By Sam Boughedda
Investing.com — Shares of home healthcare equipment provider Apria Inc (NASDAQ:APR) rallied more than 25% Monday after global healthcare solutions business Owens&Minor Inc (NYSE:OMI) said it will acquire the company.
Owens&Minor will pay $37.50 in cash per share of Apria, representing a total value of approximately $1.45 billion. The price per share represents a 26% premium over Apria’s closing share price on Friday. In afternoon trading, its stock price is around the $37.44 level.
"The combination of two complementary businesses in Byram Healthcare and Apria will enable us to better serve the entire patient journey - through the hospital and into the home - ultimately furthering our mission of Empowering Our Customers to Advance Healthcare,” said Edward Pesicka, President&CEO of Owens&Minor.
“In addition, this transaction diversifies our total company revenue stream by expanding our presence in the higher-growth home healthcare market.”
Owens&Minor outlined several reasons for the deal, such as strengthening the total company value proposition, diversifying its revenue base, and expanding its Patient Direct platform.
The deal is expected to close during the first half of 2022.