2005 Annual Report
and Form 10-k
Product Process People
Owens & Minor serves the healthcare
industry with leading-edge medical
and surgical supply distribution and
supply-chain management innovation.
Owens & Minor, Inc.,
a FORTUNE 500 company headquartered in
Richmond,Virginia, is the leading distributor
of national name-brand medical and surgical
supplies and a healthcare supply-chain manage-
ment company. In 2005, the company reported
revenues of more than $4.8 billion, and with a
strong dividend policy, has produced a five-year
total return of 68.7% for shareholders. From its
nationwide network of distribution centers, the
company serves hospitals, integrated healthcare
systems, alternate care locations, group purchasing
organizations, the federal government and individ-
uals with a diverse product and service offering.
With the strategic acquisition of a diabetes-supply
company in 2005, Owens & Minor entered the
rapidly growing, direct-to-consumer healthcare
distribution market, adding more than 115,000
individual customers. Considered a leader in
the development and use of technology in
healthcare logistics, Owens & Minor added
expertise and innovation to its offerings with
the acquisition of two small technology companies
in 2005.With exceptional operational efficiency,
technology innovation and advanced supply-chain
consulting services, Owens & Minor enables
healthcare providers to improve efficiency and
lower cost in materials management, streamlining
logistics across the entire medical supply chain
by focusing on three essential components:
Product, Process and People.
Owens & Minor, founded in Richmond,Virginia,
in 1882, uses its mission, vision and values to
support its culture, which focuses on teammate
well-being, customer-service excellence, business
integrity and social responsibility. Owens & Minor
common shares are traded on the New York
Stock Exchange under the symbol OMI. As of
December 31, 2005, there were approximately
39.9 million common shares outstanding.Visit the
company’s Web site at www.owens-minor.com.
Contents
Financial Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Letter to Shareholders . . . . . . . . . . . . . . . . . . . . . . 2
Product . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
People . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Message from the Chairman . . . . . . . . . . . . . . . . . 12
Board of Directors . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Corporate Officers . . . . . . . . . . . . . . . . . . . . . . . . . 16
Form 10-k . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
Corporate Information . . . . . . Inside Back Cover
Financial Highlights
(in thousands, except ratios and per share data)
Year ended December 31,
2005
2004
2003
Revenue
Net income
Net income per common share – basic
Net income per common share – diluted
Cash dividends per common share
Book value per common share at year-end
Stock price per common share at year-end
Number of common shareholders
$ 4,822,414
$4,525,105
$4,244,067
$
$
$
$
$
$
64,420
1.63
1.61
0.52
12.84
27.53
11.8
$
$
$
$
$
$
60,500
1.55
1.53
0.44
11.65
28.17
12.5
$
$
$
$
$
$
53,641
1.52
1.42
0.35
10.53
21.91
Percent Change
05/04
6.6%
6.5%
5.2%
5.2%
18.2%
10.2%
04/03
6.6%
12.8%
2.0%
7.7%
25.7%
10.6%
(2.3%)
28.6%
13.5
(5.6%)
(7.4%)
Shares of common stock outstanding
39,890
39,519
38,979
0.9%
1.4%
Gross margin as a percent of revenue
Operating earnings as a percent of revenue
10.7%
2.4%
10.2%
2.4%
10.3%
2.5%
Long term debt
Inventory turns
Days sales outstanding
Operating cash flow
$ 204,418
$ 207,476
$ 209,499
(1.5%)
(1.0%)
9.8
26.3
9.9
26.5
10.3
27.8
$ 135,374
$
58,654
$
94,904
Revenue
(Dollars in billions)
Net Income
(Dollars in millions)
Diluted EPS
(Dollars per share)
Dividends
(Dollars per share)
Owens & Minor 2005 • 1
$4.2420032004$4.53$4.822005$1.4220032004$1.53$1.612005$53.620032004$60.5$64.42005$0.3520032004$0.44$0.522005 Letter to Shareholders
Craig R. Smith
President &
Chief Executive Officer
2 • Owens & Minor 2005
Dear Shareholders, Teammates,
Customers, Suppliers and Friends:
I have had the opportunity over the last year to visit customers,
teammates and supplier partners all over our great country, and
I heard a consistent message. Our healthcare customers are looking
for cost-effective products and services, and programs that will
improve operating margins, streamline supply-chain efficiency,
and enhance quality of care. Our supplier partners are looking
to improve operational efficiency for our mutual customers and
grow their market share. At Owens & Minor, with the help of
our dedicated and knowledgeable teammates, we are providing
the advanced supply-chain expertise, the tools and the technology
to meet the objectives of our customers and suppliers.
