Allied Healthcare Products Inc., which makes respiratory and home health as well as other medical supplies, has launched “strategic transformation” initiatives aimed at improving operational effectiveness, customer service and profitability.
To help facilitate that transformation, AHP is closing a senior secured credit facility agreement with Sterling Commercial Credit and is welcoming new leadership, as well. AHP’s board of directors has appointed Akash Amin as its president and chief restructuring officer and Mark Welch as its vice president and assistant chief restructuring officer. Amin and Welch, who are both from the financial and operational consulting firm Morris Anderson & Associates Ltd., have served as the company’s outside advisors for five months.
“Over the past several months in advisory roles, [Amin and Welch] have executed many initiatives to strengthen operations, improve cash flow, increase shipping efficiencies, and transform AHP into a more focused, growth-driven, sustainable business,” said John Weil, AHP’s chairman of the board. “We are confident that under their leadership, we can continue to advance those successes and realize the substantial opportunities for the future of AHP.”
While AHP has manufactured respiratory medical devices and other products used in medical facilities, emergency care vehicles and the home for more than 60 years, it has suffered some recent setbacks. The company reported that during the Covid-19 pandemic, it endured supply chain disruptions, a ransomware attack, an oversupply of ventilators in the market, and operational inefficiencies, that left it cash-strained enough that it had to take immediate action to address those challenges.
“I believe we have the potential to overcome our recent operational challenges and have not only the best products in the market but also the best team,” Amin said in a public statement. “It is my goal to intensify our focus on strengthening our operational performance to match the strong demand for our products, better fulfill orders and meet customer demands to position this company back on a path to profitability.”
