Owens & Minor’s Acquisition of Apria

Simpson Thacher represented Apria, while Kirkland & Ellis advised Owens & Minor on the deal.

Apria announced the acquisition by Owens & Minor, for $37.50 in cash per share, representing an equity value of approximately $1.45 billion, as well as the assumption of debt and cash for a total transaction value of approximately $1.6 billion. The transaction is subject to customary closing conditions, including the approval of Apria’s stockholders, and is expected to close during the first half of 2022.

Apria is a provider of integrated home healthcare equipment and related services in the United States. Owens & Minor is a global healthcare solutions company that incorporates product manufacturing, distribution support and innovative technology services to deliver significant and sustained value across the breadth of the industry – from acute care to patients in their home.

The Simpson Thacher team included Anthony Vernace (Picture), Michael Chao, Austin Uhm, Beini Chen and Kevin Perron (M&A); Jeannine McSweeney (Executive Compensation and Employee Benefits); Peter Guryan and Max Fischer-Zernin (Antitrust); Daniel Kay and Catherine Burns (Credit); Edgar Lewandowski (Capital Markets); Jonathan Goldstein and Ruoxi Zhang (Tax); Lori Lesser (Intellectual Property); Vanessa Burrows (Healthcare); Krista McManus, Dennis Loiacono and Stephanie Brenner (Real Estate); and Charles Mathes (Public Company Advisory).

The Kirkland team was led by corporate partners Maggie Flores and Eric Schiele and associates Keli Huang, Giorgia Nagalli and Marc Holloway, capital markets partners Tim Cruickshank and Jennifer Lee, debt finance partner Thomas Dobleman and associate Lee Discher, antitrust & competition partner Andrea Murino and associate Carolina Velarde, executive compensation partner Stephen Jacobson associate Katherine Nemeth, and healthcare partners Chad Ehrenkranz and Lindsay Borgeson.

Involved fees earner: Andrea Agathoklis Murino – Kirkland & Ellis; Lindsay Borgeson – Kirkland & Ellis; Tim Cruickshank – Kirkland & Ellis; Lee Discher – Kirkland & Ellis; Thomas Dobleman – Kirkland & Ellis; Chad Ehrenkranz – Kirkland & Ellis; Maggie Flores – Kirkland & Ellis; Marc Holloway – Kirkland & Ellis; Keli Huang – Kirkland & Ellis; Stephen Jacobson – Kirkland & Ellis; Jennifer Lee – Kirkland & Ellis; Giorgia Nagalli – Kirkland & Ellis; Katherine Nemeth – Kirkland & Ellis; Eric Schiele – Kirkland & Ellis; Carolina Velarde – Kirkland & Ellis; Catherine Burns – Simpson Thacher & Bartlett; Vanessa Burrows – Simpson Thacher & Bartlett; Michael Chao – Simpson Thacher & Bartlett; Beini Chen – Simpson Thacher & Bartlett; Maxime Fischer-Zernin – Simpson Thacher & Bartlett; Peter Guryan – Simpson Thacher & Bartlett; Daniel Kay – Simpson Thacher & Bartlett; Edgar Lewandowski – Simpson Thacher & Bartlett; Dennis Loiacono – Simpson Thacher & Bartlett; Charles Mathes – Simpson Thacher & Bartlett; Krista McManus – Simpson Thacher & Bartlett; Jeannine McSweeney – Simpson Thacher & Bartlett; Kevin Perron – Simpson Thacher & Bartlett; Austin Uhm – Simpson Thacher & Bartlett; Anthony Vernace – Simpson Thacher & Bartlett;

Law Firms: Kirkland & Ellis; Simpson Thacher & Bartlett;

Clients: Apria; Owens & Minor ;

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Author: Youness Semri