Owens & Minor, a healthcare supply company, said June 5 it mutually agreed to end its planned acquisition of Rotech Healthcare, a home medical equipment company.
The $1.36 billion cash transaction was called off due to what the company described as an “unviable” regulatory environment.
“For many months, our teammates, along with the Rotech team, have worked tirelessly in cooperation with the Federal Trade Commission to close this transaction,” Edward Pesicka, president and CEO of Owens & Minor, said in a statement. “And while we believe there would have been ample benefits to patients, payors, and providers by adding Rotech to our Patient Direct business, the path to obtain regulatory clearance for this merger proved unviable in terms of time, expense and opportunity.”
As part of the merger agreement, Owens & Minor said it has paid $80 million to Rotech.
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