Owens & Minor Inc. (NYSE: OMI) has agreed to acquire medical supply distributor Byram Healthcare from Advent International-backed Mediq BV for about $380 million in cash. The buyer says the purchase will expand its services in patient home delivery.
Byram, founded in 1968, and located in White Plains, New York, distributes medical products such as bandages, insulin pumps, and catheters to patients at home and other healthcare agenices. Mediq, a pharmaceutical and medical supplier, purchased Byram in 2008. Advent invested in Mediq in 2013. Owens & Minor is a Richmond, Virgina-based healthcare logistics provider.
“Expanding across the continuum of care is a strategic imperative for us,” says Owens & Minor CEO Cody Phipps. "We can quickly advance our strategic agenda with providers and manufacturers by expanding our reach beyond the hospital setting all the way to the patient’s home." Owens expects the acquisition to add about $450 million in annual revenue.
In other related medical supply deals, in 2016, Court Square Capital Partners acquired dental products distributor NDC from Silver Oak Services Partners, and C.R. Bard Inc. (NYSE: BCR) bought catheter supplier Liberator Medical Holdings Inc.