Owens & Minor buys disposable med products maker

|About: Owens & Minor Inc. (OMI)|By:, SA News Editor

Healthcare logistics firm Owens & Minor (OMI) will acquire custom procedure tray producer Medical Action Industries (MDCI) for $13.80/share in cash. The total value of the transaction is $208M including the assumption of debt. The deal is expected to close in Q4.

The two companies are closely related considering 45% of MDCI's ~$288M in sales are to OMI. The move advances OMI's strategy of connecting medical products to the point of care.

Shares are up 94% premarket on robust volume.