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Summary: Apria Healthcare Group Inc. Feb 12
Standard & Poors, Feb 2012
Abstract
Standard & Poor's Ratings Services' rating on Lake Forest, Calif.-based Apria Healthcare Group Inc. reflects the company's 'aggressive' financial risk profile (as we define the term) as a sponsor-owned company. The rating also considers Apria's exposure to third-party reimbursement and an uncertain pricing environment. While we believe Apria has a 'weak' business risk profile, bolstered by its leading position in providing specialized home health care services and equipment, its struggles with managing working capital and efforts to take back in-house billing functions is a factor in our negative outlook. Despite the Praxair home health acquisition, which aided Apria's double-digit revenue growth, it still faces operational challenges. Apria's failed outsourcing of its customer service and billing functions resulted in higher customer...
Companies mentioned in this report are: Apria Healthcare Group Inc.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
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