Owens & Minor Inc. announced the largest acquisition in the company's history - a $710 million cash deal to buy the surgical and infection prevention business of Georgia-based Halyard Health Inc. The acquisition is expected to add about $1 billion in revenue and $80 million of annual operating profits for Owens & Minor, a Hanover County-based international distributor of medical supplies. Halyard's surgical and infection-prevention business supplies products such as sterilization wraps, surgical drapes and gowns, protective apparel and medical exam gloves.
Tobacco giant Altria Group Inc. has made a minority investment in Avail Vapor LLC, a rapidly growing chain of shops that sells electronic cigarettes based in Chesterfield County. The investment comes as Henrico County-based Altria, parent company of the nation's largest cigarette maker, Philip Morris USA, looks to also become the market leader in nicotine-delivery products that could be less risky to health and more socially acceptable than conventional cigarettes. Avail Vapor has opened 102 retail stores in 12 states. Altria did not disclose the dollar amount of its investment in Avail, or its ownership stake.
With accreditation from the Centers for Medicare & Medicaid Services in hand, Medarva Healthcare's latest area location, Medarva West Creek Surgery Center, is now fully open for business. The independent ambulatory surgery center in Goochland County's West Creek Medical Park has 6,600 square feet with two operating rooms. An expected second phase is slated to open in the first or second week of December with four procedure rooms.
New H&M store
Chic cheap fashion retailer H&M plans to open its store in Richmond's Stony Point Fashion Park on Dec. 7. The store will occupy 20,000 square feet of space near the mall's centrally located Triangle Park.
Goochland County-based used-car retailer CarMax Inc. said Cliff Wood plans to retire as executive vice president and chief operating officer by the end of the summer of 2018. He will be succeeded by Ed Hill, currently CarMax's executive vice president, strategy and business transformation.
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