The P&HS business is expected to gain from Platinum’s expertise in carve-outs, industry knowledge, and focus on business expansion

P&HS will keep the Owens & Minor brand and function as an independent company within Platinum’s holdings

LOS ANGELES, Dec. 31, 2025 — Platinum Equity today confirmed the closing of its acquisition of the Owens & Minor Products & Healthcare Services division (“Owens & Minor P&HS”).

The deal encompasses the Owens & Minor brand, and the purchased entity will remain operational as Owens & Minor P&HS, a privately owned independent company in Platinum Equity’s portfolio.

The seller, which kept a five percent stake in the company, recently stated that its remaining operations will be renamed Accendra Health, Inc., starting December 31, 2025.

Based in Richmond, VA, Owens & Minor P&HS is a vertically integrated platform for distributing medical supplies, mainly catering to the acute care sector. It is a top national distributor of medical and surgical supplies to hospitals, health systems, and other healthcare providers throughout the United States.

“Owens & Minor has been driven by a powerful purpose for over 140 years, and we are honored to back its new phase as an independent entity,” stated , Co-President of Platinum Equity. “Leveraging our industry knowledge, carve-out experience, and operational support, we can assist the company in becoming a more nimble and attentive partner to the healthcare sector. We will collaborate with the company to solidify its base, broaden its abilities, and guarantee the ongoing delivery of vital products and services precisely when and where customers require them.”

Platinum Equity has made multiple investments in healthcare and supply chain companies and possesses three decades of experience in buying and running global businesses that were formerly segments of larger corporations. Recently, the firm has purchased divisions from companies such as Caterpillar, Emerson Electric, Ingersoll Rand, and Kohler.

Platinum Equity Managing Director emphasized that maintaining continuity is vital during the transition.

“Owens & Minor P&HS has a distinguished history of prioritizing customers, and we are thrilled to help continue that tradition,” said Louie. “We aim to preserve continuity while implementing careful enhancements to keep the company adaptable, responsive, and in tune with its customers’ changing demands. We will partner closely with the team to bolster fulfillment performance, achieve operational excellence in manufacturing and distribution, and speed up growth in proprietary products. Concurrently, we will fund supply chain upgrades to boost efficiency and robustness.”

Bank of America and Fifth Third acted as financial advisors to Platinum Equity for the P&HS acquisition. Gibson, Dunn & Crutcher LLP served as legal advisor, Willkie Farr & Gallagher LLP as debt financing counsel, and Latham & Watkins LLP as special regulatory counsel to Platinum Equity on the deal.

Citi and Wells Fargo were the financial advisors to Owens & Minor. Kirkland & Ellis acted as legal advisor for Owens & Minor.

About Platinum Equity
Established in 1995 by , Platinum Equity is a global investment firm managing roughly $50 billion in assets and a portfolio of about 60 operating companies serving clients worldwide. The firm focuses on mergers, acquisitions, and operations – a patented approach termed M&A&O^® – involving the acquisition and management of companies across diverse sectors such as manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications, and others. Platinum Equity has executed over 500 acquisitions in the last 30 years.

Contact:

Dan Whelan
Platinum Equity

SOURCE Platinum Equity