Apria, which provides home healthcare equipment and services in the US, announced terms for its IPO on Wednesday.
The Indianapolis, IN-based company plans to raise $150 million by offering 7.5 million shares (100% secondary) at a price range of $19 to $21. At the midpoint of the proposed range, Apria would command a fully diluted market value of $756 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: home respiratory therapy (including home oxygen and non-invasive ventilation services); obstructive sleep apnea (OSA) treatment (including CPAP and bi-level positive airway pressure devices, and patient support services); and negative pressure wound therapy. In 2019, the company served nearly 2 million patients, made nearly 2.4 million deliveries, and conducted over 744,000 clinician interactions with patients.
Apria 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. Citi, Goldman Sachs, BofA Securities and J.P. Morgan are the joint bookrunners on the deal. It is expected to price during the week of February 8, 2021.
