Owens & Minor
is a Fortune 500
The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks the top 500 U.S. closely held and public corporations as ranked by their gross revenue after adjustments made by Fortune to exclude the impact of excise taxes companies collect. The list includes publicly and...
company based in Mechanicsville, Virginia
Mechanicsville is the name of four places in the Commonwealth of Virginia in the United States of America:*Mechanicsville, Hanover County, Virginia*Mechanicsville, Loudoun County, Virginia*Mechanicsville, Rockbridge County, Virginia...
. This company is a distributor of medical and surgical supplies.
Owens & Minor is the fourth oldest company in Richmond, Virginia. The company was originally founded in 1882 as a wholesale drug company by Ortho Owens and G. Gilmer Minor. Since then, three generations of Minors have ascended to the presidency of the company.
In 1955, Owens & Minor acquired the accounts and the name of Bodeker Drug Company. Bodeker Drug Co. was well-known to generations of Richmond citizens, having been established in 1846, nearly two decades before Owens & Minor Drug Co. was founded. Bodeker Drug was also twice as large as its new owner, giving Owens & Minor a considerable boost to its business and lending the company a new name: Owens, Minor & Bodeker Drug Co.
In 1995, the company was named to the Fortune 500. Craig Smith took on the role of executive vice president and Chief Operating Officer, while G. Gilmer Minor, III remained president. However, by 2005, Minor had stepped down, relinquishing title of Chief Executive Officer, but remaining Chairman of the Board. Craig Smith was named as Chief Executive Officer.
On September 30, 2006, O&M acquired the direct-to-consumer distributor McKesson Medical-Surgical Inc., a business unit of McKesson
McKesson Corporation is the largest health care company in the world, with sales of $106.6 billion in 2009.McKesson is based in the United States and distributes health care systems, medical supplies and pharmaceutical products...
, for $152.1 million.
While CEO of Owens and Minor in 2008, Craig R. Smith earned a total compensation of $2,982,637, which included a base salary of $788,077, a cash bonus of $1,080,000, stock granted of $1,072,516, and no options.