A glance at our results from 2005 shows earnings and revenue
improvement for the year, along with exceptional operating cash
flow. A deeper look at our performance reveals ongoing success
in working our long-term plan to increase operational efficiency,
help customers improve supply-chain processes, and develop
new markets in healthcare.We continued to invest in training
our teammates so their skills keep pace with the rapidly evolving
healthcare market. In 2005, we entered a new market—the direct-
to-consumer healthcare distribution market—with the acquisition
of Access Diabetic Supply, which markets diabetes testing and
monitoring supplies direct to consumers in their homes.
Financial Progress in 2005
Our financial results for this year included revenue growth of
6.6% and earnings per diluted common share of $1.61, after a
fourth-quarter software asset write-off. Operating earnings as a
percent of revenue held steady for the year, despite the write-off
and the impact of history-making hurricanes. As our company
“A deeper look at our performance reveals ongoing success
in working our long-term plan to increase operational
efficiency, help customers improve supply-chain processes,
and develop new markets in healthcare.”
Owens & Minor 2005 • 3
grows in complexity, we will point to improve-
ment in operating margin as a good measure of
our success.
In 2005, gross margin improved compared
to the year before, thanks to success in margin-
building initiatives, such as our direct-to-consumer
effort. Our core business productivity was strong
in 2005 with improvements in measurements such
as lines per hour and sales per teammate, enabling
us to keep core-business expenses under control,
while we invested in our new direct-to-consumer
effort, a higher-expense business model than our
traditional business.
A very bright story for us in recent years,
and again in 2005, was asset management. As
a result of strong “days sales outstanding” trends
and good inventory management, our operating
cash flow for 2005 was exceptional. In fact, over
the last three years, we have generated nearly
$300 million in operating cash flow. As a result of
this strong asset management and a strengthened
balance sheet, Standard & Poor’s upgraded our
corporate credit rating to investment grade.
In some areas during the year, we could have
improved our performance. Sales of our private
label, MediChoice®, were strong compared to
2004, but did not quite meet our own aggressive
growth targets. However, customer acceptance
of MediChoice® is strong and growing, and our
team is committed to 2006 growth goals. And,
while OMSolutionsSM, our consulting and out-
sourcing effort, brought on a number of new
engagements in 2005, the team continues to work
toward its profitability goals. However, by collabo-
rating with our traditional core business teams,
OMSolutionsSM helped to generate an estimated
$130 million in revenue for our traditional busi-
ness.These areas will be among the targets of our
short-term focus in the coming year, and we are
committed to reaching our goals in 2006.
Investing in our Future
Looking ahead at our longer term goals, we will
maintain our strategic focus on investment
in technology, margin improvement, advanced
supply-chain solutions, teammate development, and
our direct-to-consumer healthcare supply business.
Technology remains high on our agenda.
We constantly review our systems, develop
4 • Owens & Minor 2005
technology solutions for our customers, and,
when appropriate, acquire new technology.
During 2005, we acquired Cyrus Medical
Systems, developer of an implant-tracking soft-
ware solution for hospitals. At the end of the
year, we acquired Perigon, a software company
that has enriched our data-management offerings
with contract management and data-cleansing
capabilities for our hospital customers. Because
technology is a vital element of our business,
we were pleased to welcome Richard W. Mears
to our senior leadership team as our new chief
information officer. Rick, who came to us from
Perot Systems Corp., has two decades of tech-
nology experience in various industries and a
recognized expertise in healthcare.
During 2005, we invested in our future with
the acquisition of Access. Under the leadership of
its strong management team, Access doubled its
customer base in 2005, successfully integrated two
small acquisitions, and made an overall positive
contribution to our financial results.We are
pleased to have this high-energy team join the
Owens & Minor family. Looking ahead, we intend
to leverage this direct-to-consumer sales platform
to fulfill our strategy of “following the patient.”
