Apria Reports Annual Profit
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Indianapolis-based Apria Inc. (Nasdaq: APR) is reporting full-year net income of $65 million last year, up from $46.1 million in 2020. Chief Executive Officer Dan Starck says despite the COVID-19 pandemic and supply chain challenges, 2021 was a banner year for Apria.
The company is also reporting fourth quarter net income of $17 million, down from $26 million during the same period in 2020.
“Our team did an excellent job operating and executing at a high level while navigating the challenges from the COVID-19 pandemic, as well as a major product recall and supply chain constraints,” said Starck. “During the fourth quarter, we continued to be impacted by the Philips recall and the supply chain disruption which slowed new sleep patient starts and new ventilation patient starts in the quarter. That said, we continue to see strong demand for CPAP and ventilation, and we expect demand will remain strong for the foreseeable future. “
Earlier this year, Virginia-based Owens & Minor Inc. (NYSE: OMI) entered into a definitive agreement to acquire Apria. The $1.6 billion deal is expected to close during the first half of this year.
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