Tag: Option Care Health
Option Care expects double-digit growth in Q3
October 20, 2021HME News Staff
BANNOCKBURN, Ill. – Option Care Health has released preliminary financial results for the third quarter ending Sept. 30, including net revenue of about $888 million to $893 million, representing 14% growth compared to the same period last year. The company expects net income of about $33 million to $36 million. Option Care also expects to report adjusted EBITDA of about $76 million to $79 million, representing 28% to 34% growth; cash flow from operations of about $50 million to $52 million;...
Option Care Health announces stock offering
September 8, 2021HME News Staff
BANNOCKBURN, Ill. – Option Care Health announced that an affiliate of Madison Dearborn Partners, the selling stockholder, has agreed to sell 9.2 million shares of the company’s common stock at $26.90 per share in an underwritten public offering. This sale of shares represents approximately 5.1% of the current shares outstanding. Consistent with the August 2021 secondary offering, Madison Dearborn Partners and Walgreen Co., a wholly owned subsidiary of Walgreens Boots Alliance, Inc., have...
Option Care Health has ‘momentum’ going into second half of 2021
August 3, 2021HME News Staff
BANNOCKBURN, Ill. – Option Care Health reported net revenue of $860.3 million for the second quarter of 2021, up 16.1% compared to $740.8 million in the second quarter of 2020.
Gross profit was $199 million, or 23.1% of net revenue, up 19.6% compared to $166.3 million, or 22.4% of revenue.
“The Option Care Health team delivered a very strong second quarter, while continuing to invest for future growth,” said John Rademacher, CEO. “Most importantly, the team focused on...
In brief: CMS exempts accessories, Advanced Diabetes buys US MED, FDA classifies Philips recall
July 30, 2021HME News Staff
WASHINGTON – CMS in a final rule issued July 29 says it will permanently stop applying competitive bidding pricing to accessories for complex rehab manual wheelchairs.
In late June, CMS agreed to extend an 18-month pause on applying bid pricing to these accessories for an additional 90 days, until Oct. 1., to give the agency more time to review the industry’s request.
“We are sincerely grateful to CMS for making today’s policy decision and protecting...
Option Care Health appoints chief medical officer
July 29, 2021HME News Staff
BANNOCKBURN, Ill. – Option Care Health has named Dr. Seema Kumbhat to the newly created role of chief medical officer. She will oversee all clinical strategies, including clinical operations, continuous quality improvement, accreditation, clinically related sales and marketing efforts, and adherence to regulatory requirements. “As we continue to invest in our clinical differentiation and set the standard for delivering care to patients requiring infusion therapy in the alternate site...
Option Care partners with AlayaCare on software solutions
July 21, 2021HME News Staff
BANNOCKBURN, Ill., and MONTREAL – Option Care Health and AlayaCare have established a technology collaboration to develop software for alternate site infusion therapy.
This effort builds on an existing relationship, under which Option Care Health, a provider of home and alternate site infusion services, uses AlayaCare’s existing home and community care software to manage its clinical resources at the point of care.
“The patient experience is at the forefront...
In brief: Medline investment, SoClean award, MAC reviews
June 11, 2021HME News Staff
NORTHFIELD, Ill. – Medline Industries has entered into an agreement to receive a majority investment from a group of private equity firms, including Blackstone, Carlyle Group and Hellman & Friedman, worth a reported $30-plus billion.
Medline, which generated revenues of $17.5 billion in 2020, will use the new resources from the partnership to expand its product offerings, accelerate international expansion and continue to make new infrastructure investments to strengthen its global...
Stock watch: Apria, Option Care Health
June 10, 2021HME News Staff
Apria has announced a price to the public of $27 per share for a previously announced secondary offering of 4.5 million shares of common stock by a selling stockholder affiliated with Blackstone. The selling stockholder has also granted the underwriters a 30-day option to purchase up to 675,000 additional shares of common stock. The offering is expected to close on June 14, 2021, subject to customary closing conditions…Option Care Health has announced that an affiliate of Madison Dearborn...
Option Care hungry for M&A
May 14, 2021Theresa Flaherty, Managing Editor
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...
Option Care Health reports ‘solid’ results
May 7, 2021HME News Staff
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,...