(Archived) Praxair Agrees to Sale of U.S. Homecare Business
DANBURY, Conn., February 2, 2011 — Praxair, Inc. (NYSE: PX) and Apria Healthcare, Inc., have entered into a definitive agreement by which Praxair will sell its U.S. homecare business to Apria. Terms of the agreement were not disclosed. The transaction is expected to close during the first quarter 2011, subject to satisfaction of customary terms and conditions.
A part of the company’s broader North American healthcare business, Praxair’s U.S. homecare business operates from 85 branch locations, providing home respiratory services and durable medical equipment to clients in their homes across 27 states and employs approximately 1,100 people.
“Given Apria’s broader and deeper capabilities in the U.S. homecare market, we believe Praxair’s U.S. customers will be well served by this acquisition,” said Scott Telesz, senior vice president of Praxair.
“We are looking forward to welcoming Praxair’s patients, employees and customers to Apria's home respiratory services division and expanding our branch footprint to serve customers nationwide,” said Norman C. Payson, MD, Apria’s chairman and chief executive officer.
Praxair will continue to supply the homecare market in other countries, and also will continue to expand its very successful institutional healthcare business worldwide.
Apria provides home respiratory therapy, home infusion therapy and home medical equipment services through approximately 500 locations in the United States. With over $2 billion in annual revenues, it is one of the nation’s leading home healthcare companies. For more information visit www.apria.com or www.coramhc.com.
Praxair, Inc. is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2010 sales of $10 billion. The company produces, sells and distributes atmospheric, process and specialty gases and high-performance surface coatings. Praxair products, services and technology bring productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, electronics, energy, food and beverage, healthcare, manufacturing, metals and others. More information on Praxair is available on the Internet at www.praxair.com.