Tag: Option Care Health

OVERLAND PARK, Kan. – WellSky has expanded its partnership with Option Care Health Inc. to accelerate innovations and workflow enhancements within WellSky’s infusion and specialty pharmacy platform, CareTend. Option Care will implement the software across its more than 160 locations. “Our decision to select WellSky’s CareTend as our go-forward platform was pivotal to our core value of delivering comprehensive infusion care resulting in greater operating efficiencies and higher...

BANNOCKBURN, Ill. – Health system partnerships fueled third quarter growth at Option Care Health, and the acquisition of Rochester Home Infusion will further accelerate that growth, said company execs on a recent earnings call.  The company paid $27.4 million for the Rochester, