Accendra just turned the old Owens & Minor into a purer home-care story. The problem is that the first read-through includes a major payor exit, falling Q1 revenue, negative free cash flow, and a refinancing that has to work before the cleaner story can matter.
References
Sources used in this report
SEC submissionsSEC submissions JSON for CIK 00000752522026-05-13 · Issuer identity, ticker, exchange, former Owens & Minor name, SIC, fiscal year end, filing inventory, and latest report set.SEC XBRL companyfactsSEC companyfacts for CIK 00000752522026-05-13 · Standardized financial fact context for cross-checking Accendra reported financial data.Annual reportFY2025 Form 10-K2026-02-20 · Business description, P&HS sale, products, payors, competition, regulatory risks, payor concentration, FY2025 continuing revenue, debt, liquidity, and employees.Quarterly reportQ1 2026 Form 10-Q2026-05-11 · Q1 results, capitation revenue, payor termination impact, AR sale program, debt, cash, current maturities, liquidity, and balance-sheet optimization terms.Earnings releaseQ1 2026 earnings release, Exhibit 99.12026-05-11 · Q1 net revenue, adjusted EBITDA, free cash flow, EPS, debt, cash, net debt, and management framing of the post-P&HS company.Investor presentationQ1 2026 investor presentation, Exhibit 99.22026-05-11 · P&HS cash consumption, continuing-operation margin profile, Q1 bridges, one-time cash-flow items, and balance-sheet optimization summary.Proxy statement2026 definitive proxy statement2026-04-02 · Board independence, risk oversight, compensation design, stock ownership, clawback, no hedging/pledging, and annual director elections.Current reportP&HS divestiture Form 8-K2025-12-31 · Transaction context for the P&HS sale, name reset, debt and transition items, and post-divestiture company shape.Peer annual reportAdaptHealth FY2025 Form 10-K2026-02-24 · Peer context for home medical equipment, respiratory, sleep, diabetes, referrals, reimbursement, competitive bidding, compliance, and regulatory risk.