Owens & Minor seeks financing, releases prelim results 

RICHMOND, Va. – Owens & Minor is raising additional debt “while capital markets are attractive” to finance its acquisition of Rotech Healthcare, the company announced Feb. 3. 

The company still expects to close on the acquisition in the first half of 2025. 

“Our healthy free cash flow provides the vehicle for this proposed financing, as well as helping us achieve our deleveraging goals over the next few years,” said Edward Pesicka, president and CEO of Owens & Minor. “Having this additional facility at attractive interest rates gives us the ability to remain nimble in a dynamic market.” 

Owens & Minor also announced that it expects the following financial results for the fourth quarter 2024: 

• Revenue of $2.67 billion to $2.7 billion 
• Net loss of $311 million to $288 million 
• Adjusted EBITDA of $135 million to $140 million 
• Net loss per share $(4.03) to $(3.73) 
• Adjusted EPS of $0.52 to $0.55 
• Gross capital expenditures of $71 million to $76 million 
• Capital expenditures, net of patient service 

It expects the following results for full year 2024: 

• Revenue of $10.67 billion to $10.70 billion 
• Net loss of $(378) million to $(355) million 
• Adjusted EBITDA of $520 million to $525 million 
• Net loss per share $(4.92) to $(4.63) 
• Adjusted EPS of $1.50 to $1.53 
• Gross capital expenditures of $228 million to $233 million 
• Capital expenditures, net of PSE regular sales proceeds, of $158 million to $163 million 
• Total debt of $1.854 billion to $1.859 billion 
• Net debt of $1.805 billion to $1.810 billion 
• Cash provided by operating activities of $160 million to $165 million 

“We are particularly excited about the full-year performance of our Patient Direct segment which posted solid mid-single digit growth, and even higher in key categories,” Pesick said. “In addition, we are pleased that in a year of meaningful reinvestment in the business we were able to reduce total debt by over $240 million.”