American HomePatient, Inc. (OTC:AHOM) has announced that it has entered into its seventh forbearance agreement with NexBank, SSB. NexBank is American Homepatient’s agent for its senior debt. American HomePatient currently owes NexBank $226 milion, due on August 1, 2009.
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American HomePatient President and Chief Executive Officer Joseph Furlong is confident that the company will reach a resolution towards the payment of the debt. Assurances on the specifics of the resolution are not able to be released as of yet. More information may be obtained by contacting Joseph Furlong at 615.221.8884.
American Homepatient, Inc. provides home healthcare services and products consisting primarily of respiratory therapy services, home infusion therapy services, and the rental and sale of home medical equipment and home health care supplies. The Company’s services and products are paid for primarily by Medicare, Medicaid, and other third-party payors. The Company provides services to patients primarily in the home through 242 centers in the states, including Alabama, Arizona, Arkansas, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Iowa, Kansas, Kentucky, Maine, Maryland, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Mexico, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Washington, West Virginia and Wisconsin. As of December 31, 2008 the Company was an investor in and a manager of 11 joint ventures.
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