Owens & Minor
Distributor of medical supplies to hospitals.
Owens & Minor is a supply-chain solutions company and the nation's leading distributor of name-brand medical and surgical supplies. Through its extensive distribution network, diverse product offering and expertise in technology, logistics and supply-chain management, Owens & Minor serves more than 4,500 acute-care hospital customers across the country. These hospitals include urban healthcare sysems, rural hospitals, university-based teaching hospitals, the federal government and group purchasing organizations.
The company uses state-of-the-art forecasting and planning systems to ensure that customers have the products they need when they need them.
The majority of company sales are consumable goods, such as disposable gloves, dressings, endoscopic products, needles and syringes, sterile procedure trays, surgical products and gowns, and urological and wound-closure products.
Owens & Minor has 55 distribution centers nationwide.
Owens & Minor has a long relationship with the Dept. of Defense and helps supply medical equipment to forces in Iraq and Afghanistan.
In 2010, the company reported revenues of $8.1 billion, a 1.1% increase, and net income of $110.6 million.
In the late 1880s, Richmond, VA, was the center of drug wholesaling in the South. Only New Orleans matched the number of Richmond’s five established wholesalers.
Otho O. Owens and G. Gilmer Minor were talented young salesmen working for competing drug wholesalers. As their paths crossed, they recognized and admired each other’s talents and began to discuss the future of drug wholesaling. In 1882, they launched their own company: Owens & Minor.
Much has happened since 1882. Mr. Owens died in 1906, and the Minor family became instrumental in the company's growth, with four successive generations of Minors serving as visionaries and taking the company to new heights. Owens & Minor became one of the most prominent drug wholesalers in the South.
In the 1960s, the company entered the medical-surgical supply business.
In 1971, the company was first listed in the over-the-counter stock exchange. The company began trading on the NY Stock Exchange in 1988.
In December 2009, Owens & Minor's board of directors approved a plan to fund and terminate the company's noncontributory defined benefit pension plan. The plan covered substantially all employees who had earned benefits as of December 31, 1996. On that date, the benefits of employees under this plan were frozen, with all participants becoming fully vested. As planned, the company terminated its pension plan in the fourth quarter of 2010.
Updated August 22, 2011