AHP puts up for sale sign
BRENTWOOD, Tenn. - American HomePatient stated a "willingness to consider" an acquisition by any party, including Highland Capital Management, in a letter dated March 6.
At press time, AHP was reviewing and assessing Highland's offer to buy the company. To help it do that, AHP has retained UBS Securities as its financial adviser.
"While we remain focused on executing our operating strategy for the company, our board of directors has been and continues to be willing to consider alternative strategies to enhance stockholder value," stated Joe Furlong, CEO of AHP.
AHP's not the first company to open its door to possible suitors. Apria stuck out a for sale sign last summer (See HME News July 2005). The company took itself off the market by the end of 2005, however, because the price was never right.
At 265 centers in 34 states, AHP provides oxygen and infusion therapy, parenteral and enteral nutrition and medical equipment to patients in their homes.