AHP Hangs Tough

Brentwood, Tenn.-based American Home Patient has entered its
seventh forbearance agreement with NexBank, SSB, the agent for its
senior debt. Under the agreement, lenders cannot take any action
against the company before Feb. 16 resulting from AHP’s default on
a $226 million promissory note, which was due to be repaid in full
on Aug. 1, 2009.

“We are confident a resolution will be reached that will allow
the company to continue providing the excellent care that our
patients have come to expect,” AHP President and CEO Joseph Furlong
said in a statement. “However,” he continued,
“discussions are ongoing and as a result we cannot provide any
assurances as to the specifics of any resolution.”