Richmond, Virginia-based global health care solutions company Owens & Minor (NYSE: OMI) has launched a private offering of $500 million aggregate principal amount of senior notes due 2030, subject to customary and market conditions, the company announced.

“Unless the acquisition is consummated concurrently with or promptly following the closing of the Offering, the Company will deposit the gross proceeds from the Offering into a segregated escrow account until the date that certain escrow release conditions, including the consummation of the Acquisition, have been satisfied,” Owens & Minor announced. “The consummation of the Acquisition is subject to customary closing conditions, including the adoption of the Acquisition agreement by the affirmative vote of holders of a majority of the outstanding shares of Apria common stock.”

Upon the closing of the offering — or, if applicable, upon satisfaction of the escrow conditions — Owens & Minor said it intends to use the net proceeds of the offering, together with cash on hand and proceeds from expected borrowings under one or more new term loans, to finance the consummation of the previously announced acquisition of Apria, Inc. and the other transactions contemplated by the acquisition agreement, to repay Apria debt, and to pay related fees and expenses.

Any remaining net proceeds will be used for general corporate purposes, the company said.