Owens & Minor Announces Updates on Pending Acquisition of Halyard Health’s S&IP Business
January 05 2018 - 7:30AM
Business Wire
Former Halyard COO Chris Lowery joins Owens
& Minor as President, Global Products;
O&M also promotes executives Stuart
Morris-Hipkins & Nicholas J. Pace to strategic leadership
positions
Owens & Minor (NYSE: OMI) today announced organizational
updates relating to its pending acquisition of Halyard Health,
Inc.’s Surgical & Infection Prevention (S&IP) business,
which was announced on November 1, 2017. As part of the integration
plan for the S&IP business, Owens & Minor anticipates it
will organize into two strategic business units (SBUs): Global
Solutions and Global Products. The Global Solutions SBU will
contain the majority of Owens & Minor’s legacy business and
will focus on distribution, logistics, inventory management, and
other value-added solutions. The Global Products SBU will contain
the S&IP business along with Owens & Minor’s Proprietary
Products business segment. Subsequent to announcing the
acquisition, Owens & Minor received notice of early termination
of the Hart-Scott-Rodino waiting period on November 29, 2017, and
expects the transaction to close in the first quarter of 2018.
Chris Lowery, who served as Senior Vice President & Chief
Operating Officer of Halyard Health, Inc. from its spin-off from
Kimberly-Clark in November 2014, until December 31, 2017, joined
Owens & Minor effective January 3, 2018, as its President,
Global Products. During his tenure at Halyard, Lowery was
responsible for leading worldwide sales and marketing, research and
development, quality assurance, regulatory, and clinical affairs.
In anticipation of closing the S&IP transaction, Lowery will
initially assist Owens & Minor with integration planning,
including establishing the Global Products SBU, which will include
the Proprietary Products business. Prior to serving as Halyard
Health’s COO, Lowery served as Vice President of Sales and
Marketing at Kimberly-Clark Health Care, and before that held
several senior marketing and sales roles at Covidien, a global
health care products company.
The company also announced that Stuart Morris-Hipkins, who has
served as Executive Vice President of Owens & Minor’s Global
Manufacturer Services since joining the company in March 2017, has
been promoted to President, Global Solutions for Owens & Minor.
A senior executive with more than 20 years of global leadership
experience, Stuart previously worked for Smith and Nephew, PLC,
where he served from 2014 to 2017 as Senior Vice President and
General Manager.
“Our integration planning process has been moving swiftly and we
look forward to closing the transaction, so that we can hit the
ground running,” said P. Cody Phipps, Chairman, President &
Chief Executive Officer of Owens & Minor. “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.”
In other actions, the company also announced that Nicholas J.
Pace has been promoted to Executive Vice President, General
Counsel, Corporate Secretary and Communications. Pace, who joined
Owens & Minor in 2016, previously served as Senior Vice
President & General Counsel at Owens & Minor.
About Owens & Minor, Inc.Owens & Minor, Inc.
(NYSE: OMI) is a global healthcare solutions company dedicated to
Connecting the World of Medical Products to the Point of CareSM by
providing vital supply chain services to healthcare providers and
manufacturers of healthcare products. Owens & Minor provides
logistics services across the spectrum of medical products from
disposable medical supplies to devices and implants. With logistics
platforms strategically located in the United States and Europe,
Owens & Minor serves markets where three quarters of global
healthcare spending occurs. Owens & Minor’s customers span 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. A FORTUNE 500 company, Owens & Minor is
headquartered in Richmond, Virginia, and has annualized revenues
exceeding $9 billion. For more information about Owens & Minor,
visit owens-minor.com, follow @Owens_Minor on Twitter, and connect
on LinkedIn at www.linkedin.com/company/owens-&-minor.
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version on businesswire.com: http://www.businesswire.com/news/home/20180105005101/en/
Owens & Minor, Inc.Truitt Allcott, 804-723-7555Director,
Investor & Media Relationstruitt.allcott@owens-minor.comorChuck
Graves, 804-723-7556Director, Finance & Investor
Relationschuck.graves@owens-minor.com
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