Apria Healthcare Group Inc. Announces Transition of Chief Financial Officer;
Appoints Successor Principal Financial Officer
LAKE FOREST, Calif., Dec. 28, 2012 (GLOBE NEWSWIRE) -- Apria Healthcare Group
Inc. (AHG), the holding company of Apria Healthcare, Inc. and Coram LLC, today
announced that Chris A. Karkenny will depart the Company and transition his
holding company responsibilities to Peter A. Reynolds, the Company's Chief
Accounting Officer and Controller, who will also become the Company's
principal financial officer as of January 1, 2013, following Mr. Karkenny's
departure on December 31, 2012.
Mr. Reynolds, who will report directly to AHG Chief Executive Officer and
Chairman of the Board John G. Figueroa, has over 25 years of healthcare
experience and has served Apria since 2007 when he joined the Company as Chief
Accounting Officer and Controller. Mr. Karkenny will continue to be available
to the Company during a transition period.
The transition is associated with the Company's previously-announced strategy
of operating AHG's two business units more autonomously with dedicated
Finance/Accounting and other formerly shared services supporting each
Commenting on the announcement, Blackstone Senior Managing Director and Apria
Board Member Neil Simpkins said, "Chris' strategic insight has been invaluable
during his tenure with the Company. He led the overall merger and acquisition
efforts, which resulted in the successful 2007 and 2011 acquisitions and
integration of Coram and Praxair Healthcare Services, respectively--two
leading competitors which greatly expanded Apria's national footprint in its
two core homecare segments. Together with Mr. Reynolds, he also expanded
Apria's internal audit and Sarbanes-Oxley compliance functions for accounting
and information technology security systems.On behalf of the Apria Board of
Directors, I want to thank Chris for his numerous contributions to the Company
over the past six years and wish him every success in the future."
About Apria Healthcare Group Inc.
AHG is the holding company for Apria Healthcare, Inc. and Coram LLC, which are
among the nation's largest and leading home respiratory/home medical equipment
and specialty home infusion therapy providers.Collectively, the two business
units provide home infusion therapy, enteral nutrition, home respiratory
therapy and home medical equipment through approximately 550 locations serving
patients in all 50 states.With over $2.3 billion in annual net revenues, AHG
is one of the nation's leading home healthcare companies. For more
information, visit www.apria.com or www.coramhc.com.
About The Blackstone Group
Blackstone (NYSE: BX) is one of the world's leading investment and advisory
firms. Blackstone seeks to create positive economic impact and long-term value
for its investors, the companies it invests in, the companies it advises and
the broader global economy. The firm accomplishes this through the commitment
of its extraordinary people and flexible capital. Blackstone's alternative
asset management businesses include the management of corporate private equity
funds, real estate funds, hedge funds, funds of funds, debt funds,
collateralized loan obligation vehicles (CLOs) and closed-end mutual funds.
The Blackstone Group also provides various financial advisory services,
including mergers and acquisitions advisory, restructuring and reorganization
advisory and fund placement services. Further information is available at
CONTACT: Peter A. Reynolds
Chief Accounting Officer
Lisa M. Getson
Executive Vice President
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