US healthcare logistics company Owens & Minor to buy Byram Healthcare
03 May 2017
US healthcare logistics company Owens & Minor today announced that it will acquire Byram Healthcare (Byram), a wholly-owned subsidiary of Mediq B.V., for approximately $380 million in cash.
New York-based Byram is a domestic distributor of medical supplies sold directly to patients and home health agencies.
Byram is in leading positions in product lines like ostomy, wound care, urology, diabetes, and incontinence supplies.
Byram has built a portfolio of over 600 payor contracts covering more than 200 million people, along with a revenue cycle management infrastructure to support claims filing and collection processes.
Owens & Minor said that the acquisition is expected to contribute approximately $450 million in incremental annual revenue and expects that the transaction will have limited impact on 2017 earnings.
''Expanding across the continuum of care is a strategic imperative for us,'' said Cody Phipps, president and CEO of Owens & Minor.
''Byram's expertise in managing third party reimbursement and working with insurers and federal health care programs brings an important new capability to Owens & Minor,'' he added.
A Fortune 500 company and with annual sales of $9 billion, Owens & Minor is a global healthcare services company providing vital supply chain services to healthcare providers and manufacturers of healthcare products.
The Richmond, Virginia-based company provides logistics services across the spectrum of medical products from disposable medical supplies to devices and implants.
It has its logistics platforms strategically located in the US and Europe and serves markets where three quarters of global healthcare spending occurs.
Its customers span the healthcare market from independent hospitals to large integrated healthcare networks, as well as group purchasing organisations, healthcare products manufacturers, and the federal government.