We continued to collaborate with our
business partners, customers and suppliers to
improve our supply-chain efficiency and grow
our capabilities in healthcare. Supplier partners,
such as Tyco International, 3M, and B. Braun, are
working closely with us to improve efficiency,
grow market share and serve the growing needs
of our customers.
Committed to Strong Core Values
In just over a decade, we have doubled our
revenues and entered new markets in healthcare.
Despite these changes, we have successfully
maintained our positive, teammate- and customer-
centered culture.We know our culture plays a
significant role in our success. In 2005, we were
honored for our efforts to support minority- and
women-owned businesses with the 2005 Premier
Diversity Recognition Award from Premier
Purchasing Partners, LP, the purchasing unit of
Premier, Inc.We were also honored with the
2005 International Torch Award for Marketplace
Ethics from the Better Business Bureaus, which
“Over the years, we have evolved from an exclusive focus on product distribution
to an expanded focus on product, process and people. Today, we complement our
products and product-moving ability with effective process-improvement expertise,
which we offer our hospital customers every day.”
cited our “commitment to and demonstration of
ethical practices in the marketplace.” Our core
values—high integrity, belief in teammate well-
being, superior customer service, supporting our
communities and delivering long-term value to
our shareholders—are the very foundation of
Owens & Minor.We are steadfast in our com-
mitment to these values.
We are looking forward to moving into a
new Home Office building in early 2006, allow-
ing our team to work together under one roof.
This is a long overdue improvement, as we have
more than outgrown the building we entered
16 years ago, when we were barely a $1 billion
company. This new facility will improve efficiency,
communication and teamwork, and will allow us
to increase the classroom capacity of Owens &
Minor University, our in-house learning center,
giving teammates, customers and business part-
ners even greater access to courses in business
ethics, finance, sales and leadership.
I especially want to recognize and thank our
teammates and hospital customers in the Gulf
Coast Region and Florida, as well as teammates
throughout our organization, who all worked
tirelessly together during and after the hurricanes
in 2005. Putting aside personal concerns, our
teammates immediately brought our facilities
back on-line after these disastrous storms and
went above and beyond to serve our hospital
customers. Meanwhile, healthcare providers in
the hurricane zones bravely continued to serve
patients despite the devastation.We were all
impressed with the dedication and courage of
these professionals.
As a result of my meetings with hospital
executives, suppliers and teammates in 2005,
I am convinced that now, more than ever,
Owens & Minor is in the right place at the right
time to serve the growing needs of the health-
care industry. Over the years, we have evolved
from an exclusive focus on product distribution
to an expanded focus on product, process and
people. Today, we complement our products
and product-moving ability with effective
process-improvement expertise, which we offer
our hospital customers every day. We are also
reaching out beyond the hospitals to individual
healthcare consumers at home.
Looking back at 2005, I want to thank our
teammates for their hard work and dedication—
they are essential to our success. Also during
the year, our former chief executive officer,
G. Gilmer Minor, III, took on the role of non-
executive chairman of the board of directors.
I am grateful to Gil, who has been a teacher
and mentor to me throughout my years at
Owens & Minor. I look forward to working
with him in his new role, as he continues as a
coach for our teammates, a liaison to our cus-
tomers, and an advisor to our leadership team.
As we move into 2006, I know we can
count on our teammates across the country to
ensure that Owens & Minor capitalizes on the
growing opportunities in healthcare. Looking
forward, we are energized, excited and dedicated
to meet the challenges ahead.
Sincerely,
Craig R. Smith
President & Chief Executive Officer
Owens & Minor 2005 • 5
Product In healthcare, a product is
a promise. At Owens & Minor,
a warehouse is more than a
building—it is the foundation
of a sophisticated supply-chain
system that connects patients
to the medical products
they need.
O&M’s reputation for operational
excellence stems from exceptional
warehouse training and advanced
Our teammates in 42 warehouses
O&M streamlines supply-chain processes
nationwide are well-trained,
for hospitals and clinicians, using
highly motivated and customer-
tools such as SurgiTrack®, our inte-
supply-chain management techniques.
service oriented.
grated procedure management program.
