LAKE FOREST, Calif., June 7, 2005 (PRIMEZONE) -- Apria Healthcare Group Inc. (NYSE:AHG) issued the following statement in response to an article appearing in today's New York Post concerning its consideration of potential acquisition opportunities.
In recent months, Apria has received expressions of interest from a variety of persons concerning the possibility of an acquisition of Apria's outstanding equity, and Apria is aware of market speculation concerning the possibility of such a transaction. Pursuant to the Board of Directors' commitment to diligently consider alternatives to maximize shareholder value, the Board has engaged Morgan Stanley, on behalf of Apria, to contact a number of potentially interested parties and offer them an opportunity to review non-public information concerning the Company. If, after such review, one or more of such persons indicates an interest in proceeding with an acquisition at an attractive price level the directors will consider the possibility of entering into such a transaction.
Apria cautioned that there is no assurance that this process will lead to an acquisition transaction. David L. Goldsmith, Chairman of the Board, stated, "The Company is in strong financial condition, has an excellent management team and considers its prospects to be very good. Accordingly, no decision has been made to proceed with a sale and the Board of Directors may conclude that shareholder interests are best served by remaining an independent, publicly owned company."
Apria provides home respiratory therapy, home infusion therapy and home medical equipment through more than 475 branches serving patients in 50 states. With over $1.4 billion in annual revenues, it is the nation's leading homecare company.
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.