Stock Monitor: Halyard Health Post Earnings Reporting
LONDON, UK / ACCESSWIRE / January 08, 2018 / Active-Investors.com has just released a free research report on Owens & Minor, Inc. (NYSE: OMI) ("OMI"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=OMI as the Company's latest news hit the wire. On January 05, 2018, the Company disclosed plans to reorganize its business once it completes the acquisition of Halyard Health, Inc.'s (NYSE: HYH) Surgical & Infection Prevention (S&IP) business. The decision is part of the Company's plans to integrate Halyard Health's S&IP business with its own business. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Owens & Minor and Halyard Health most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=OMI
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Commenting on the planned reorganization, P. Cody Phipps, Chairman, President, and CEO of Owens & Minor, said:
"Our integration planning process has been moving swiftly and we look forward to closing the transaction, so that we can hit the ground running. We believe that Owens & Minor has a compelling path to growth through the S&IP transaction and the ongoing execution of our strategy. Owens & Minor will benefit from the deep healthcare industry experience and expertise of both Chris and Stuart."
Details of Reorganization
OMI plans to reorganize its entire business into two strategic business units (SBU) - one is Global Solutions and the second is Global Products. The Company plans to bring the majority of the legacy business under the Global Solutions SBU and it will cover distribution, logistics, inventory management, and other value-added solutions. On the other hand, the S&IP business and the Company's Proprietary Products business will be brought under the Global Products SBU.
The Company expects to complete the transaction in Q1 2018.
Changes in Top Management
The Company announced several management changes including:
- Chris Lowery took over as President - Global Products at OMI on January 03, 2018. Chris was the Senior Vice President & COO of Halyard Health, Inc. till December 31, 2017. He had joined Halyard Health in November 2014 when the Company was split from Kimberly-Clark. Prior to joining Halyard Health, he was the Vice President of Sales and Marketing at Kimberly-Clark, Health Care division, and before that he held several senior level positions in marketing and sales with Covidien, a global health care products Company. At Halyard Health he led the Company's worldwide sales and marketing, research and development, quality assurance, regulatory, and clinical affairs functions. In his current position as President - Global Products at OMI, he will be initially help with the integration planning and setting up of the Company's Global Products SBU, including the Proprietary Products business.
- Stuart Morris-Hipkins has been promoted to the position of President - Global Solutions at OMI. He was earlier the Executive Vice President of Owens & Minor's Global Manufacturer Services. He joined OMI in March 2017 and brings with him over 20 years of rich global leadership experience. Prior to joining OMI, Stuart was with Smith and Nephew, PLC as their Senior Vice President and General Manager from 2014 to 2017.
- Nicholas J. Pace has been promoted to the position of Executive Vice President, General Counsel, Corporate Secretary and Communications. He was earlier the Senior Vice President and General Counsel and had joined the Company in 2016.
Details of acquisition of Halyard Health's S&IP Business
OMI had announced the acquisition of Halyard Health's S&IP business in November 2017 for approximately $710 million. The S&IP business provides healthcare supplies and solutions that target the prevention of healthcare-associated infections. The deal includes S&IP's focused portfolio of surgical and infection prevention products and solutions viz., sterilization wraps, surgical drapes and gowns, facial protection, protective apparel, and medical exam gloves. The S&IP brands are also part of the deal which includes surgical drape products like AEROBLUE and AEROCHROME, examination gloves like PURPLE, LAVENDER and STERLING, etc. as well as sterilization wraps like ONE-STEP, QUICK CHECK, and SMART-FOLD. The acquisition allows OMI to enhance its leadership position in the market with its wide range of products and solutions and expand its global footprint in the acute care and non-acute care markets. OMI also gets an experienced global sales force with direct channel access, a world-class manufacturing network and a strong pipeline of new products as part of this acquisition.
About Owens & Minor, Inc.
Richmond, Virginia-based OMI is a global healthcare solutions Company that provides vital supply chain services to healthcare providers and manufacturers of healthcare products. It provides logistics services across the spectrum of medical products from disposable medical supplies to devices and implants. The Company caters to customers across the healthcare market from independent hospitals to large integrated healthcare networks, as well as group purchasing organizations, healthcare products manufacturers, the federal government, and healthcare patients at home through its Byram Healthcare subsidiary.
OMI's annualized revenues exceed $9 billion.
Stock Performance Snapshot
January 05, 2018 - At Friday's closing bell, Owens & Minor's stock rose 3.38%, ending the trading session at $19.87.
Volume traded for the day: 1.03 million shares.
Stock performance in the last month - up 3.71% and year-to-date - up 5.24%
After last Friday's close, Owens & Minor's market cap was at $1.22 billion.
Price to Earnings (P/E) ratio was at 15.71.
The stock has a dividend yield of 5.18%.
The stock is part of the Services sector, categorized under the Medical Equipment Wholesale industry. This sector was up 0.9% at the end of the session.
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