Tag: Apria

Well, 2022 is certainly starting off with a bang. The first rumblings that big things are going to happen this year was an announcement on Jan. 6 by Stryker that it plans to acquire Vocera Communications. This does not have a direct impact on the HME industry, per se, but it does speak to large players in mostly the acute care space getting more serious about extending their reach beyond hospitals. Stryker said Vocera brings a portfolio of products to address “the increasing need for...

RICHMOND, Va., and INDIANAPOLIS – Owens & Minor, which owns Byram Healthcare, says it will buy Apria for $37.50 in cash per share of common stock, representing an equity value of about $1.45 billion.  This price per share represents a 26% and 24% premium over Apria’s closing share price on January 7, 2022, and 30-day volume weighted average price, respectively.  “The combination of two complementary businesses in Byram Healthcare and Apria will enable us to better...

INDIANAPOLIS – Apria Healthcare reported net revenue of $287.2 million for the third quarter of 2021, up 3.8% compared to $276.8 million one year ago. For the quarter, net income was $22.8 million, up 300.1% from $5.7 million; adjusted EBITDA was $61 million and adjusted EBITDA less patient equipment capex of $38.9 million. “We continue to see strong new patient volume for oxygen driven by the Delta variant which we expect to remain at elevated levels compared to historical run...

WASHINGTON – AAHomecare kicked off the busy fall legislative session with its first-ever Virtual Legislative Conference last week and a sign-on letter pressing CMS to finalize a DMEPOS proposed rule that would adjust payment rates.  The letter, spearheaded by Reps. Cathy McMorris Rodgers, R-Wash., a ranking member on the House Energy & Commerce Committee, and Paul Tonko, D-N.Y., is the first in a two-step process to get relief for the industry, says Jay Witter.  “We’ve...

INDIANAPOLIS – The founding investors behind DMEscripts believe their unique alliance will make a big difference in selling referral sources on e-prescribing, an obstacle to adoption so far.  Apria Healthcare, Lincare, AdaptHealth and Rotech Healthcare, along with AAHomecare and VGM & Associates, launched DMEscripts, an industry backed e-prescribing platform that’s open to any provider, in September.  “That’s the thesis under the whole thing,” said Dan...

SAN DIEGO – ResMed reported revenue increased 14% to $876.1 million for the fourth quarter of 2021 compared to the same period last year. Net income was $195.1 million vs. $177.8 million.  The company reported revenue increased 8% to $3.2 billion for fiscal year 2021 compared to the previous year. Net income was $474.5 million vs. $621.7 million.  “Our fourth quarter and full-year fiscal year 2021 results continue to demonstrate the strength and resiliency of our business,”...

NORTHFIELD, Ill. – Medline Industries has entered into an agreement to receive a majority investment from a group of private equity firms, including Blackstone, Carlyle Group and Hellman & Friedman, worth a reported $30-plus billion.  Medline, which generated revenues of $17.5 billion in 2020, will use the new resources from the partnership to expand its product offerings, accelerate international expansion and continue to make new infrastructure investments to strengthen its global...

Apria has announced a price to the public of $27 per share for a previously announced secondary offering of 4.5 million shares of common stock by a selling stockholder affiliated with Blackstone. The selling stockholder has also granted the underwriters a 30-day option to purchase up to 675,000 additional shares of common stock. The offering is expected to close on June 14, 2021, subject to customary closing conditions…Option Care Health has announced that an affiliate of Madison Dearborn...

INDIANAPOLIS – Apria reported net revenue of $275.3 million for the first quarter of 2021, a 2% increase compared to the same period last year.  It reported a net income of $4.5 million, a 29% decrease.  “We delivered strong first quarter 2021 results ahead of our expectations on all three of our key metrics and we built on momentum from 2020 establishing a solid foundation for future growth,” said Dan Starck, CEO. “The country experienced a significant surge...

WASHINGTON – CMS has established a higher rate of $750 to administer monoclonal antibody treatment to Medicare beneficiaries with COVID-19 in their homes, including permanent residences or temporary lodgings.  The new rate accounts for the increased costs associated with the one-on-one nature of this care model and reflects additional information provided to CMS about providing these services in a safe and timely manner.  “CMS’s decision to increase reimbursement...