Highland Capital Management Announces 100% Ownership of American HomePatient, Completes Successful Public to Private Transition For Leading Provider of Home Respiratory Therap...
DALLAS, Oct. 13 /PRNewswire/ -- Highland Capital Management, L.P. ("Highland"), a Dallas-based, SEC-registered investment adviser with approximately $22 billion of assets under management, announced today that American HomePatient, Inc. ("American HomePatient" or "the Company") -- which previously traded as (OTC Bulletin Board: AHOM) -- completed a public-to-private transaction and filed documents with the SEC to deregister its Common Stock, resulting in American HomePatient becoming 100% owned by a fund managed by Highland. This transaction is the culmination of a series of transactions, including (i) a self-tender of common shares by the Company and (ii) a restructuring of the Company's senior debt of $216 million led by Highland that were completed on September 2, 2010.
The American HomePatient transaction is a prime example of Highland's distressed investment strategy. As one of the world's largest investors in U.S. corporate debt, with an investment staff that monitors more than 2,000 companies across industries, Highland has a distinct ability to identify attractive investment opportunities designed to generate above-average returns over time.
Headquartered in Brentwood, Tennessee, American HomePatient is one of the nation's largest and most comprehensive respiratory and service providers to Medicare and Managed Care patients in 33 states. Founded in 1983, American HomePatient offers respiratory and infusion therapy, enteral and parenteral nutrition services, respiratory diagnostic equipment; patient home medical equipment and related supplies.
Under Highland's ownership, American HomePatient will benefit from access to the financial and strategic resources necessary to help the Company realize accelerated, profitable growth. Using a structured and proven approach to value creation, Highland will partner with