Description
Owens & Minor, Inc. (NYSE: OMI) is a global healthcare logistics company. Owens & Minor employs 15,000 people in 70 countries. A FORTUNE 500 company, Owens & Minor was founded in 1882 in Richmond, Virginia, where it remains headquartered today. The company now has distribution, production, customer service and sales facilities located across the Asia Pacific region, Europe, Latin America, and North America.
President, CEO, Ed Pesicka joined Owens & Minor in March 2019.
History and legacy
Owens & Minor initially opened as a drug company on the streets of downtown Richmond, Virginia in 1882, inside a historic building which still stands today.[8] The company continued this business for over half a century, until in 1954 Gil Minor, Jr., bought out Bodeker Drug Company, a smaller operation in the same industry.
In 1966 Owens, Minor & Bodeker acquired A&J Hospital Supply, a local company. This was the company's initial entrance to the market of medical and surgical distribution. By 1970, OMB had opened Cardinal Drug Centers to provide merchandising for more independent drug companies, and within two years the stores stocked more than 25,000 items. Around this time, disposable items were administered to hospitals for various medical procedures. G. Gilmer Minor III, of direct relation to the founder, became CEO in 1984. By 1988, Owens & Minor began trading on the New York Stock Exchange under the ticker OMI. It was around this time that revenues earned the company a Fortune 500 title.
By 1999, the corporation had refocused its pursuits towards medical supply chain management. Throughout the 2000s, Owens & Minor acquired various medical distributors across the United States, notably the hospital distributor McKesson Medical-Surgical Inc., a business unit of McKesson, for $152.1 million, on September 30, 2006. In 2012, Owens & Minor entered the European market, opening offices in Spain, France, Germany, Poland, and the Czech Republic after the acquisition of Movianto Group. In 2014, the corporation acquired ArcRoyal, a privately held medical kit company based in Dublin, Ireland.
In 2018, Owens & Minor acquired Halyard Health’s Surgical & Infection Prevention business for $710 million, the largest acquisition in Owens & Minor’s history. Halyard is a manufacturer of sterilization wrap, facial protection products, exam gloves, protective apparel, surgical drapes and surgical gowns.
Business transition
In the 4th quarter of 2017, Owens & Minor opened a second office to host the new Customer Engagement Center (CEC) in downtown Richmond, Virginia as part of a business rebranding strategy. Virginia Governor Terry McAuliffe said, "This announcement is an outstanding example of our continuing work building a new Virginia economy." The corporation will also continue to work out of its various offices across the United States.