6 • Owens & Minor 2005
Through our private label,
MediChoice®, O&M offers value and
quality on products from pediatric
supplies to protective apparel.
A Strong Foundation for Healthy Growth
For generations, Owens & Minor’s teammates, distribution
centers, and supply-chain processes have connected medical and
surgical supplies, such as gowns, gloves and sutures, to healthcare
providers all over the country. Today, 42 Owens & Minor distri-
bution centers, handling approximately 130,000 medical and
surgical products from nearly 1,000 suppliers, serve over 4,000
acute-care hospital customers—fueling our revenue growth.
Throughout, one goal has remained constant: getting the
right product to the right place, at the right time and at the right
price for our customers. Long known for our operational excel-
lence, 2005 was no exception for Owens & Minor. Productivity
measures from lines per hour to sales per teammate improved.
Working closely with our manufacturer partners, we improved
operational efficiency, grew market share and provided hospitals
with vital medical and surgical supplies. Our FOCUSTM program,
which rewards suppliers for efficiency, grew steadily in 2005.
Also, MediChoice®, our private label, gained acceptance in the
market in 2005, offering more than 1,000 products to hospitals
around the nation.
In addition, our activity-based management service, CostTrackSM,
and our inventory management tools, such as PANDAC®, generated
strong revenue, contributed to margins, and helped us continue to
provide excellent customer service.
In products, technology and services, the healthcare industry
is in constant transition. As the leader in innovative supply-chain
management, Owens & Minor will continue to evolve with the
industry, delivering products and supply-chain management
expertise with exceptional quality and service.
“At Owens & Minor, we have a strong trust in all of our
teammates. Despite the changing demands of healthcare,
our productivity continues to improve and our core
values remain constant.”
—Charles C. Colpo, Senior Vice President, Operations & Technology
Owens & Minor 2005 • 7
O&M inventory improvement
processes, such as suture man-
agement and implant tracking,
help hospitals maximize effi-
ciency and lower cost.
Bringing Power to Knowledge and Process
In many ways, our hospital customers all want the same things—
consistently positive clinical outcomes, cost-effective operations
and, above all, safe and satisfied patients.
To support these goals, Owens & Minor accomplishes far
more than just superior physical product distribution.We give
our customers the tools to help them attain the same level of
operational excellence in which we ourselves take pride.
We’ve enhanced supply-chain management with our own
specialized product: Owens & Minor knowledge. Our outsourcing
and consulting team, OMSolutionsSM, continues to focus on ideas
that create real savings for our customers. Using technology such
as our information management tool WISDOM2 SM, we help
customers optimize forecasting and lower procurement costs.
Through OMSolutionsSM in 2005, we enhanced our ability to
track inventory and improve purchasing efficiencies by acquiring
supply-chain solutions companies such as Cyrus Medical Systems
and Perigon. And, our new Integrated Service Centers, where
we combine traditionally distributed products with direct-from-
manufacturer products out of the same location, are models of
the customer-focused warehouses of tomorrow.
Each day, our teammates are in scores of hospitals managing
inventory, in our distribution centers leveraging our supply-chain
expertise, or at the Home Office creating an integrated technology
platform that has the power to transform our business.With
remarkable technology to back us up, Owens & Minor is deter-
mined to lead healthcare supply-chain management into the future.
“At Owens & Minor, our technology and processes work
together seamlessly, enabling us to provide high-quality,
innovative service to our customers. We have a long-held
commitment to leveraging the power of technology to extend
real supply-chain process improvement to our customers.”
—Richard W. Mears, Senior Vice President & Chief Information Officer
8 • Owens & Minor 2005
Process Between the loading dock and
the point of care, where can
best practices bring acute-
care customers the greatest
reward? Owens & Minor strives
to answer this question each
and every day.
Process improvement starts with data.
Using O&M’s supply-chain
O&M’s on-site professionals work directly
Using O&M’s state-of-the-art technology,
processes, clinicians are free
hospitals can monitor purchasing
to focus on patient care, rather
with hospital clinicians and materials
management professionals to improve
trends, track inventory and improve
than supply-chain management.
the healthcare supply chain.
contract compliance.
