Apria, which provides home healthcare equipment and services in the US, raised $150 million by offering 7.5 million shares (100% secondary) at $20, within the range of $19 to $21. At pricing, the company commands 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 plans to list on the Nasdaq under the symbol APR. Citi, Goldman Sachs, BofA Securities and J.P. Morgan acted as lead managers on the deal.
