AHP moves ahead in Chapter 11
By HME News Staff
Updated Fri February 28, 2003
BRENTWOOD, Tenn. - American HomePatient, which entered Chapter 11 bankruptcy last summer, is scheduled to present its reorganization plan to the court next month and still intends to pay back creditors 100%, said CEO Joseph Furlong. Filing for Chapter 11, allowed AHP to continue its day-to-day operations and develop a plan to reorganize its $275 million debt. The company's plan calls for paying the debt off over six years. The expanded time frame will free up more cash for growth and paying down the debt's principal. HME
American HomePatients 10 largest unsecured creditor are:
1. Invacare, $2.8 million
2. Respironics: $2.4 million
3. ResMed: $890,000
4. Ross Products: $631,000
5. Invacare Supply Group: $623,000
6. Mallinckrodt: $617,000
7. Metronic MiniMed: $279,000
8. Amerisource: $260,000
9. Kendall Healthcare: $245,000
10. Mada Medical: $235,000
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