Owens & Minor 2005 • 9
Data collection, contract
Getting products to our
Listening to customers is key to
management and accurate
invoicing are all services
customers — at the right place,
our success. We survey customers
at the right time, at the right
each year and conduct focus
that Owens & Minor offers
price — is fundamental to
groups to gauge the needs of
hospital customers.
customer satisfaction with O&M.
our hospitals.
People At its core, healthcare is about people.
At Owens & Minor, we operate from
a commitment of service to people,
from our teammate-centered culture,
to our continued outstanding
customer service, to our strategy
of following the patient.
10 • Owens & Minor 2005
In 2005, Owens & Minor was awarded the Better Business Bureaus’
prestigious International Torch Award for Marketplace Ethics.
Owens & Minor was recognized and honored for fostering
a culture that focuses on integrity, teammates and customer
service. Our commitment to our people—team members and
customers alike—is recognized nationwide.
Extending Our Culture
of Caring to Customers
At Owens & Minor, our success is built on teamwork, flexibility
and listening.We are dedicated to sustaining the satisfaction of
our employees and creating an environment where providing
exceptional customer service—and building trust—are the true
foundation of our operations.
In 2005, we extended our service-oriented approach to
a new kind of customer. Our new subsidiary, Access Diabetic
Supply, propelled Owens & Minor in a new direction— selling
directly to the patient. This direct-to-consumer, home healthcare
market represents a bold new direction, as well as opportunity
for company growth.
As with many of our acquisitions, Owens & Minor has
welcomed the principals from Access to our team, strengthening
our expertise and market share in healthcare.
In addition, Owens & Minor is committed to giving our
teammates the ability to grow within the company. To this end,
through Owens & Minor University, we fully support our com-
pany training program, where teammates have collectively taken
more than 14,500 courses since the doors opened in 2003.
Moreover, in a move that benefits all, in 2005 we began offering
training courses to our customers to spread Owens & Minor-
style efficiencies in these hospitals and healthcare organizations.
As healthcare evolves and old businesses grow into new,
there’s one thing that remains constant at Owens & Minor:
our commitment to people. You can always rely on our
leadership through changing times.
Owens & Minor 2005 • 11
Our teammates are responsible
for our success. They carry our
mission, vision and values into
the marketplace and ensure that
we remain a leader in healthcare.
Message from the Chairman
James E. Rogers
Lead Director
G. Gilmer Minor, III
Chairman
12 • Owens & Minor 2005
Owens & Minor has always thrived on change. Our
history reflects that the company has continued to grow in good
economic times and bad by always placing a priority on our
shareholders, teammates and customers. We have never managed
our company for the short term. Looking ahead with a willing-
ness to make investments and take risks has kept the company
moving forward. And, we have done it with integrity, a steadfast
loyalty to our people, and a caring culture that has produced
extraordinary customer service throughout the years. As we
grew from a small company in the early 1960s to one of national
stature and reach, our cultural integrity has been the unifying
bridge through the years. Whether we acquired businesses in
Texas or California or Florida, we worked hard in these new
geographical areas to instill our culture of always striving to do
the right thing. We have earned the trust of our supplier partners,
customers and teammates alike, and have built the modern day
Owens & Minor on this firm foundation.
Change is Good
This year has been no exception for embracing change.
I stepped down as chief executive officer at the end of June
2005, and turned these responsibilities over to Craig Smith,
President and then COO. This had been on my mind for
a while, and Craig was ready. The transition has been successful.
I continue as Chairman of the Board and will devote my time
and energy to board matters, assisting with long-range strategic
planning and supporting our cultural integrity.
In 2005, two new members joined our board of directors.
They are: Eddie N. Moore, Jr., President of Virginia State
“As we grew from a small company in the
early 1960s to one of national stature and
reach, our cultural integrity has been the
unifying bridge through the years.”
Owens & Minor 2005 • 13
University in Petersburg Virginia, and Craig
R. Smith, President & CEO of the company.
They replace Vernard W. Henley, who faithfully
served as a director for 11 years, and Henry A.
