Tag: Apria Healthcare

RICHMOND, Va. – The fast growth of Owens & Minor’s patient direct platform, which posted 25% revenue growth during the first quarter of 2022, is an indicator of the company’s strength in the home health market, company officials said during a recent earnings call.  And officials expect to see that double-digit growth rate continue for the platform, which is comprised of Byram Healthcare and the newly acquired Apria Healthcare.  “It's a $50 billion market...

RICHMOND, Va. – Owens & Minor reported net revenues of nearly $273 million for its patient direct segment for the first quarter of 2022, a 25.7% increase compared to the same period last year, boosted by its acquisition of Apria Healthcare, which it finalized March 29.  Excluding Apria, revenue for the patient direct segment increased 20.7%, marking Byram's strongest quarter of growth in the past two years.  "The first quarter of 2022 marked an important milestone –...

INDIANAPOLIS – Apria Healthcare has reported net revenue of $296.5 million for the fourth quarter of 2021, up 0.9% compared to the same period in 2020. Net income was $17 million vs. $25.9 million, down 34.5%.  The company reported net revenue of $1.15 billion for the full year 2021, up 3.3% compared to full year 2020. Net income was $64.9 million vs. $46.1 million, up 40.6%.  “We reported solid fourth quarter financial results and 2021 was a good year for Apria,”...

YARMOUTH, Maine – Owens & Minor’s anticipated acquisition of Apria Healthcare, announced earlier this month, follows the playbook of a deal generating synergies between buyer and “buyee,” but the companies have their work cut out for them, says Dexter Braff, president of the Braff Group.  “You’ve got two mammoth organization trying to find a way to work with one another to optimize these and leverage those opportunities,” he said. “It’s...

RICHMOND, Va. – Owens & Minor on Jan. 18 marked 140 years in business.   Founded by Otho O. Owens and George Gilmer Minor, II, as a pharmaceutical wholesale and retail company, the Owens & Minor Drug Company operated on Main Street in downtown Richmond, setting its sights on the untapped market share of rural and small-town pharmacists who needed supplies. Today, it is a global Fortune 500 company with 15,000 employees.  "Today we celebrate all that Owens & Minor has accomplished...

RICHMOND, Va., and INDIANAPOLIS – The combination of Byram Healthcare and Apria will create a platform for Owens & Minor to expand in the fast-growing home health care market, says Edward Pesicka, its president and CEO.  Byram’s portfolio is comprised of diabetes, ostomy, incontinence and wound care supplies, while Apria’s is comprised of home respiratory, sleep apnea, negative pressure wound therapy and traditional HME products.  “That creates an opportunity...

INDIANAPOLIS – As Apria looks to the end of the year, the availability of CPAP devices is a “wild card,” says CEO Dan Starck.  “We saw a sustained increase in incoming volume through Q3 and continue to see it in October and November,” he said on a call to discuss the company’s most recent financial results. “If we could get our hands on more equipment, we’d have much more growth in the quarter from a sleep standpoint.”  Apria’s...

INDIANAPOLIS – Apria has named Christopher G. Lee to the newly created position of chief accounting officer. Lee has 18 years of accounting and financial leadership experience, most recently as senior vice president of accounting and finance at Apria. Prior to joining Apria in 2009, Lee was with Deloitte & Touche. “As a longtime Apria employee, Chris Lee is woven into the fabric of the company both professionally and personally, and we are incredibly grateful for his contributions over...

INDIANAPOLIS – A group of investors that includes AAHomecare, VGM & Associates, AdaptHealth, Apria Healthcare, Lincare and Rotech Healthcare have aligned to form DMEscripts, an independent e-prescribe company.  DMEscripts will use proprietary e-prescribe software to operate an open network for any DME supplier to join at no cost to prescribers and patients, the group says.  “I am thrilled at the collective energy of fellow industry leaders in embracing this digital transformation,...

As the COVID-19 pandemic began to take hold in early 2020, Apria, like most other companies, had no idea what to expect, says CEO Dan Starck.  “It’s been an interesting 17 months,” he said. “We’re still observing all things related to good practice, PPE, contactless delivery. We’re contemplating bringing people back at some point, but that’s the exception right now.”  Starck spoke with HME News recently, reflecting on lessons learned...