Owens & Minor’s $710 Million Acquisition of Halyard’s S&IP Business

BofA Merrill Lynch and Lazard acted as lead financial advisors to Owens & Minor. Citigroup also provided advice to Owens & Minor. Simpson Thacher & Bartlett, LLP acted as lead legal counsel to Owens & Minor; while Hyman, Phelps & McNamara, P.C. provided advisory services on regulatory matters; and Eversheds Sutherland provided advisory services on international legal matters. Debevoise & Plimpton LLP is advising Deutsche Bank Securities as financial advisor to Halyard Health, Inc.

Owens & Minor (NYSE: OMI) has signed a definitive agreement to acquire the surgical and infection prevention (“S&IP”) business of Halyard Health, Inc. for approximately $710 million in cash. The highly complementary business will increase scale and profitability across Owens & Minor’s global business, while also enhancing the company’s owned-brand product portfolio and expanding the company’s global network into new markets and channels.

Halyard’s S&IP business is a leading global provider of medical supplies and solutions for the prevention of healthcare-associated infections across acute care and non-acute care markets. S&IP’s focused portfolio of surgical and infection prevention offerings, which includes sterilization wraps, surgical drapes and gowns, facial protection, protective apparel and medical exam gloves, is highly regarded in the industry. Recognized S&IP brands include surgical drape products such as AEROBLUE and AEROCHROME; exam gloves including PURPLE, LAVENDER and STERLING; and sterilization wrap such as ONE-STEP, QUICK CHECK and SMART-FOLD. As a market leader with a differentiated product portfolio and strong brand recognition, S&IP brings an experienced global sales force with direct channel access to both acute care and non-acute care markets throughout the world. Additionally, S&IP brings a world-class manufacturing network, a strong pipeline of new products, and a successful track record of bringing products to the global market.

Simpson Thacher is representing Owens & Minor, Inc. with a team including Mario Ponce (Picture), Matthew Rogers, Elizabeth Romefelt, Christine Turner and William Hong (M&A); Brian Gluck and Matthew Farrell (Banking and Credit); Risë Norman, Teresa Chen and Loren Shokes (Capital Markets); Lori Lesser and Kate Stein (Intellectual Property); Larry Moss, Patricia Adams and Jason Fixelle (Executive Compensation and Employee Benefits); Rob Holo, Andrew Purcell and Deborah Plum (Tax); Amanda Weiss (Public Company Advisory); Peter Guryan, Ellen Frye and Karen Hunt (Antitrust); and Krista McManus (Real Estate).

Debevoise & Plimpton LLP is advising Deutsche Bank Securities as financial advisor to Halyard Health, Inc. with a team including Andrew L. Bab and includes associates Usman Arain and Adam Garmezy.

Involved fees earner: Andrew Bab – Debevoise & Plimpton; Usman Arain – Debevoise & Plimpton; Adam Garmezy – Debevoise & Plimpton; Mario Ponce – Simpson Thacher & Bartlett; Matthew Rogers – Simpson Thacher & Bartlett; Elizabeth Romefelt – Simpson Thacher & Bartlett; Christine Turner – Simpson Thacher & Bartlett; Brian Gluck – Simpson Thacher & Bartlett; Matthew Farrell – Simpson Thacher & Bartlett; Risë Norman – Simpson Thacher & Bartlett; Teresa Chen – Simpson Thacher & Bartlett; Amanda Weiss – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Kate Stein – Simpson Thacher & Bartlett; Laurence Moss – Simpson Thacher & Bartlett; Patricia Adams – Simpson Thacher & Bartlett; Jason Fixelle – Simpson Thacher & Bartlett; Robert Holo – Simpson Thacher & Bartlett; Andrew Purcell – Simpson Thacher & Bartlett; Deborah Plum – Simpson Thacher & Bartlett; Krista McManus – Simpson Thacher & Bartlett; Peter Guryan – Simpson Thacher & Bartlett; Ellen Frye – Simpson Thacher & Bartlett; Karen Horvitz Hunt – Simpson Thacher & Bartlett;

Law Firms: Debevoise & Plimpton; Simpson Thacher & Bartlett;

Clients: Deutsche Bank Securities; Owens & Minor ;


Author: Ambrogio Visconti