Apria, which provides home healthcare equipment and services in the US, filed on Friday with the SEC to raise up to $100 million in an initial public offering. However, this is likely a placeholder for a deal we estimate could raise up to $800 million.
Backed by Blackstone, Apria is a provider of integrated home healthcare equipment and related services in the US, with products and services for in-home care and delivery across three core service lines: (1) home respiratory therapy (including home oxygen and non-invasive ventilation services); (2) obstructive sleep apnea ("OSA") treatment (including continuous positive airway pressure (“CPAP”) and bi-level positive airway pressure devices, and patient support services); and (3) negative pressure wound therapy (“NPWT”). In 2019, the company served nearly 2 million patients, made nearly 2.4 million deliveries, and conducted over 744,000 clinician interactions with patients.
The Indianapolis, IN-based company was founded in 1924 and booked $1.1 billion in sales for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol APR. Apria filed confidentially on August 7, 2020. Citi, Goldman Sachs, BofA Securities and J.P. Morgan are the joint bookrunners on the deal. No pricing terms were disclosed.
The article Home healthcare equipment provider Apria files for an estimated $800 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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