Owens & Minor Strengthens Diabetes Supply Subsidiary With Purchase of iCare Assets
Posted on: Friday, 4 November 2005, 15:00 CST
RICHMOND, Va., Nov. 4 /PRNewswire-FirstCall/ -- Owens & Minor announced today that its subsidiary, Access Diabetic Supply, LLC ("Access"), has acquired certain operating assets of iCare Medical Supply, Inc., a small, Florida-based, direct-to-consumer, diabetes and respiratory supply company. The October 27, 2005 acquisition consists primarily of customer relationships and inventory and is expected to expand Access' customer base to approximately 115,000 active customers. Access, which was acquired by Owens & Minor on January 31, 2005, serves mail-order customers nationwide with diabetes testing supplies, primarily blood glucose monitors and test strips, along with products for certain other chronic disease categories.
"Access has grown steadily this year and this acquisition supports our expansion strategy," said Craig R. Smith, president and chief executive officer of Owens & Minor. "So far this year, Access has made a positive contribution to our overall financial results by effectively serving the rapidly growing, direct-to-consumer market for diabetes monitoring and testing supplies."
According to recently published statistics from the Centers for Disease Control in the 2005 National Diabetes Fact Sheet, nearly 21 million people in the United States have diabetes, an increase of 14% since 2002. Of this number, more than six million are unaware they have the debilitating disease. Currently, nearly one in 10 adults aged 20 and older has diabetes, with 1.5 million new cases diagnosed this year. Diabetes is the sixth leading cause of death in the U.S. today. According to the American Diabetes Association, regular testing of blood glucose levels is an essential element in the successful day-to-day management of diabetes.
Owens & Minor, Inc., a FORTUNE 500 company headquartered in Richmond, Virginia, is the leading distributor of national name-brand medical and surgical supplies and a healthcare supply chain management company. With a diverse product and service offering and distribution centers throughout the United States, the company serves hospitals, integrated healthcare systems, alternate care locations, group purchasing organizations, the federal government and consumers. Owens & Minor provides technology and consulting programs that enable healthcare providers to maximize efficiency and cost- effectiveness in materials purchasing, improve inventory management and streamline logistics across the entire medical supply chain -- from origin of product to patient bedside. The company also has established itself as a leader in the development and use of technology. For news releases, or for more information about Owens & Minor, visit the company Web site at http://www.owens-minor.com/.
Owens & Minor, Inc.
CONTACT: Trudi Allcott, Director, Investor Communications & MediaRelations of Owens & Minor, Inc., +1-804-935-4291
Web site: http://www.owens-minor.com/
Company News On-Call: http://www.prnewswire.com/comp/667125.html
Source: PRNewswire-FirstCall
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