Owens and Minor Inc. History

June 7, 2018 History

Capstone Case Analysis (Owen & Minor, Inc. Company History) Name: Samuel Ansah Westwood College Instructor: Professor Ali Alavi Course: Management Capstone Date: March 31st, 2014 Owens and Minor Inc. History Owens & Minor Inc. is distributor of surgical and medical supplies to hospitals and other health care facilities. Owens & Minor Inc. (O&M) was founded by George Gilmer Minor Jr. , a wholesale drug salesman from Richmond Virginia in 1882. The name Owens & Minor came about as a result of the company joining forces with its competitor, and drug salesman Otho Owens.

Despite the fact that the Owens sold their interest in the company and the Minor family took over in as far back as 1920, the company still maintained the name with George Gilmer IV becoming the president of the company in 1947. In 1954, the Owens & Minor installed its first computerize system of order fulfillment. The company acquired two medical and surgical supply Companies in 1971and made its first public offering. Owens & Minor then embarked on major expansion strategy by acquiring new businesses and including Murray Drugs, White Surgical Supply and Southern Hospital.

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These acquisitions enable O&M to expand its operations to cover 10 States. Owens & Minor, Inc. (O&M) was incorporated on December 20, 1993, and is considered to be a provider of third-party logistics services to manufacturers and suppliers of healthcare and life-science products. O&M operates in two segments that are domestic and international and is listed as a Fortune 500 company that is providing distribution, third-party logistics, and other supply-chain management services to healthcare providers and suppliers of medical and surgical products. O&M is also a national distributor of medical and surgical supplies to the acute-care market in the United States. O&M’s HealthCare Logistics (OM HCL) third-party logistics service was launched back in 2010 and began offering transportation, warehousing and order-to-cash services to manufacturers (Reuters. com, 2012). Owens & Minor Domestic Segment: This segment includes all services in the United States that relates to its role as a medical supply logistics company that service healthcare providers and manufacturers.

O&M purchases a volume of medical and surgical products from suppliers through its distribution model in the United States, and stores these items at its distribution centers, as well as provides delivery of these products and related services to healthcare providers. O&M had at least 48 distribution centers throughout the continental United States that generally serve hospitals and healthcare providers within a 200mile radius, delivering supplies with a fleet of leased trucks.

The company offers its customers a broad portfolio of products and services. Distribution of medical and surgical supplies to healthcare providers, including its MediChoice private label product line, that account for over 95% of its Domestic segment revenues. Some additional services that O&M provides include logistics, supplier management, analytics, inventory management, outsourced resource management, clinical supply management and business process consulting. O&M domestic segment competes with Atlantic Healthcare Cardinal Health, Inc. and Medline, Inc. (Reuters. com, 2012). Owens & Minor International Segment: This segment includes Movianto, its European third-party logistics service that consists of Movianto, a European contract logistics service provider to the pharmaceutical, biotechnology and healthcare industry that offers a broad range of supply chain services which includes transportation, warehousing, controlled-substance handling, cold-chain delivery, re-labeling, kitting, packaging and order-to-cash management.

Movianto has a diverse customer base of about 600 clients with a network of 22 logistics centers in 11 European countries, including Belgium, Czech Republic, Denmark, France, Germany, Netherlands, Portugal, Slovakia, Spain, Switzerland and the United Kingdom. Movianto delivers its products using a fleet of leased and owned trucks, including cold-chain delivery trucks. The international segment completes with United Parcel Service, Deutsche Post DHL and FedEx Corporation. Reference Reuters. com. (2012). Owens & Minor Inc (OMI) Company Profile. Retrieved March 30th, 2014, from http://www. reuters. com/finance/stocks/companyProfile? symbol=OMI

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