Homedco, Abbey Become Biggest Home Health Firm
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Shareholders of Homedco Group Inc. and Abbey Healthcare Group Inc. Tuesday approved the merger of the two Orange County firms, creating the nation’s largest home health company. The newly combined company will be named Apria Healthcare Group Inc.
Under terms of the merger, which takes effect today, each share of Homedco stock will be exchanged for two shares of Apria, while each Abbey share will be converted into 1.4 shares of Apria.
The combined company will have sales this year of a little more than $1 billion. Its headquarters will be at Abbey’s corporate offices in Costa Mesa. Homedco has been based in Fountain Valley. The new company’s stock will begin trading over-the-counter Thursday under the symbol APRA.
Apria Healthcare will provide home infusion, respiratory therapy, home medical equipment, women’s health care, nursing services and coordinated care through 350 branches in 48 states.
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