Apria Drops Plans for Rights Offering

Apria Healthcare Group Inc. said it has withdrawn a planned $50-million rights offering and will obtain $50 million in new funding from its bank lenders instead.

The Costa Mesa-based company, which provides home health-care services, said its bank credit agreement was amended to allow the new funding.

The agreement also allows the company to proceed with plans for $62 million in acquisitions this year, Apria said.