BUZZ-Owens & Minor rises on $1.36 bln deal to buy medical equipment firm Rotech
Reuters · 07/23 18:22
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** Shares of medical supplies distributor Owens & Minor OMI.N rise 7% to $16.39
** Co agrees to buy medical equipment firm Rotech Healthcare for $1.36 billion in cash to expand its presence in home-based care
** In August, people familiar with the matter said Rotech was exploring a possible sale
** The deal will give OMI access to Rotech's portfolio of home medical equipment, including those used for the treatment of sleep apnea and diabetes
** This appears to be a strategic fit for the company, expanding its footprint and complementing the existing Patient Direct business - Brokerage J.P.Morgan
** Including session moves, stock down 15.4% YTD
(Reporting by Sneha S K)
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