Home-healthcare services and products provider Apria Healthcare Group, Lake Forest, Calif., withdrew its proposed offering of $265 million in notes due to adverse capital market conditions. The net proceeds were to have been used to pay a portion of the $350 million cash price for its acquisition of Denver-based Coram, a privately held provider of home-infusion and specialty pharmaceutical services.
Instead, Apria said it plans to use funds available under its $500 million revolving credit line after satisfaction of the closing conditions. It now anticipates closing the sale in early December. The deal was announced in October as a transformative event for Apria that would expand its service offering by creating the leading national home-infusion provider. The two companies care for more than 100,000 patients and together are licensed in all 50 states. -- by Cinda Becker
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