Berling, who retired from six years of service on
the board and 38 years with the company. We
have a strong and diverse board of 12 outstand-
ing individuals, 10 of whom are independent.
It is a cohesive board that works well together
and knows our business and industry. Three years
ago we established the role of an independent
lead director. Jim Rogers, President of SCI
Investors Inc., fills that role. I will continue to
work with Jim and the board as the non-
executive Chairman.
The board has been especially busy this
year because of the growing complexity of the
securities rules and regulations, the number of
acquisitions we have made, and our active plan-
ning for the future. In 1996, we established a
Governance & Nominating Committee, which
is now chaired by independent board member
Marshall Acuff. Some might say that in 1996
we were ahead of our time, but we believed that
we were acting in a manner consistent with our
cultural focus on doing our business the right
way. This committee continues to refine and
redefine best practices in corporate governance.
Giving Back
As a company, we also try to make a difference
in the communities we serve. Philanthropy and
community service are a natural extension of our
mission, vision and values. We take very seriously
the part of our mission statement that says we
will give back to the communities we serve.
Although we do not have a company foundation
to support our giving efforts, we earmark dona-
tions each year from our earnings. Every six
weeks, our teammate donations committee meets
to review requests for charitable donations.
14 • Owens & Minor 2005
While we focus our charitable giving on health,
education and community, nearly 50% of our
donations go to health-related charities.
Around the nation, teammates in our 42
distribution centers also contribute time, energy
and money to local charities, such as the Boy
Scouts, Little League, Meals on Wheels, and the
United Way. We work very closely in all of these
efforts with our technology partner, Perot
Systems Corp., who shares our commitment to
community service.What makes me so proud is
that our teammates all across the country volun-
teer their time and open their pocketbooks and
wallets in the spirit of giving back to the com-
munities we serve. We try hard to be a good
corporate citizen, and it is our teammates, who,
day in and day out, make giving a reality. I believe
you can tell that this is one of the reasons I love
them so much.
We Are Prepared
Healthcare continues to be under pressure
because of rising demand for care and the
accompanying rising cost. Ours is a growth
industry, and Owens & Minor is well positioned
to be a part of the solution to rising costs and
supply-chain challenges as we continue to grow.
Owens & Minor has the tools, the expertise, the
technology and the people to meet the needs of
healthcare. Go,Team, Go!
Thanks for your support this past year.
We remain dedicated to successful results that
benefit our shareholders, customers, suppliers
and teammates.
Warm regards,
G. Gilmer Minor, III
Chairman & Coach
Board of Directors
G. Gilmer Minor, III (65) 1*
Chairman & Retired CEO,
Owens & Minor, Inc.
A. Marshall Acuff, Jr. (66)1,2,5*
Retired Senior Vice President
& Managing Director,
Salomon Smith Barney, Inc.
J. Alfred Broaddus, Jr. (66) 3,5
Retired President,
Federal Reserve Bank
of Richmond
John T. Crotty (68) 2,4*
Managing Partner,
CroBern Management Partnership
President, CroBern, Inc.
James B. Farinholt, Jr. (71)1, 2*,4
Managing Director,
Tall Oaks Capital Partners, LLC
Richard E. Fogg (65) 2,4
Retired Partner,
PricewaterhouseCoopers LLP
Eddie N. Moore, Jr. (58) 2,5
President,
Virginia State University
Peter S. Redding (67) 3,4
Retired President & CEO,
Standard Register Company
James E. Rogers (60) 1
Lead Director,
Owens & Minor, Inc.
President, SCI Investors Inc.
Craig R. Smith (54) 4
President & CEO,
Owens & Minor, Inc.
James E. Ukrop (68) 3,5
Chairman,
Ukrop’s Super Markets, Inc.
Chairman, First Market Bank
Anne Marie Whittemore (59)1, 3*,5
Partner, McGuireWoods LLP
Board Committees:
1Executive Committee, 2Audit Committee, 3Compensation & Benefits Committee,
4Strategic Planning Committee, 5Governance & Nominating Committee,
*Denotes Chairman
Owens & Minor 2005 • 15
Corporate Officers
Craig R. Smith (54)
President & Chief Executive Officer
Richard F. Bozard (58)
Vice President,Treasurer
President since 1999 and Chief Executive Officer since July
2005. Mr. Smith has been with the company since 1989.
Vice President and Treasurer since 1991. Mr. Bozard has
been with the company since 1988.
