The deal allows to combine Apria’s product portfolio strength in home respiratory, obstructive sleep apnea, and negative pressure wound therapy with Owens & Minor's strength in diabetes, ostomy, incontinence, and wound care
Global healthcare solutions firm Owens & Minor has agreed to acquire US-based integrated home healthcare equipment and related services provider Apria for an equity value of around $1.45bn.
Under the deal, Owens & Minor will acquire Apria common stock by paying $37.50 per share in cash.
Apria provides a range of products and services for in-home care and delivery across three core service lines, including home respiratory therapy that comprises home oxygen and non-invasive ventilation (NIV) services.
The second line is obstructive sleep apnea (OSA) treatment that consists of continuous positive airway pressure (CPAP) and bi-level positive airway pressure devices and patient support services. The final line is negative pressure wound therapy (NPWT).
Apria also offers a range of home medical equipment and other products and services to meet the home care requirements of the patients.
The acquisition of Apria will enable Owens & Minor to expand its patient direct product portfolio by integrating Apria’s product portfolio strength in home respiratory, obstructive sleep apnea, and negative pressure wound therapy with the company’s strength in diabetes, ostomy, incontinence, and wound care.
Owens & Minor president and CEO Edward Pesicka said: “I’m very excited about the acquisition of Apria, which will strengthen our total company value proposition.
“The combination of two complementary businesses in Byram Healthcare and Apria will enable us to better serve the entire patient journey – through the hospital and into the home – ultimately furthering our mission of Empowering Our Customers to Advance Healthcare.”
Subject to customary closing conditions and other regulatory approvals, the deal is expected to be completed during the first half of this year.
Evercore served as the lead financial advisor, while J.P. Morgan Securities acted as financial advisor to Owens & Minor on the deal. Kirkland & Ellis is a legal advisor to Owens & Minor.
Goldman Sachs served as the lead financial advisor, while Citigroup Global Markets acted as financial advisor to Apria in connection with the deal. Simpson Thacher & Bartlett is a legal advisor to Apria.