Owens & Minor (NYSE: OMI), a health-care logistics firm, recently announced the resignation of CFO Alexander J. Bruni at the company’s request.
Corporate Treasurer and Senior Vice President Jonathan A. Leon stepped in as interim CFO, effective June 21.
In 2022, Owens & Minor completed its $1.6 billion acquisition of Apria, a leading provider of home medical equipment (HME) for respiratory therapy, sleep apnea treatment, negative pressure wound therapy and continuous glucose monitoring.
The executive shake-up follows other recent changes, including the appointment of Snehashish Sarkar as chief information officer in May.
Owens & Minor leadership is focused on driving growth in its patient-direct and product and health services segments. For Q1 2024, the company reported consolidated revenue of $2.6 billion, a 4% increase from the previous year, despite a net loss per share of $0.29.
The patient direct segment, which provides home respiratory and medical equipment, saw a 5% revenue increase to $638 million, while products and health-care services grew by 3% to nearly $2 billion.
CEO Edward Pesicka attributed the growth to the strength of the team and effective market strategies during an earnings call. Despite the positive revenue trends, the company anticipates inflationary pressures to impact its full-year outlook, with expected revenue ranging from $10.5 billion to $10.9 billion.
Additionally, Owens & Minor may be relocating its headquarters after selling its Mechanicsville, Virginia, property to the Virginia Department of Transportation for $33.5 million.
This move could signify further strategic adjustments for the company in the near future.
When Owens & Minor bought Apria, it combined it with the company’s existing Byram Healthcare business.
