In today’s healthcare landscape, companies come and go, and mergers and acquisitions are almost a daily occurrence – thanks to how dynamic the industry has become. Amid these shifts, it’s not uncommon for patients and stakeholders to question the longevity and stability of the firms that they rely on.
One such company that has recently been at the heart of speculation and discussions is Apria Healthcare. Many are asking the pressing question: “Is Apria Healthcare going out of business?”
There was acquisition news recently about this company. So, it’s normal for people to get concerned about its future. But is Apria Health going out of business, really? Just keep reading to find answers to your questions about this leading healthcare brand.
Is Apria Healthcare Going Out of Business?
As of the current information available, Apria Healthcare is not shutting down or going out of business. While there have been recent changes, which we’ll discuss below, the company continues to operate and serve its extensive client base.
Apria remains a significant player in the medical equipment industry, especially in the realm of home health. The company has undergone various transformations, but these shifts have not signaled the end of its operations.
There are no official statements from the company concerning this, and nothing significant is pointing to the fact that Apria Healthcare may be shutting down soon. So, is Apria Healthcare going out of business? The answer presently remains no!
What is Apria Healthcare About – Let’s Take a Closer Look
Apria Healthcare, with its origins tracing back to 1995, arose from the merger of two healthcare giants, Abbey Healthcare and Homedco. This $1 billion union formed one of the industry’s most substantial entities, serving numerous patients across the United States.
Fast forward to today, Apria Healthcare stands tall as a leading respiratory services provider and a prominent supplier of home medical equipment. Almost two million people in the U.S. rely on the services and products provided by Apria.
Recently, there have been significant developments surrounding the company. Notably, its acquisition and previous ownership by Blackstone Group, a New York-based investment company, which bought Apria in 2008 for $1.6 billion, taking it private. Even after Apria went public, Blackstone remained one of its most significant stockholders.
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Data Breach at Apria Healthcare Affects 2 Million Customers
In an age where data is gold, Apria Healthcare faced challenges when it announced a significant data breach affecting nearly 2 million of its customers. This breach occurred between April 5, 2019, and October 10, 2021. It was unauthorized access to the company’s computer systems.
Interestingly, Apria’s initial discovery of the breach came from an external message, warning of illegal system access. While the culprits’ intent seemed more financially driven, aiming at Apria’s assets rather than patients’ data, the breach’s extent was alarming.
Diverse information, ranging from personal details and health records to financial data and even social security numbers, were potentially compromised.
Apria responded by launching a thorough investigation, notifying the affected parties, and involving the police. They also placed an advisory on their website, keeping their customer base informed.
Although, to some extent, the breach left a toll on Apria’s reputation, it has nothing to do with why people are presently asking, ‘Is Apria Healthcare going out of business? It was an event that happened many years ago, and the brand already recovered from it.
Who Bought Apria Healthcare?
The major headline recently has been the acquisition of Apria Healthcare by Owens & Minor, Inc. In a deal finalized for roughly $1.6 billion, this union has resonated throughout the industry. Owens & Minor, a renowned global healthcare solutions provider, seeks to complement its existing Byram Healthcare business with this acquisition.
The goal is simple: enhance the experience for patients, providers, and payors. By combining forces, they aim to expand their product and service offerings, covering a broader range of chronic and non-chronic conditions.
The amalgamation of Apria with Owens & Minor’s Byram Healthcare is set to form a new segment titled “Patient Direct.” Daniel J. Starck, Apria’s CEO since 2015, is now the one overseeing this new segment’s activities at Owens & Minor.
What Does This Acquisition Mean for Apria Healthcare’s Patients?
For Apria’s patients, this acquisition signifies a potential upgrade in services and product offerings. With Owens & Minor’s robust infrastructure, patients can anticipate enhanced support, especially as healthcare transitions more into home settings.
However, the immediate operational activities remain unchanged. Both companies have stressed that until the full integration is realized, they’ll function as independent entities. For Apria’s employees, particularly those in Indianapolis, the acquisition’s implications on their job locations are still yet to be obvious.
Is Apria Healthcare Going Out of Business in the Future?
Despite the acquisition, it’s essential to understand that Apria Healthcare isn’t going out of business. While the landscape might change and evolve, the core services and products that many have come to rely on remain intact.
But will the company be going out of business in the future? That is one thing we cannot accurately say. Following this acquisition, Apria Healthcare will tend to be stronger and more innovative. Judging by that, it is less likely that they will be going out of business soon!
Is Apria Healthcare Going Out of Business – Final Note
Of course, if you have heard anything about Apria Healthcare going out of business, then you should discard that because the company isn’t leaving the market just yet.
Though recent times have seen significant developments, including acquisitions and data breaches, the company’s core commitment to its clients remains unwavering. As Apria blends with Owens & Minor, we can only anticipate enhanced services, bridging the hospital-to-home gap more seamlessly.
FAQs
Is Apria Healthcare still in business?
Yes, Apria Healthcare is still in business. While there have been some ups and downs lately about the company, such as its acquisition by Owens & Minor, Inc., it remains operational and continues to serve its customers in the healthcare sector.
What companies are similar to Apria?
Apria Healthcare has several competitors in the industry that offer similar services. Some of the notable ones include Liberator Medical Supply, Inogen, ApolloMed, and Lincare. These companies, like Apria, provide a range of medical equipment and healthcare solutions to patients.
How long has Apria been around?
Apria was formed in 1995, following the merger of two companies, Abbey Healthcare and Homedco. This merger, which was worth $1 billion, led to the establishment of Apria as one of the industry’s major players. That means Apria has been serving its customers for nearly three decades.
Does Blackstone still own Apria?
Before going public, Apria was indeed owned by Blackstone Group, a New York-based investment company. Blackstone had acquired Apria for $1.6 billion in 2008 and took it private. However, after Apria went public, Blackstone is no longer the sole owner, but it remains one of the largest holders of Apria stock.
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