Apria Healthcare Sees Q4 Revenues Climb 14%, Profits Down
Home health care provider Apria Healthcare Group (NYSE: AHG) last week announced an increase in net revenue, up $75.7 million in the fourth quarter of 2011, to $603.4 million, a 14.3% year-over-year increase from the fourth quarter of 2010. The company posted a net loss of $712.2 million during the quarter, however, attributable to non-cash impairment charges, the tax impact resulting from impairment charges and charges related to deferred tax valuation allowances.
Apria noted the fourth quarter revenue increase was due in large part to an rise in home infusion therapy revenue and the previously announced acquisition of Praxair assets, the company stated in a press release.
Additionally, the company announced management changes that will allow for independent management of different business channels. Those changes include the promotion of Daniel Greenleaf to the position of CEO for Coram, the principal operating subsidiary of the company’s home infusion therapy segment. In connection with the shift, Daniel Starck was also named CEO of Apria Healthcare, Inc., the principal operating subsidiary for the home respiratory therapy/home medical equipment segement of the company. Norman Payson will continue to serve as Chairman and CEP of the parent company, Apria reported.
Written by Elizabeth Ecker