Apria Reports Record Acquisitions
Lake Forest, Calif.
Apria Healthcare has acquired 26 businesses so far this year, closing six acquisitions during the third quarter alone, according to the company's third-quarter earnings summary released last month.
“In fact, during the second and third quarters, we had an unprecedented 19 acquisitions totaling $104 million, representing 75 percent more business than we acquired in the comparable period of 2003,” said Apria CEO Lawrence Higby.
The acquisition activity, he explained, is “a good long-term move strategically” but had some short-term impacts, including increased labor costs and increased days sales outstanding (DSO) resulting from delays in billing Medicare while awaiting new provider numbers for the acquired locations.
Option Care, Broadlane Team Up
Buffalo Grove, Ill.
Option Care has partnered with San Francisco-based Broadlane to deliver outsourced contracting and procurement services under a three-year agreement. Broadlane will negotiate and manage Option Care's supply and service contracts. The national provider also will use Broadlane's Procurement Services, a technology-based business process management service that targets components in the procure-to-payment cycle.
