Apria Chairman May Take Company Private

George L. Argyros, chairman and the largest individual shareholder of Apria Healthcare Inc., disclosed that he may lead an effort to buy the troubled home health care company and take it private. Argyros, who controls a 5.4% stake in the Costa Mesa-based company, has told some directors of his intentions and plans to explain his strategy today at the regular board meeting, sources said. The Orange County developer may join with other investors to seek control of Apria, according to documents filed with the Securities and Exchange Commission. Such a move might be led by Westar Capital, an Orange County investment firm in which Argyros holds the largest interest, sources said. Apria shares rose 19 cents to close at $8.63 on the New York Stock Exchange.