Charles C. Colpo (48)
Senior Vice President, Operations & Technology
Olwen B. Cape (56)
Vice President, Controller
Senior Vice President, Operations & Technology since
April 2005 and Senior Vice President, Operations since
1999. Mr. Colpo has been with the company since 1981.
Erika T. Davis (42)
Senior Vice President, Human Resources
Senior Vice President, Human Resources since 2001.
From 1999 to 2001, Ms. Davis was Vice President of
Human Resources. Ms. Davis has been with the
company since 1993.
Grace R. den Hartog (54)
Senior Vice President, General Counsel & Corporate Secretary
Senior Vice President, General Counsel & Corporate
Secretary since 2003. Ms. den Hartog previously served
as a Partner of McGuireWoods LLP from 1990 to 2003.
Jeffrey Kaczka (46)
Senior Vice President & Chief Financial Officer
Senior Vice President & Chief Financial Officer since 2001.
Previously, Mr. Kaczka served as Senior Vice President and
Chief Financial Officer for Allied Worldwide, Inc. from
1999 to 2001.
Richard W. Mears (45)
Senior Vice President & Chief Information Officer
Senior Vice President & Chief Information Officer
since June 2005. Previously, Mr. Mears was an Executive
Director with Perot Systems from 2003 to June 2005,
and an Account Executive from 1998 to 2003. Mr. Mears
joined Perot Systems in 1988, and has experience in the
healthcare, distribution, telecommunications, financial
services and manufacturing industries.
Mark A.Van Sumeren (48)
Senior Vice President, OMSolutionsSM
Senior Vice President, OMSolutionsSM since 2003.
Mr. Van Sumeren previously served as Vice President for
Cap Gemini Ernst & Young from 2000 to 2003.
16 • Owens & Minor 2005
Vice President and Controller since 1997. Ms. Cape has
been with the company since 1997.
Hugh F. Gouldthorpe, Jr. (67)
Vice President, Quality & Communications
Vice President, Quality & Communications since 1993.
Mr. Gouldthorpe has been with the company since 1986.
Scott W. Perkins (49)
Group Vice President, Sales & Distribution –West
Group Vice President, Sales & Distribution –West since
October 2005. Previously, Mr. Perkins served as Senior
Vice President, Sales & Distribution from January to
October 2005. Prior to that, he served as Regional Vice
President –West from March to December 2004, an Area
Vice President from 2002 to 2004, and as an Area Director
of Operations from 1999 to 2002. Mr. Perkins has been
with Owens & Minor since 1989.
W. Marshall Simpson (37)
Group Vice President, Sales & Distribution – East
Group Vice President, Sales & Distribution – East since
October 2005. Previously, Mr. Simpson served as Regional
Vice President from 2004 until October 2005. Prior to
that, Mr. Simpson served as Operating Vice President
of Corporate Accounts from 2003 to 2004, Operating
Vice President of Business Integration from 2002 to 2003,
and Area Vice President – Southwest from 1999 to 2002.
Mr. Simpson has been with the company since 1991.
Numbers inside parentheses indicate age.
Corporate Information
Annual Meeting
The annual meeting of Owens & Minor, Inc.’s shareholders
will be held at 10:00 a.m. on Friday, April 28, 2006,
at the Virginia Historical Society, 428 N. Boulevard,
Richmond,Virginia.
Transfer Agent, Registrar
and Dividend Disbursing Agent
The Bank of New York
Investor Services Department
P.O. Box 11258
Church Street Station
New York, NY 10286-1258
800-524-4458
shareowners@bankofny.com
BuyDIRECTSM Stock Purchase
and Dividend Reinvestment Plan
Our transfer agent,The Bank of New York, offers a Direct
Purchase and Sale Plan for shares of Owens & Minor, Inc.
common stock known as the BuyDIRECTSM Plan.The
BuyDIRECTSM Plan provides registered shareholders of
Owens & Minor and interested first-time investors a way
to buy and sell shares of Owens & Minor common stock.
