Saturday, December 16, 2017

© Reuters.  Halyard sells S&IP unit to Owens & Minor for $710M; shares up 12%© Reuters. Halyard sells S&IP unit to Owens & Minor for $710M; shares up 12%

  • Consistent with its transition into a pure-play medical device operation, Halyard Health (HYH +11.6%) agrees to sell its Surgical and Infection Prevention (S&IP) business to Owens & Minor (OMI -17.1%) for $710M. The transaction should close in Q1 2018.
  • The S&IP unit provides healthcare supplies and solutions targeting the prevention of healthcare-related infections. The deal includes the company’s current IT platform in addition to the Halyard Health brand. Halyard will provide certain support services for a least one year to assist with the integration into OMI’s operations.
  • OMI is down after its Q3 miss in both earnings and revenue.
  • Now read: Neos to consider other offers after rejecting PDL bid of .25

Original article

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