Medtech stocks rebounded from a significant dip earlier in June last week, continuing to highlight the topsy-turvy nature of the markets during the COVID-19 pandemic. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 85.00 points at the end of last week (June 19). That total represents […]
Owens & Minor completes Movianto sale
Owens & Minor (NYSE:OMI) announced that it completed the sale of its Movianto European logistics business to EHDH Holding Group. In January, Owens & Minor announced that it intended to sell the Movianto business, expecting to collect proceeds reaching $133 million to be used to further reduce company debt. The company purchased Movianto in 2012 for […]
U.S. senators demand investigation of Trump COVID-19 supply chain effort
Three U.S. senators today demanded an investigation into Project Air Bridge, a Trump administration supply chain management project to import personal protective equipment (PPE) and other medical supplies during the COVID-19 pandemic. Dubbing the project “opaque,” U.S. Senators Elizabeth Warren (D-Mass.), Chuck Schumer (D-N.Y.) and Richard Blumenthal (D-Conn.) also released new documents and information from […]
MedTech 100 roundup: Stocks stand pat in June’s first week
While the markets experienced some growth over the past week, stocks in the medtech industry remained practically unchanged over seven days. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 87.15 points at the end of last week (June 5). That total represents just a -0.02-point decrease […]
Owens & Minor announces offers worth $240m
Owens & Minor (NYSE:OMI) announced that it commenced offers to purchase outstanding senior notes that could total up to $240 million. The tender offers to purchase the senior notes include the Mechanicsville, Va.-based company’s 3.875% notes due in 2021 ($233.1 million aggregate amount outstanding) and 4.375% senior notes due in 2025 ($275 million outstanding, plus $15 […]
Owens & Minor announces $50m offering
Owens & Minor (NYSE:OMI) announced that it entered into an equity distribution agreement for a common stock offering worth up to $50 million. The Mechanicsville, Va.-based company’s agreement is with Citigroup Global Markets and includes its common stock at a par value of $2 per share that could total $50 million. Citigroup will also receive a […]
Owens & Minor down on mixed bag Q1 results
Owens & Minor (NYSE:OMI) posted first-quarter results that were in line with the earnings consensus on Wall Street and beat on revenue. The Mechanicsville, Va.-based company reported losses of $11.3 million, or -15¢ per share, on sales of $2.1 billion for the three months ended March 31, for a sales loss of -9.7% compared with Q1 […]
DoD’s $133m N95 mask contracts going to 3M, Honeywell, Owens & Minor
The U.S. Defense Department’s $133 million in N95 respirator contracts are going to 3M (NYSE:MMM), Owens & Minor (NYSE:OMI) and Honeywell (NYSE:HON), a top DoD official said today. Ellen Lord, Undersecretary of Defense for Acquisition, said the military finalized the contracts this week — enabling the delivery of 39 million N95 masks over the next 90 days. The contracts […]
How will coronavirus affect medtech companies that rely on elective surgeries?
One thing is likely to hurt some medtech companies more than others during the coronavirus pandemic: an elective surgical procedure slowdown. This thought had begun to emerge last week among industry watchers, but a pair of tweets over the weekend gained thousands of “likes” and retweets. The American College of Surgeons called for hospitals to […]
Owens & Minor shares down 20% on mixed Q4 results
Owens & Minor (NYSE:OMI) posted fourth-quarter results today that beat the earnings consensus on Wall Street but missed on earnings. The Mechanicsville, Va.-based company reported losses of -$39 million, or -65¢ per share, on sales of $2.2 million for the three months ended Dec. 31, 2019, for a bottom-line sales loss of -10% compared with Q4 […]
Owens & Minor’s ArcRoyal warns of excess ethylene oxide in tubing sets
Owens & Minor (NYSE:OMI) company ArcRoyal issued an urgent field safety notice in Europe to warn of an issue with ethylene oxide (EtO) residue in custom procedure trays that contain an insufflation tubing set with gas from Karl Storz. Karl Storz initiated the recall, noting that the affected products contained increased residues of the carcinogenic sterilant […]
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