Owens & Minor, Inc.

Vice President, Investor Relations.

Thank you, Operator. Good evening, everyone, and welcome to Owens & Miners' third quarter earnings call. Our comments on the call will be focused on the financial results for the third quarter of 2025, all of which are included in today's press release. The press release, along with the third quarter 2025 supplemental earnings slides, are posted on the Investor Relations section of our websites. Please note that during this call, we will make forward-looking statements that reflect the current views of Owens & Miner about our business, financial performance, and future events. The matters addressed in these statements are subject to risks and uncertainties, which could cause actual results to differ materially from those projected or implied here today. Our expectations, beliefs, and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that our expectations, beliefs, and projections will result or be achieved. Please refer to our SEC filings for a full description of these risks and uncertainties, including the risk factors section of our annual report on Form 10-K and quarterly reports on Form 10-Q. Any forward-looking statements that we make on this call or in our earnings press release are, as of today, and we undertake no obligation to update these statements as a result of new information or future events, except to the extent required by applicable law. In our discussion today, we will refer to non-GAAP financial measures and believe they might help investors to better understand our performance or business trends. Information about these measures and reconciliations to the most comparable GAAP financial measures are included in our press release. Today, I am joined by Ed Pasica, Owens & Miners President and Chief Executive Officer, John Leon, the company's Chief Financial Officer, and Perry Bernacchi, the EVP and CEO of the company's patient direct segment. I will now turn the call over to Ed. Ed?

Thank you, Will. Good afternoon, everyone, and thank you for joining us on the call today. Earlier this month, we announced a definitive agreement with Platinum Equity to sell our products and healthcare services segment. which includes both the medical distribution and global products divisions. Built on a strong foundation, we believe PNHS will be better positioned to compete in today's evolving market under Platinum Equity's private ownership model. We are also excited to be retaining an equity interest in the business due to Platinum's operational expertise and commitment to building on the customer-centric legacy of the business, which will be critical to the future growth of PNHS. The Owens & Miner name has long been associated with our P&HS business, and thus will follow that business in the transaction. As we near the close of the transaction, we are excited that we will be rebranding the public entity to better represent our trajectory going forward. So as I think about the future, following the divestiture of product and healthcare services, I am thrilled that we can fully align around a single business. Our capital allocation, strategic priorities, and execution are no longer split. They are unified around advancing the future of home-based care through patient direct. And by retaining our higher margin patient direct business, we will generate improved and more consistent cash flow. Accordingly, we will prioritize debt repayment in the near term to grow our financial flexibility, while investing in technology to lower our cost to serve and improve the customer experience. Now, I would like to begin by sharing some of the opportunities we're seeing in the market and how these trends we're tracking continue to support our business, a business that we have grown and strengthened over time. Beginning with our acquisition of Byram in 2017, we have spent the past eight years firmly establishing ourselves as a leader in the home-based care space. During this time, we have expanded and diversified our payer relationships while broadening our product offering and capabilities. This combined with our coast-to-coast network gives us the reach and infrastructure to provide support for patients across multiple chronic conditions, including diabetes and sleep apnea. These conditions are not only widespread, they're growing, which creates a tremendous opportunity for us to make a meaningful impact. Over 37 million people in the United States have been diagnosed with diabetes, and an estimated 96 million adults aged 18 and older are living with prediabetes, according to the National Institutes of Health. In order to capture future growth from these tailwinds, we will focus our investments on technology and automation, which will, one, improve the patient's experience, two, allow us to quickly scale our business, three, increase awareness, and four, further reduce our cost to serve. Another core area for us is sleep apnea, where it is estimated that 85 million adults in the United States have some degree of OSA, with approximately 70 million of those presently undiagnosed or undergoing the diagnosis process. While the use of GLP-1s has increased in recent years, recent studies published by the Lancet expect the use of GLP-1s to reduce the prevalence of OSA by only 4% over the next 25 years. This is a significant opportunity for us to serve these future patients. It also further demonstrates the value of our preferred provider agreements where new patients are encouraged to begin their lifelong treatment journey with us. supporting better health and a better quality of life. Earlier this year, CMS proposed rules regarding competitive bidding around home-based healthcare and DME. Since entering the home-based care space, our top priority has always been and will continue to be ensuring patients receive the products and services they need reliably and on time. While competitive bidding programs have historically raised questions about patient choice and supplier access, We believe our scale, expertise, and the quality of the products we distribute positions us as a standout partner in any environment. As we await further guidance from CMS, we are actively collaborating with industry partners and advocacy groups to maintain a strong, transparent dialogue that keeps patient outcomes at the center of the conversation. Before I turn the call over to John to discuss our third quarter financial performance and our thoughts on the year end, I would like to close my thoughts today on where we're going in 2026. With the divestiture of product and healthcare services expected to close in the first quarter of 2026, we are incredibly excited about the future as a pure play business in the home-based care space. As our business grows organically through our preferred provider agreements, such as our recently announced agreement with Optum and an aggressive sales strategy, we are diligently focused on controlling our balance sheet through debt pay down managing operational cost controls, and lowering the cost to serve, and accelerating our cash flow generation. As we close out 2025 and look forward to 2026, we will begin the next evolution for Owens & Miner, with myself, John, and Perry Bernacchi, the Executive Vice President of our Patient Direct business, remaining at the helm of our organization. I would like to thank all our teammates who have done a great job of staying focused on serving our customers, With that, I will now turn the call over to John to discuss our financial performance in the third quarter and our outlook for the rest of 2025. John?