ALPHARETTA, Ga., May 1, 2018/PRNewswire/ -- Halyard Health, Inc. today announced the completion of the previously disclosed divestiture of its S&IP business to Owens and Minor, Inc. (NYSE: OMI) for $710 million. Halyard intends to use the approximately $600 million in net proceeds from the sale to pay off its existing Term Loan B credit facility and to fund internal investment and M&A.

Halyard Health, Inc. today announced it has entered into a definitive agreement with Owens & Minor, Inc. to sell its Surgical and Infection Prevention ("S&IP") business for $710 million. S&IP provides healthcare supplies and solutions that target the prevention of healthcare-associated infections.