Owens & Minor Inc (NYSE: OMI) has agreed to acquire Apria Inc (NASDAQ: APR) for $37.50 in cash per share of common stock, representing an equity value of approximately $1.45 billion.
- Apria is a provider of integrated home healthcare equipment and related services in the US.
- The deal strengthens the total value proposition and positions Owens & Minor as a leader in the home healthcare market.
- The transaction builds upon Owens & Minor’s strong product manufacturing and healthcare services capabilities.
- The transaction is accretive to revenue, adjusted EBITDA, adjusted EPS, and enhances OMI’s free cash flow generation.
- Broadens OMI’s Patient Direct product portfolio by combining OMI’s diabetes, ostomy, incontinence, and wound care with Apria’s product portfolio strength in-home respiratory, obstructive sleep apnea, and negative pressure wound therapy.
- Creates a platform for future growth within highly fragmented and growing space, with an approximate $50 billion total addressable market.
- The price per share represents a 26% and 24% premium over Apria’s closing share price on January 7, 2022, and a 30-day volume-weighted average price, respectively.
- The transaction is expected to close during 1H of 2022.
- Price Action: APR shares are up 24.2% at $36.90 during the premarket session on the last check Monday. OMI stock closed at $45.08 on Friday.
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