LAKE FOREST, Calif., Nov. 15, 2007 (PRIME NEWSWIRE) -- Apria Healthcare Group Inc. (NYSE:AHG) today announced that due to adverse capital market conditions it has decided to withdraw its proposed offering of $265 million aggregate principle amount of senior subordinated notes. Apria had intended to use the net proceeds from the offering to pay a portion of the purchase price for its announced acquisition of Coram, Inc. After satisfaction of the closing conditions, Apria now anticipates closing the acquisition in early December using funds available under its $500 million revolving credit line.
Apria provides home healthcare products and services, including oxygen and respiratory equipment, home delivered respiratory medications, diabetic supplies and a broad range of home infusion therapies and medical equipment. With facilities in approximately 500 locations nationwide, Apria serves over 2 million patients annually throughout all 50 states. The Company is contracted with over 2,000 managed care organizations and serves patients covered by Medicare and Medicaid as well.
This release may contain statements regarding anticipated future developments that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Results may differ materially as a result of the risk factors included in the Company's filings with the Securities and Exchange Commission and other factors over which the Company has no control.