Apria: Revenues grow faster for home infusion
LAKE FOREST, Calif. – Apria Healthcare in August reported net revenues of $607.7 million for the three months ended June 30, 2012, compared to $576.3 million for the same period last year. It reported net losses of $12.7 million vs. $9.4 million. Apria also reported net revenues of $1.2 billion for the six months ended June 30, 2012, compared to $1.1 billion for the same period last year. It reported net losses of $32.3 million vs. $30.5 million. Revenues for the second quarter and the first half of 2012 increased due to a boost in volume in the home infusion therapy segment and the RT/HME segment. Revenues for the first half of 2012 also increased due to the acquisition of Praxair assets in March 2011.
S&P calls Rotech weak
ORLANDO, Fla. – Fearing that Rotech Healthcare could default on its debt obligations within the next six months, Standard & Poor lowered its rating from a “B” to “CCC-” in August. “The ratings reflect Rotech’s ‘highly leveraged’ financial risk profile, dominated by its ‘weak’ liquidity position, high debt burden and overall sensitivity of credit metrics to the uncertain reimbursement environment,” stated S&P.
Home Health International: new name, new target
VERO BEACH, Fla. – Home Health International will significantly expand the DME side of its business, it announced in August. The company, a home health agency and DME provider, will broaden its offerings in the following product categories, according to a release: mobility aids, diabetes supplies, resident monitoring/fall alarms, diagnostics and therapy aids. Home Health International was incorporated in 2006.
Petersen Medical opens new location
ST. GEORGE, Utah – Petersen Medical hosted an open house in August to celebrate the opening of its new location here. The Orem, Utah-based provider has five other retail locations and several satellites in Utah and Colorado. Petersen Medical offers home medical and respiratory equipment, aids for daily living, orthotics and prosthetics, and mobility aids.
1st Class on the move
ENGLEWOOD, Colo. – Respiratory provider 1st Class Medical has moved into a new facility, it announced in August. The new location gives the provider more warehouse space and more space for its maintenance and repair department. “We are committed to our customers long after their concentrator has been shipped,” stated owner Cory Luckner in a release. 1st Class Medical also plans to begin creating instructional videos for patients, it stated.