8-K

ACCENDRA HEALTH INC/VA/ (ACH)

8-K 2022-04-21 For: 2022-04-21
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Added on April 10, 2026

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 21, 2022

Owens & Minor, Inc.

(Exact name of registrant as specified in its charter)

Virginia 001-09810 54-1701843
(State or other jurisdiction of<br><br>incorporation or organization) (Commission<br>File Number) (I.R.S. Employer<br><br>Identification No.)
9120 Lockwood Boulevard, Mechanicsville Virginia 23116
(Address of principal executive offices) (Zip Code)
Post Office Box 27626,<br><br>Richmond, Virginia 23261-7626
(Mailing address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code (804) 723-7000

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, $2 par value per share OMI New York Stock Exchange

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
--- ---
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company    o If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.             o

Item 7.01 Regulation FD Disclosure.

Owens & Minor, Inc. (the “Company”) is filing this Current Report on Form 8-K to furnish certain unaudited reclassified summary segment financial information for the years ended December 31, 2021 and 2020 and for each of the quarters for the year ended December 31, 2021, to reflect the changes in the Company’s reporting segments that were effective during the first quarter of 2022. These changes will be reported in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 to be filed with the Securities and Exchange Commission.

To better reflect how we go to market as well as certain changes to the leadership team, organizational structure, budgeting and financial reporting processes which drive changes to segment reporting, the Company has organized its business into two segments - Patient Direct and Products & Healthcare Services. Effective during the first quarter of 2022, the Company reclassified its prior financial results into these segments. This change in segment reporting does not revise or restate the Company’s consolidated balance sheets, consolidated statements of operations, consolidated statements of comprehensive income, consolidated statements of changes in shareholders' equity or consolidated statements of cash flows for any fiscal period.

The Company is furnishing the summary segment financial information attached hereto as Exhibit 99.1 pursuant to Item 7.01 of Form 8-K. In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d)    Exhibits.

99.1 Unaudited reclassified summary segment financial information for Owens & Minor, Inc. and its subsidiaries for the fiscal years ended December 31, 2021 and 2020 and each of the quarters for the year ended December 31, 2021 (furnished pursuant to Item 7.01)
104 Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

OWENS & MINOR, INC.
Date: April 21, 2022 By: /s/ Nicholas J. Pace
Name: Nicholas J. Pace
Title: Executive Vice President, General Counsel and Corporate Secretary

Document

Owens & Minor, Inc.

Summary Segment Information (unaudited)

(dollars in thousands)

The unaudited reclassified summary segment financial information below is provided to reflect the realignment of the Company's reporting segments effective during the first quarter of 2022. The Company did not operate under the realigned structure for any of these prior periods and will begin to report comparative results under the new structure effective with the filing of its Quarterly Report on Form 10-Q for the quarter ending March 31, 2022.

Reportable segment data on a quarterly basis for the year ended December 31, 2021 and on an annual basis for the years ended December 31, 2021 and 2020 is presented in the table below:

Year Ended December 31, 2021
Year Ended December 31, 2020 First Quarter Second Quarter Third Quarter Fourth Quarter Total
Net revenue:
Products & Healthcare Services $ 7,662,429 $ 2,109,445 $ 2,255,820 $ 2,256,295 $ 2,204,086 $ 8,825,646
Patient Direct 817,748 217,089 233,640 245,880 263,060 959,669
Consolidated net revenue $ 8,480,177 $ 2,326,534 $ 2,489,460 $ 2,502,175 $ 2,467,146 $ 9,785,315
Operating income:
Products & Healthcare Services $ 215,698 $ 150,418 $ 101,229 $ 64,415 $ 68,328 $ 384,390
Patient Direct 67,662 12,263 14,305 14,865 16,533 57,966
Intangible amortization (41,490) (10,026) (10,026) (10,025) (9,730) (39,807)
Acquisition-related and exit and realignment charges (37,752) (5,963) (8,624) (6,380) (13,109) (34,076)
Consolidated operating income $ 204,118 $ 146,692 $ 96,884 $ 62,875 $ 62,022 $ 368,473
Depreciation and amortization:
Products & Healthcare Services $ 77,131 $ 19,160 $ 18,847 $ 18,868 $ 18,673 $ 75,548
Patient Direct 16,205 3,740 3,753 3,774 3,806 15,073
Consolidated depreciation and amortization $ 93,336 $ 22,900 $ 22,600 $ 22,642 $ 22,479 $ 90,621
Capital expenditures:
Products & Healthcare Services $ 58,137 $ 6,464 $ 11,806 $ 13,498 $ 16,514 $ 48,282
Patient Direct 1,056 159 252 446 551 1,408
Consolidated capital expenditures $ 59,193 $ 6,623 $ 12,058 $ 13,944 $ 17,065 $ 49,690