Apria Healthcare Sees Q1 Sees Net Loss, Despite Revenue Increase
Apria Healthcare Group Inc. (AHG) posted a net loss of $19.6 million for the three months ended March 31, despite an 11% increase in net revenue, the company announced Tuesday.
A provider of home healthcare services through 540 locations across the United States, Lake Forest, Calif.-based Apria reported net revenues during the quarter were $595.7 million, compared to $536.7 million in the three months ended March 31, 2011, an increase of $59.0 million or 11.0%. Revenue increased primarily due to increased volume in the home infusion therapy segment and the home respiratory therapy and home medical equipment segment, as well as the acquisition of Praxair assets in March 2011, the company said in a press release.
The company also reported a realignment of management including the promotion of Daniel Greenleaf to CEO of Coram, Inc., Apria’s subsidiary for the home infusion therapy segment. Additionally, Daniel Starck was named CEO of Apria Healthcare, Inc., the principal operating subsidiary for the home respiratory therapy/home medical equipment segment.
Norman Payson will continue to serve as Executive Chairman and Chief Executive Officer of the parent company, overseeing both operating segments, the company said.
Written by Elizabeth Ecker