Welcome to our dedicated page for Owens & Minor news (Ticker: OMI), a resource for investors and traders seeking the latest updates and insights on Owens & Minor stock.
Owens & Minor, Inc. (NYSE: OMI) generates a steady flow of corporate, financial, and strategic news as it transitions into Accendra Health, Inc. and refocuses on home-based care. Company press releases and SEC filings describe a multi-step transformation that includes the sale of its Products & Healthcare Services (P&HS) segment, a shift toward a pure play home-based care platform centered on the Patient Direct business, and a corporate name and ticker change to Accendra Health, Inc. and ACH on the New York Stock Exchange.
News related to OMI has recently covered transaction announcements, such as the definitive agreement and subsequent completion of the sale of the P&HS segment to an affiliate of Platinum Equity, along with details of the retained equity stake and associated tax attributes. Earnings releases provide quarterly and year-to-date financial results for continuing operations, which primarily represent the Patient Direct segment and certain functional operations, and discuss management’s views on the company’s financial outlook and strategic priorities.
Investors and observers will also find corporate governance and leadership updates in the news flow, including executive appointments, role changes, and amendments to executive compensation and retirement plans that are connected to the company’s evolving structure. Additional items include announcements of participation in investor conferences, where management presents the company’s strategy and financial profile, and commercial agreements such as the national preferred DME network arrangement involving Apria and Byram with Optum Health.
This news page for OMI serves as a historical archive of Owens & Minor’s communications as it moves toward operating as Accendra Health, Inc. under the ACH ticker. Readers can use it to trace the company’s shift from a combination of hospital-focused distribution and home-based care toward a focused Patient Direct platform, as well as to follow key regulatory filings, transaction milestones, and strategic announcements.
Owens & Minor, Inc. (NYSE: OMI) will participate in the BofA Securities 2020 Leveraged Finance Conference on December 1, 2020. Andy Long, Executive Vice President and CFO, will present at 7:30 AM ET. The presentation can be accessed live via webcast on the company's website. This event aligns with Owens & Minor's commitment to delivering healthcare solutions globally, supported by over 15,000 employees in 70 countries. The webcast will also be archived for 30 days, ensuring ongoing accessibility for interested investors.
Owens & Minor (NYSE: OMI) is ramping up the production of medical-grade facial protection products in response to the ongoing COVID-19 pandemic and approaching flu season. The company reported a greater than 1000% increase in N95 respirator production and nearly 100% increase in surgical and procedure masks through capital investments and operational efficiencies. They have established an end-to-end supply chain for manufacturing these products in the Americas, setting themselves apart from other suppliers reliant on Asia.
Owens & Minor (NYSE: OMI) will participate in the 29th Annual Credit Suisse Healthcare Conference on November 12, 2020. The event will feature a fireside chat led by President and CEO Ed Pesicka, starting at 10:15 AM ET. This discussion, aimed at analysts and investors, will be available for live streaming on the company’s website. The archived webcast will be accessible for 30 days post-event. Founded in 1882, Owens & Minor is a global healthcare solutions provider, serving customers in 70 countries.
Owens & Minor reported strong third-quarter results for 2020, with revenue reaching $2,188 million, down from $2,293 million in Q3 2019. The company achieved an adjusted net income of $49 million, reflecting a 250% increase in adjusted net income per share to $0.81. Operating cash flow was $118 million, and total debt was reduced by $70 million in the quarter. Looking ahead, Owens & Minor expects adjusted net income per share for 2020 to be between $1.90 and $2.00, indicating a focus on growth with a positive outlook for double-digit earnings growth in 2021.
Owens & Minor (NYSE: OMI) will announce its third quarter financial results on November 2, 2020, post-market. A conference call to discuss the results is scheduled for the same day at 5:00 p.m. ET, accessible via phone or a webcast through their Investor Relations section. With over 15,000 employees, Owens & Minor operates globally and focuses on healthcare solutions that enhance supply chain efficiency and financial performance for providers and manufacturers.
Owens & Minor, Inc. (NYSE: OMI) priced its public offering of 8,475,000 shares at $20.50 each, aiming for approximately $173.7 million in gross proceeds. The underwriters have the option to purchase an additional 1,271,250 shares. The company plans to utilize the majority of the net proceeds to repay debt, with remaining funds allocated for general corporate purposes. The closing date is expected on October 6, 2020, pending customary conditions. The offering falls under a shelf registration statement filed with the SEC.
Owens & Minor (NYSE: OMI) has initiated an underwritten public offering of $150 million in common stock, with an option for underwriters to purchase an additional $22.5 million. The proceeds are expected to primarily repay debt, with any remaining funds allocated for general corporate purposes. The offering is subject to market conditions and is made under a shelf registration statement effective since May 20, 2020. Citigroup, BofA Securities, and J.P. Morgan are acting as joint book-running managers.