Apria will no longer file with the SEC

Wednesday, January 22, 2014

LAKE FOREST, Calif. – Apria Healthcare will no longer file reports with the Securities and Exchange Commission (SEC), according to a Form-8K dated Jan. 21.

Apria was obligated to file periodic reports with the SEC pursuant to the terms of indenture governing the company’s outstanding 12.375% senior secured notes due 2014. On Jan. 16, however, the company provided a notice of redemption for all of its notes and effected a satisfaction and discharge of the company’s obligation under the indenture.

“As a result, the company is no longer obligated to and will not voluntarily file reports with the SEC,” the form states.

In April 2013, Apria announced that it had obtained a term loan credit facility of $900 million and had issued notices of redemption for $700 million of its outstanding 11.25% senior secured notes (series A-1) and $160 million of its outstanding 12.375% senior secured notes (series A-2), both due in 2014.

In November, Apria further reduced its debt when it sold its home infusion business, Coram, to CVS Caremark for $2.1 billion. In its most recent earnings call on Nov. 12, Apria reported net revenues of $607.2 million for the third quarter ended Sept. 30, 2013, a decreases of $1.3 million from the same quarter in 2012. The company blamed the decrease on the reimbursement cuts that took effect July 1, 2013, as part of Round 2 of competitive bidding.