Owens & Minor rises after Rotech Healthcare deal termination
Shares of medical supplies distributor Owens & Minor OMI.N rise 5% to $6.99 premarket
OMI says it has mutually agreed with Rotech Healthcare Holdings to terminate the previously announced acquisition
Under the terms of the merger agreement, OMI has paid $80 million to Rotech Healthcare
Co in July said it has agreed to buy medical equipment firm Rotech Healthcare for $1.36 billion in cash to expand its presence in home-based care
Co also said in February it was commencing a process to raise additional debt to finance its Rotech acquisition
"We continue to work with a number of interested parties around the potential sale of our Products and Healthcare Services business, and, in the meantime, we will continue to actively work to strengthen that business and tap into its significant upside," says CEO Edward A. Pesicka
Up to last close, stock down 49% YTD
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