Owens & Minor 1Q Revenues Reach $2.4B - Modern Distribution Management

Owens & Minor 1Q Revenues Reach $2.4B

The health care solutions company’s 2022 first-quarter announcement follows its $1.6 billion acquisition of Apria, Inc.
Richmond, Virginia-based global healthcare products distributor Owens & Minor on Oct. 12 announced several executive leadership team changes, as well as preliminary financial figures for 2022's third-quarter.

Owens & Minor, Inc. (NYSE-OMI) reported 2022 first-quarter revenues of $2.4 billion, compared to $2.32 billion during the same period a year ago.

The company saw continued revenue growth in both segments, highlighted by 26% growth in Patient Direct.

The Richmond, Virginia-based company in March completed a $1.6 billion deal to acquire Apria, Inc., an integrated home health care equipment provider.

Operating income for 2022 1Q was $61.1 million, down from $146.7 million in 2021.

“The first quarter of 2022 marked an important milestone — we completed the largest acquisition in the Company’s history,” said Edward A. Pesicka, president and CEO. “With the acquisition of Apria, we have strengthened our position in the higher-growth direct-to-patient home market, enhancing our ability to serve patients through the hospital and into the home. I am excited to welcome the Apria team to Owens & Minor.”

He added, “I am also very pleased to report another strong quarter, as we saw the momentum from the record setting 2021 carry into the start of the year, largely as we had expected. The team has done a great job executing our strategy and managing through a number of macro-economic headwinds, including inflation, over the last several quarters. We will continue to use the Owens & Minor business system and our differentiated model to minimize the impact of these headwinds, deliver another strong year, and remain on-track to achieve our long-term objectives.”

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!