Option Care ‘builds momentum’ in Q3
By HME News Staff
Updated 9:38 AM CDT, Wed October 25, 2023
BANNOCKBURN, Ill. – Option Care reported net revenue of $1.09 billion for the third quarter of 2023, an increase of 7.1% year over year, and net income of $56.3 million, an increase of 45%.
Gross profit was $254.3 million, up 16.6%, and adjusted EBITDA was $109.8 million, up 28.2%.
“The Option Care Health team continues to execute on outstanding clinical outcomes and extraordinary patient care, which helped translate into solid financial results in the third quarter,” said CEO John Rademacher. “I am excited to build on this momentum as we close out the year and look forward to seeing the impact we believe the team will make in the post-acute and ambulatory setting in the years to come.”
For the full year 2023, Option Care Health expects to generate:
- Net revenue of $4.23 billion to $4.28 billion
- Adjusted EBITDA of $420 million to $425 million
- Cash flow from operations of at least $350 million, inclusive of the Amedisys merger termination fee net of merger-related expenses.
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