Inquiries should be directed to The Bank of New York
(see contact information above).
Shareholder Records
Direct correspondence concerning Owens & Minor, Inc.
stock holdings or change of address to The Bank of
New York’s Investor Services Department (listed above).
Direct correspondence concerning lost or missing dividend
checks to:
The Bank of New York
Receive and Deliver Department
P.O. Box 11002
Church Street Station
New York, NY 10286-1002
Duplicate Mailings
When a shareholder owns shares in more than one account
or when several shareholders live at the same address, they
may receive multiple copies of annual reports.To eliminate
multiple mailings, please write to the transfer agent.
Counsel
Hunton & Williams
Richmond,Virginia
Independent Auditors
KPMG LLP
Richmond,Virginia
Press Releases
Owens & Minor, Inc.’s press releases are available
at www.owens-minor.com.
Communications and Investor Relations
804-747-9794
Information for Investors
The company files annual, quarterly and current reports,
information statements and other information with the
Securities and Exchange Commission (SEC).The public
may read and copy any materials that the company files
with the SEC at the SEC’s Public Reference Room at 450
Fifth Street, N.W.,Washington, D.C. 20549.The public may
obtain information on the operation of the Public Reference
Room by calling the SEC at 1-800-SEC-0330.The SEC
also maintains an Internet site that contains reports, proxy
and information statements, and other information regarding
issuers that file electronically with the SEC.The address of
that site is http://www.sec.gov.The address of the company’s
Internet Web site is www.owens-minor.com.Through a link
to the SEC’s Internet site on the Investor Relations portion
of our Web site we make available all of our filings with the
SEC, including our annual report on Form 10-K, quarterly
reports on Form 10-Q, current reports on Form 8-K and
amendments to those reports, as well as beneficial ownership
reports filed with the SEC by directors, officers and other
reporting persons relating to holdings in Owens & Minor,
Inc. securities.This information is available as soon as the
filing is accepted by the SEC.
Corporate Governance
The company’s Bylaws, Corporate Governance Guidelines,
Code of Honor and the charters of the Audit, Compensation
& Benefits, and Governance & Nominating Committees
are available on the company’s Internet Web site at
www.owens-minor.com and are available in print to
any shareholder upon request by writing to:
Corporate Secretary
Owens & Minor, Inc.
9120 Lockwood Boulevard
Mechanicsville,Virginia 23116
Communications with the Board of Directors
The Board of Directors has approved a process for
shareholders to send communications to the Board.
Shareholders can send written communications to the
Board, any committee of the Board, the Lead Director
or any other individual director at the following address:
P.O. Box 26383, Richmond,Virginia 23260. All communi-
cations will be relayed directly to the applicable director(s),
except for communications screened for security purposes.
Certifications
The company’s chief executive officer certified to the
New York Stock Exchange (NYSE) within 30 days after
the company’s 2005 Annual Meeting of Shareholders that
he was not aware of any violation by the company of
NYSE corporate governance listing standards. The company
also filed with the SEC as exhibits 31.1, 31.2, 32.1 and 32.2
to its Annual Report on Form 10-K for the year ended
December 31, 2005, certifications by its chief executive
officer and chief financial officer.
Mission
Vision
Values
To create consistent value for our customers and supply-chain partners that
will maximize shareholder value and long-term earnings growth; we will do
this by managing our business with integrity and the highest ethical standards,
while acting in a socially responsible manner with particular emphasis on the
well-being of our teammates and the communities we serve.
To be a world class provider of supply-chain management solutions
to the selected segments of the healthcare industry we serve.
We believe in high integrity as the guiding principle of doing business.
We believe in our teammates and their well-being.
We believe in providing superior customer service.
We believe in supporting the communities we serve.
We believe in delivering long-term value to our shareholders.
Owens & Minor, Inc.
Corporate Office
804-747-9794
Street Address
Mailing Address
9120 Lockwood Boulevard
Post Office Box 27626
Mechanicsville,Virginia 23116
Richmond,Virginia 23261-7626
www.owens-minor.com