LAKE FOREST, Calif., May 13, 2008 (PRIME NEWSWIRE) -- Apria Healthcare Group Inc. (NYSE:AHG) announced that it has signed a preferred provider agreement with Smith & Nephew (LSE:SN) (NYSE:SNN) to provide Negative Pressure Wound Therapy (NPWT) services and products to the United States homecare market. The preferred provider agreement covers the rental of Smith & Nephew's EZCARE(tm) and V1STA(tm) product systems and sale of associated disposables for the treatment of complex wounds.
A technology used to treat chronic wounds such as diabetic ulcers and pressure ulcers, as well as post-operative and hard-to-heal wounds, NPWT aids in the healing of open wounds by the application of sub-atmospheric pressure. A wide range of chronic and acute conditions - including diabetes, orthopedic surgery and reconstructive surgery -- may lead to wounds which require more advanced intervention than traditional wound care treatments, and home NPWT offers an alternative to more expensive sites of care.
"This relationship further builds on our strategy of diversifying our service offering by adding complementary product lines that fit well with our core competencies," said Lawrence M. Higby, Chief Executive Officer. "Negative Pressure Wound Therapy is a natural strategic expansion service line for Apria Healthcare. Key differentiators for us are our national branch service network and strong relationships with Medicare certified home health agencies, experience in providing high-tech home infusion therapy and home medical equipment services to patients with the same medical conditions as those who require NPWT."
As part of Medicare's competitive bidding program, Apria was awarded contracts to provide NPWT to beneficiaries in seven of the nine domestic markets included in the first phase. The Company will also offer NPWT services throughout the United States to patients covered by Medicare and managed care plans.
"We believe that our partnership with Smith & Nephew to provide a full NPWT product portfolio will give patients and providers an alternative to traditional sources of the therapy, enable us to serve the expanding homecare market for NPWT and offer customers efficient access to this advanced technology," said Mr. Higby.
Apria provides home infusion therapy, home respiratory therapy and home medical equipment through approximately 550 locations serving patients in all 50 states. With over $1.6 billion in annual net revenues -- $2.1 billion if the operations of Coram, Inc. (acquired by Apria in December 2007) were included for the full year -- Apria is the nation's leading home healthcare company. For more information, visit www.apria.com or www.coramhc.com.
Smith & Nephew is a global medical technology business, specializing in Orthopedic Reconstruction, Orthopedic Trauma and Clinical Therapies, Endoscopy and Advanced Wound Management products. Smith & Nephew is a global leader in arthroscopy and advanced wound management and is one of the leading global orthopedics companies. The Company operates in 32 countries around the world. Annual sales in 2007 were $3.4 billion. For further information, visit www.smith-nephew.com
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.