S&P puts Apria Healthcare on positive watch

Standard & Poor's said it placed its ratings on Apria Healthcare Group Inc. on CreditWatch with positive implications.

Apria announced that the company intends to sell its Coram home infusion therapy business to CVS Caremark for $2.1 billion. Apria's home infusion therapy business generates more than 50% of the company's $2 billion in annual revenue.

"Following the completion of the sale, Apria will remain a leading player in its respiratory home medical equipment and negative wound pressure businesses," said S&P credit analyst Tahira Wright in a news release. "We expect the company to use the cash proceeds from the sale to extinguish all outstanding debt. We expect the company's long-term plan will include expansion through acquisitions."

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