BioScrip buys CarePoint Partners
ELMSFORD, N.Y. – BioScrip has agreed to acquire CarePoint Partners for $223 million, bringing together two of the major players in home infusion therapy, according to a press release. The deal will also see BioScrip reap an estimated $45 million future tax benefit as a result of the transaction. CarePoint Partners, founded in 2008 in Cincinnati, services 20,500 patients annually, has 28 sites of service in nine states, and is expected to generate approximately $160 million in annual revenue, the release noted. “This transaction is a significant milestone for BioScrip,” stated Rick Smith, president and CEO. “It meets our stated goal of expanding our infusion business through strategic acquisitions to build scale in a highly fragmented industry.” The deal, which is subject to certain adjustments, is expected to close in the third quarter of 2013.