Celesio plans to sell Movianto to U.S.-based Owens & Minor
Celesio AG, Stuttgart, Germany & Richmond, VA, USA, July 23, 2012
* Significant step as part of focus on Celesio core business
* Owens & Minor, Inc., a leading U.S. medical products distributor and logistics provider views Movianto as strategic platform business, intends to keep business and teams intact
Celesio AG, a leading international trading company and provider of logistics and services in the pharmaceutical and healthcare sector, announced today that it plans to sell its Movianto Group, which specialises in third party logistics for the pharmaceutical and healthcare industries, to Owens & Minor, Inc., a leading U.S.-based distributor of medical and surgical products and logistics provider. With the pending divestiture of Movianto, Celesio is rapidly strengthening its focus on its core business.
Owens & Minor intends to acquire Movianto for a purchase price of 130 million euro. The transaction is subject to the fulfilment of certain customary local legal provisions. Owens & Minor, which has a U.S.-based third party logistics service but no European operations, plans to integrate the two businesses, but plans to keep the Movianto teams and logistics centres located across Europe intact. Celesio and Owens & Minor also intend to explore mutually beneficial projects in distribution and logistics in the healthcare markets.
The upcoming sale of pharmaceutical logistics company Movianto, which has been part of the Celesio Group since 2004, is in-line with a fundamental strategic realignment. Celesio announced in October 2011 that it would focus consistently on the core business with pharmaceutical wholesale and pharmacies, which stands for more than 95 per cent of the group business. As part of this development, the sale of the former division Manufacturer Solutions, which included Movianto, was appraised and then decided. Movianto operates across Europe and has a headcount of approximately 1,800 full-time employees.
Celesio CEO Markus Pinger: "We are about to sell Movianto more swiftly than originally planned. We can combine this with the opportunity to pursue partnerships with Owens & Minor, a leading U.S. company. We are implementing our new strategy with great consequence and step by step. The decision to sell is mainly driven by the buyer's reputation for quality and integrity, thus defending the best interest of the Movianto employees. With Owens & Minor, we have found a potential investor who will drive Movianto's successful development, offering new prospects. This is an all-round positive solution for all parties concerned."
"The intended acquisition of Movianto provides Owens & Minor with a premier European healthcare logistics franchise, enabling us to significantly expand our existing third-party logistics presence and scale," said Craig R. Smith, president & chief executive officer of Owens & Minor. "Our manufacturer partners have increasingly expressed interest in working with Owens & Minor on a global basis, and Movianto provides us with an exceptional platform in Europe. Owens & Minor looks forward to working with the Movianto and Celesio teams to serve customers and create long-term value."
Dr Jens Schreiber, Celesio AG, +49 (0)711.5001-380 [email protected]
Rainer Berghausen, Celesio AG, +49 (0)711.5001-549 [email protected]
Owens & Minor
Trudi Allcott, Director, Investor & Media Relations, 1-804-723-7555 [email protected]
Chuck Graves, Director, Finance & Investor Relations, 1-804-723-7556; [email protected]
About Celesio Group
Celesio is a leading international trade, logistics and service company working in the pharmaceutical and healthcare sector that proactively and preventatively ensures that patients receive optimum care and support. We operate in 27 countries worldwide and employ around 46,000 people. With more than 2,200 of our own and 4,500 partner and brand partner pharmacies, we look after more than two million customers daily. We supply around 65,000 pharmacies and hospitals with up to 130,000 medications through our approximately 140 branches. For more information visit company website at: www.celesio.com
About Owens & Minor, Inc.
(NYSE: OMI) a FORTUNE 500 company headquartered in Richmond, Virginia, is a leading national distributor of name-brand medical and surgical supplies and a healthcare supply-chain management company. Owens & Minor is also a member of the Russell 2000® Index, which measures the performance of the small-cap segment of the U.S. equity universe, as well as the S&P MidCap 400, which includes companies with a market capitalization of $1 billion to $4.4 billion that meet certain financial standards. With a diverse product and service offering and distribution centers throughout the United States, the company serves hospitals, integrated healthcare systems, alternate site locations, group purchasing organizations, healthcare suppliers, and the federal government. Owens & Minor provides technology and consulting programs that improve inventory management and streamline logistics across the entire medical supply chain – from origin of product to patient bedside. For news releases, or for more information about Owens & Minor, visit the company website at www.owens-minor.com.