Former Halyard COO Chris Lowery joins Owens & Minor as President,
O&M also promotes executives Stuart Morris-Hipkins & Nicholas J. Pace
to strategic leadership positions
RICHMOND, Va.--(BUSINESS WIRE)--
Owens & Minor (NYSE: OMI) today announced organizational updates
relating to its pending acquisition of Halyard Health, Inc.'s Surgical &
Infection Prevention (S&IP) business, which was announced on November 1,
2017. As part of the integration plan for the S&IP business, Owens &
Minor anticipates it will organize into two strategic business units
(SBUs): Global Solutions and Global Products. The Global Solutions SBU
will contain the majority of Owens & Minor's legacy business and will
focus on distribution, logistics, inventory management, and other
value-added solutions. The Global Products SBU will contain the S&IP
business along with Owens & Minor's Proprietary Products business
segment. Subsequent to announcing the acquisition, Owens & Minor
received notice of early termination of the Hart-Scott-Rodino waiting
period on November 29, 2017, and expects the transaction to close in the
first quarter of 2018.
Chris Lowery, who served as Senior Vice President & Chief Operating
Officer of Halyard Health, Inc. from its spin-off from Kimberly-Clark in
November 2014, until December 31, 2017, joined Owens & Minor effective
January 3, 2018, as its President, Global Products. During his tenure at
Halyard, Lowery was responsible for leading worldwide sales and
marketing, research and development, quality assurance, regulatory, and
clinical affairs. In anticipation of closing the S&IP transaction,
Lowery will initially assist Owens & Minor with integration planning,
including establishing the Global Products SBU, which will include the
Proprietary Products business. Prior to serving as Halyard Health's COO,
Lowery served as Vice President of Sales and Marketing at Kimberly-Clark
Health Care, and before that held several senior marketing and sales
roles at Covidien, a global health care products company.
The company also announced that Stuart Morris-Hipkins, who has served as
Executive Vice President of Owens & Minor's Global Manufacturer Services
since joining the company in March 2017, has been promoted to President,
Global Solutions for Owens & Minor. A senior executive with more than 20
years of global leadership experience, Stuart previously worked for
Smith and Nephew, PLC, where he served from 2014 to 2017 as Senior Vice
President and General Manager.
"Our integration planning process has been moving swiftly and we look
forward to closing the transaction, so that we can hit the ground
running," said P. Cody Phipps, Chairman, President & Chief Executive
Officer of Owens & Minor. "We believe that Owens & Minor has a
compelling path to growth through the S&IP transaction and the ongoing
execution of our strategy. Owens & Minor will benefit from the deep
healthcare industry experience and expertise of both Chris and Stuart."
In other actions, the company also announced that Nicholas J. Pace has
been promoted to Executive Vice President, General Counsel, Corporate
Secretary and Communications. Pace, who joined Owens & Minor in 2016,
previously served as Senior Vice President & General Counsel at Owens &
About Owens & Minor, Inc.
Owens & Minor, Inc. (NYSE:
OMI) is a global healthcare solutions company dedicated to Connecting
the World of Medical Products to the Point of CareSM
by providing vital supply chain services to healthcare providers and
manufacturers of healthcare products. Owens & Minor provides logistics
services across the spectrum of medical products from disposable medical
supplies to devices and implants. With logistics platforms strategically
located in the United States and Europe, Owens & Minor serves markets
where three quarters of global healthcare spending occurs. Owens &
Minor's customers span the healthcare market from independent hospitals
to large integrated healthcare networks, as well as group purchasing
organizations, healthcare products manufacturers, the federal
government, and healthcare patients at home through its Byram Healthcare
subsidiary. A FORTUNE 500 company, Owens & Minor is headquartered in
Richmond, Virginia, and has annualized revenues exceeding $9 billion.
For more information about Owens & Minor, visit owens-minor.com,
on Twitter, and connect on LinkedIn at www.linkedin.com/company/owens-&-minor.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180105005101/en/
Owens & Minor, Inc.
Truitt Allcott, 804-723-7555
Investor & Media Relations
Director, Finance & Investor Relations
Source: Owens & Minor, Inc.
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