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Owens & Minor ‘captures increased CPAP opportunities’

Owens & Minor ‘captures increased CPAP opportunities’

RICHMOND, Va. – Owens & Minor reported revenue of $594 million for its Patient Direct segment, a 142% increase. 

 “I am very pleased with the performance and operational execution throughout all aspects of the Patient Direct Segment, including the capture of increased CPAP opportunities, and overachievement of acquisition synergies,” said Edward Pesicka, president and CEO. “This exceptional performance was supported by deep adoption of the Owens & Minor Business System and led to nearly 100 basis point margin expansion sequentially and year-over-year revenue growth of 11.4% on a pro forma basis for the Apria acquisition.” 

OM reported consolidated revenue of $2.5 billion and adjusted EBITDA of $127 million, an increase of $35 million. 

The company also saw continued pressure on its Products & Healthcare Services segment, said Pesicka. 

“In the third quarter we saw greater than expected macro-economic and industry-related forces that continue to challenge our Products & Healthcare Services segment and as the quarter progressed, we saw more of our acute care customers delay reorders utilizing their stockpiled items,” he said. “To better address these challenges and capitalize on opportunities, we are accelerating execution of key initiatives to improve the segment’s performance.”


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