Divestiture Agreement with Platinum Equity
Owens & Minor announced a definitive agreement to sell the Products & Healthcare Services segment to Platinum Equity, retaining equity interest due to Platinum's operational expertise.
Focus on Home-Based Care
The company will rebrand and focus exclusively on the Patient Direct business, which is expected to generate improved and consistent cash flow.
Growth in Key Categories
Year-over-year growth in sleep therapy, ostomy, and urology segments. Revenue for the third quarter was $697 million, up from $687 million the previous year.
Improved Free Cash Flow
Continuing operations generated $28 million of free cash flow in the third quarter and $78 million for the first nine months.