Deals

Owens & Minor to buy home healthcare provider Apria for $1.45 bln

1 minute read

REUTERS/Henry Romero

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Jan 10 (Reuters) - Medical products supplier Owens & Minor Inc (OMI.N) will acquire Apria Inc (APR.O) 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.

Shares of Apria rose 23% to $36.61 in premarket trading.

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The 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.

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Reporting by Amruta Khandekar; Editing by Krishna Chandra Eluri and Amy Caren Daniel

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