allows us to continue to execute on our patient-centric mission and deliver growth," said Pesicka.
The deal was funded through a combination of debt and cash on hand.
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