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Apria Healthcare Group Inc. (NYSE: AHG), a home healthcare services company, has seen its shares plunge from $31.57 to $15.31 over the past year. But as of today, things got much brighter, as the shares spiked 26% to $20.

The Blackstone Group (NYSE: BX) has agreed to buy the company for $1.6 billion. Debt financing will come from Bank of America (NYSE: BAC), Wachovia (NYSE: WB) and Barclays Capital (NYSE: BCS).

Apria operates about 550 respiratory and infusion therapy facilities across the US and serves more than two million patients per year. For the latest quarter, Apria posted a 35.1% increase in revenues to $528 million (there was a nice boost from the Coram acquisition). Net income was $20.8 million.

However, Apria has had to deal with Medicare payment reductions. Although, as for Blackstone, this is something it can cope with since it will hold onto the company for a while and can restructure the Apria platform.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements. He also operates MergerBook.com.

Blackstone stikes a healthy $1.6 billion deal for Apria Healthcare originally appeared on BloggingStocks on Thu, 19 Jun 2008 10:13:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>ahgApria HealthcareApriaHealthcarebacbcsblackstonebxinthenewswbThu, 19 Jun 2008 10:13:00 EST<![CDATA[Analyst initiations: EQT, ALD and AHG]]>http://www.bloggingstocks.com/2008/04/17/analyst-initiations-eqt-ald-and-ahg/http://www.bloggingstocks.com/2008/04/17/analyst-initiations-eqt-ald-and-ahg/http://www.bloggingstocks.com/2008/04/17/analyst-initiations-eqt-ald-and-ahg/#commentsFiled under: ,

MOST NOTEWORTHY: Equitable Resources, Allied Capital and Apria Healthcare were today's noteworthy initiations:
  • RBC Capital is positive on Equitable Resources' (NYSE:EQT) Appalachian Basin exposure and valuation. Shares were started with an Outperform rating and $78 target.
  • Morgan Keegan views Allied Capital's (NYSE:ALD) valuation and outlook as attractive, starting shares with an Outperform rating.
    Credit Suisse assumed Apria Healthcare (NYSE:AHG) with a Neutral rating and $20 target, citing the challenging Medicare backdrop.
OTHER INITIATIONS:
  • Keefe Bruyette initiated Zions Bancorp (NASDAQ:ZION) with a Market Perform rating and $47 target.
  • Thomson Reuters (NASDAQ:TRIN) was started with a Sell rating at ABN Amro.
  • Canaccord Adams initiated Cyberonics (NASDAQ:CYBX) with a Buy rating and $20.50 target.

Analyst initiations: EQT, ALD and AHG originally appeared on BloggingStocks on Thu, 17 Apr 2008 11:19:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ahgaldallied capitalAlliedCapitalanalystapria healthcareApriaHealthcarecyberonicscybxeqtequitable resourcesEquitableResourcesinitiationinthenewsthomson reutersThomsonReuterstrinzionzionsThu, 17 Apr 2008 11:19:00 EST