What happened Shares of home healthcare equipment provider Apria (NASDAQ: APR) were skyrocketing 26.2% higher as of 12:05 p.m. ET on Monday. The huge jump came after Owens & Minor (NYSE: OMI) announced plans to acquire Apria for around $1.45 billion. So what Owens & Minor offered $37.50 in cash per share for Apria. That's a 26% premium to the price of Apria's shares at the market close on Friday, and a 24% premium over Apria's 30-day volume-weighted average price. It's also only slightly below the all-time high for the healthcare stock. Image source: Getty Images. The acquisition appears to be good news, therefore, for Apria shareholders. But is it a smart move for Owens & Minor? Probably so. Owens & Minor bought medical supply distributor Byram Healthcare in 2017. The addition of Apria should be a good fit with Byram's business. Owens & Minor will be in a stronger position to target the $50 billion home healthcare market. From a financial perspective, acquiring Apria will be accretive to Owens & Minor's revenue; adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA); and earnings per share. The deal also diversifies Owens & Minor's revenue stream. Now what The transaction has already been unanimously approved by the boards of directors of both Owens & Minor and Apria. Two additional key hurdles remain -- the approval of Apria's shareholders and a green light from regulators. However, these hurdles shouldn't be hard to jump. The companies expect that the acquisition will close during the first half of this year. 10 stocks we like better than Apria Healthcare Group Inc.When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Apria Healthcare Group Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of December 16, 2021 Keith Speights has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source