Tag: John Rademacher

OVERLAND PARK, Kan. – WellSky Health and Option Care Health will launch CommonWell Health Alliance services in all 50 states in the second quarter of 2022 to help facilitate health information exchange.  Option Care Health will join CommonWell through WellSky I/O, accessible within WellSky’s electronic health record system.  “Option Care Health is a pioneer in the infusion therapy space and WellSky is proud to partner with them to further their interoperability initiatives,”...

BANNOCKBURN, Ill. – Option Care Health recorded its second straight quarter of “high-teens growth” for its chronic therapy portfolio and sees ongoing opportunity in the $100 billion market, says CEO John Rademacher.  “We did have some new therapies that were introduced that we continue to see traction on moving forward,” he said on a recent call to discuss the company’s third quarter earnings. “I think, as we have defined the market, it's $100...

BANNOCKBURN, Ill. – Option Care Health reported net revenue of $891.9 million and gross profit of $203 million for third quarter of 2021, compared to $781.6 million and $174.2 million, respectively, in the same quarter last year.  Net income was $35.5 million vs. $1.7 million. Adjusted EBITDA was $78 million vs. $59.2 million.  “The third quarter results reflect the dedication of the entire team and our ability to generate profitable growth and significant cash flow,”...

BANNOCKBURN, Ill. – With a tuck-in acquisition in the Southeast, a new state-of-the-art facility in Chicago and new therapies added to its chronic care portfolio, Option Care Health is laying the groundwork for sustainable growth, say company officials.  Option Care announced May 6 it had paid $18.5 million for Houston-based BioCureRx, a regional provider of certain chronic care therapies.  “While limited in size, the BioCure transaction signifies...

BANNOCKBURN, Ill. – Option Care Health reported revenue of $759.2 million for the first quarter of 2021, an increase of 7.6% compared to $705.4 million for the same period last year.   Gross profit was $165.5 million, or 21.8% of net revenue, and adjusted EBITDA was $52.2 million for the quarter.  “The Option Care Health team delivered solid financial results in the first quarter while continuing to lay the foundation for sustained growth,” said John Rademacher,...

BANNOCKBURN, Ill. – Option Care Health saw double-digit growth in revenues as the company took advantage of its technology platform to respond to the disruption caused by the COVID-19 pandemic, said CEO John Rademacher on a recent earnings call.  Option Care Health reported net revenues of $804.7 million for the fourth quarter of 2020, an increase of 11.6% compared to the same quarter in 2019.  “Our ability to quickly pivot and utilize our technology...

BANNOCKBURN, Ill. – Option Care Health reported net revenues of $804.7 million for the fourth quarter of 2020, an increase of 11.6% compared to the same quarter in 2019. Net revenues for the full year were about $3 billion, an increase of 31.3% compared to the full year 2019. Adjusted EBITDA for the quarter was $67.7 million, and $221.7 million for the full year, up 27.7% and 69.5%, respectively. “I am incredibly proud of the effort and execution by the Option Care Health team in...

BANNOCKBURN, Ill. - Option Care Health saw a decline in new patient referrals during the second quarter of 2020 due to COVID-19, but that was offset by growth in its chronic care business, says CEO John Rademacher.“Patient transfers onto service with us from other sites of care drove low double-digit growth in the second quarter,” said Rademacher during a conference call to discuss the company's recent financial results. “We continue to work with referral sources and payers to identify...

When the ink dries on the planned merger of two of the country's leading home infusion services providers, it will form an organization that is deeply committed to patient care, says John Rademacher, CEO of the combined company of Option Care and BioScrip.“At the center of both organizations is deep clinical expertise and a passion to deliver extraordinary care,” he told HME News in an email. “Together, we will form an organization that will create a rich environment and a destination...

BANNOCKBURN, Ill. - Option Care kicked off the new year with a new CEO, John Rademacher, who had previously served as interim CEO and COO. Rademacher, whose resume includes executive level roles at Cardinal Health and Cigna, says the home infusion sector is at an “interesting intersection between high quality and appropriate costs.”“Payers, health systems and pharmaceutical manufacturers are realizing that home infusion offers a real important service to patients,” he said.Rademacher...