Platinum to acquire Products & Healthcare Services segment of Owens & Minor

Platinum Equity announced that it has entered into a definitive agreement to acquire the Products & Healthcare Services segment of Owens & Minor (OMI). Owens & Minor will retain a 5% interest in the business. Headquartered in Richmond, VA, P&HS is a vertically-integrated medical supply distribution platform primarily serving the acute care market. It is a leading national distributor of medical and surgical supplies for hospitals, health systems, and other healthcare providers across the United States. The transaction is expected to close near the end of the year, subject to regulatory review and other customary closing conditions. Bank of America (BAC) and Fifth Third (FITB) are serving as financial advisors to Platinum Equity on the P&HS acquisition. Gibson, Dunn & Crutcher is serving as legal advisor, Willkie Farr & Gallagher is serving as debt financing counsel, and Latham & Watkins (SWIM) is serving as special regulatory counsel to Platinum Equity on the transaction. Citi (C) and Wells Fargo (WFC) are acting as financial advisors to Owens & Minor.