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FTC Gives Early OK To Owens & Minor Acquisition Of McKesson Medical-Surgical, Inc. (MCK)


8/17/2006 8:52:57 AM

RICHMOND, Va.--(BUSINESS WIRE)--Aug. 16, 2006--Owens & Minor (NYSE: OMI - News) announced today that the Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR), in connection with the company's proposed acquisition of certain assets of the acute-care medical and surgical supply distribution business of McKesson Medical-Surgical, a business unit of McKesson Corporation (NYSE: MCK - News). Completion of the HSR review satisfies one of the closing conditions contained in the purchase agreement, dated July 10, 2006, between Owens & Minor and McKesson. As previously announced, Owens & Minor agreed to acquire certain assets of McKesson's acute-care distribution business for approximately $170 million. It is anticipated that the transaction will close during Owens & Minor's third quarter.

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 www.owens-minor.com.

Safe Harbor Statement

Except for the historical information contained herein, the matters discussed in this press release may constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected. These include the rate at which new business can be converted to the company, intense competitive pressures within the industry, the success of the company's strategic initiatives, changes in customer order patterns, pricing pressures, changes in government funding to hospitals and other healthcare providers, loss of major customers, Medicare reimbursement rates and other factors discussed from time to time in the reports filed by the company with the Securities and Exchange Commission. The company assumes no obligation to update information contained in this release.

Contact: Owens & Minor, Inc. Jeff Kaczka, 804-723-7500 jeff.kaczka@owens-minor.com or Dick Bozard, 804-723-7502 dick.bozard@owens-minor.com or Trudi Allcott, 804-723-7555 truitt.allcott@owens-minor.com

Source: Owens & Minor, Inc.

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