Omnicell $575 million convertible senior notes offering
Davis Polk advised the representatives of the initial purchasers in a Rule 144A offering by Omnicell, Inc. of $575 million aggregate principal amount of 0.25% convertible senior notes due 2025, including $75 million principal amount of convertible notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional convertible notes. In addition, Davis Polk advised counterparties to convertible note hedge and warrant transactions in connection with the convertible notes offering. Omnicell’s common stock is listed on the Nasdaq Global Select Market under the symbol “OMCL.”
Omnicell, Inc. is a leading provider of medication management automation solutions and adherence tools for healthcare systems and pharmacies. Through the vision of the autonomous pharmacy, a combination of automation, intelligence, and technology-enabled services, powered by a cloud data platform, Omnicell supports more efficient ways to manage medications across all care settings. Over 6,000 facilities worldwide use Omnicell automation and analytics solutions to help increase operational efficiency, reduce medication errors, deliver actionable intelligence, and improve patient safety. More than 40,000 institutional and retail pharmacies across North America and the United Kingdom leverage Omnicell’s innovative medication adherence and population health solutions to improve patient engagement and adherence to prescriptions, helping to reduce costly hospital readmissions.
The Davis Polk corporate team included partner Michael Kaplan and associate Ariel Rivera. The Davis Polk equity derivatives team included partner Mark J. DiFiore, counsel Justin Michael, and associates Annie Li, Danielle Forni, Alex Yang and Ben Somogyi. Partner Michael Farber provided tax advice. Partner Frank J. Azzopardi provided intellectual property advice. All members of the Davis Polk team are based in the New York office.