LAKE FOREST, Calif., Nov. 8, 2005 (PRIMEZONE) -- Apria Healthcare Group Inc. (NYSE:AHG), the nation's leading home healthcare company, today announced that it has repurchased approximately 7.3 million shares of its outstanding common stock pursuant to an accelerated share repurchase agreement with Citigroup. The transaction was effected on November 7, 2005, at a price per share of $23.83 for a total purchase price of $175 million. The repurchases are part of the company's previously announced $250 million share repurchase program.
The repurchased shares are subject to a future price adjustment to be determined based on the volume weighted average price of Apria common stock over a period of up to five months. The price adjustment will be reflected in the treasury stock line on Apria's balance sheet.
Apria provides home respiratory therapy, home infusion therapy and home medical equipment through more than 500 branches serving patients in 50 states. With $1.5 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.