Owens & Minor has closed the acquisition of Halyard Health’s surgical and infection prevention (S&IP) business for $710m, expanding its footprint in the medical products segment.

The deal extends Owens & Minor’s network to approximately 90 new global markets and channels, as well as adding enhanced scale to its product portfolio.

Halyard Health offers a global manufacturing network, an established portfolio, and experience in product development.

The transaction is expected to add $1bn to Owens & Minor’s revenues, with annual pre-tax synergies of around $13.5m over the next year.

“We believe this will enhance our ability to respond quickly to a changing healthcare industry.”

Owens & Minor executive vice-president, chief financial officer and president-international Richard Meier said: “Strategically and financially attractive, the transaction gives us a highly regarded portfolio of products, while further enabling our ability to provide value for our customers.

“We believe this will enhance our ability to respond quickly to a changing healthcare industry by focusing on unique product solutions and value-enhancing bundles as we expand into more clinically relevant points of care.”

The S&IP business includes medical supplies and solutions to prevent healthcare-related infections throughout acute care and non-acute care areas.

It comprises multiple surgical and infection prevention products such as sterilisation wraps, surgical drapes and gowns, facial protection, medical exam gloves and protective clothing.

Some of the company’s surgical drape brands include Aeroblue and Aerochrome, along with Purple, Lavender and Sterling exam gloves, and One-Step, Quick Check and Smart-Fold for sterilisation wraps.