Tag: Dan Starck

RICHMOND, Va. – Owens & Minor has kicked off an ambitious, companywide program to “right size” the business in the face of new market conditions, said company execs on a call to discuss its fourth quarter and full year 2022 earnings.  The move is expected to drive $30 million of adjusted operating income in 2023 and provide between $250 million and $400 million of working capital benefits by 2025, said Edward Pesicka, president and CEO.  “Look, we're not...

WASHINGTON – With a “massive” number of patients starting on home respiratory therapy during the COVID-19 pandemic, the Council for Quality Respiratory Care is renewing its call for a transition period to ensure those patients don’t lose access when the public health emergency ends on May 11, says the Council for Quality Respiratory Care.  While providers are ready to move past the pandemic, much of that readiness depends on any guidance CMS provides, especially for...

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 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...

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...

INDIANAPOLIS – Apria Healthcare saw a healthy rebound in its oxygen and sleep business in the second quarter, and that’s where the company will focus future growth efforts, said CEO Dan Starck on a recent earnings call.  “Our new patient starts on oxygen remained elevated above historical run rates and new sleep patient volumes ran above pre-pandemic levels, while ventilation and negative pressure wound therapy were at or near pre-pandemic levels,” said Starck, who...

INDIANAPOLIS – Apria Healthcare reported net revenue of $286.3 million for the second quarter of 2021, up 6.4% compared to the same quarter in 2020.  It reported net income of $20.6 million, up 153.1%. Adjusted EBITDA was $64.4 million, up 15.5%; and adjusted EBITDA less patient equipment capex was $44.1 million, up 2.2%.  “We delivered another strong quarter as our second quarter 2021 financial results were ahead of our expectations on all three of our key metrics, achieving...

INDIANAPOLIS – Apria is readying itself for a post-COVID world by embracing flexible working arrangements and leveraging telehealth to meet patients where they are, says CEO Dan Starck. While most of its patient-facing staff and operations remained working onsite throughout the pandemic and others who had transitioned to the home are slowly moving back to the office, the company is committed to a hybrid model going forward, he says. “The pandemic challenged all of us to rapidly...

INDIANAPOLIS – Apria Healthcare reported that revenue for home respiratory therapy was up 8% in the fourth quarter of 2020, largely driven by an increase in demand for COVID-19 patients, company execs said on a recent earnings call.  New oxygen setups increased 77% during the fourth quarter of 2020, compared to the same quarter in 2019.   “The fourth quarter of 2020 was a record quarter for Apria,” said CFO Debra Morris. “While...

INDIANAPOLIS – Apria Healthcare reported net revenue of $293.8 million for the fourth quarter of 2020, an increase of 5% compared the same quarter in 2019.  Net revenue for the full year was $1.11 billion, up 2% compared to 2019.  “We made great strides during 2020, creating significant efficiencies throughout the organization, and we closed out the year with solid financial results ahead of our expectations,” said Dan Starck, CEO. “Despite the challenges presented...