BioScrip sells home health business

Monday, February 3, 2014

ELMSFORD, N.Y. – BioScrip plans to sell its home health business, Deaconess HomeCare, to LHC Group for $60 million in cash, the company announced Feb. 3. BioScrip will turn its focus to its home infusion platform and use proceeds from the sale to pay down debt, according to a release. “This transaction will enhance BioScrip's financial flexibility to further benefit from the scale we built through our three recent infusion acquisitions, which have collectively deepened our strong clinical capabilities and customer relationships and provided us with a solid foundation from which to grow,” said Rick Smith, president and CEO. BioScrip picked up infusion providers InfuScience in 2012, and HomeChoice Partners and CarePoint Partners in 2013.