Apria Hires Andersen Veteran to Be Financial Chief

Apria Healthcare Group Inc. said Monday it hired veteran accountant John C. Maney as chief financial officer, filling a vacancy left by Lawrence Smallen, who resigned in June.

Maney will “play a significant role in returning Apria to profitability in the near future,” Apria Chief Executive Philip L. Carter said in a prepared statement. Neither Carter nor Maney could be reached for further comment.

Maney, 39, previously worked as a partner with the auditing division of Andersen Worldwide, the large Chicago-based financial consulting firm.

Apria announced Smallen’s resignation Jan. 20, the same day the struggling provider of home health care services reported that its 1998 financial results wouldn’t meet expectations. At the time, the company said Smallen would remain in the job until a replacement was found. But Smallen departed in June.

Recently, Apria management has moved to shed unprofitable businesses and cut staff.

For the third quarter, the company reported its revenue dropped 28% to $219.4 million from $304.4 million for the same period last year. It also took a $160-million charge for the recent period to clean up its financial books. Overall, it reported a third-quarter loss of $194.7 million, or $3.76 a share, compared with net income of $16.2 million, or 31 cents, a year ago.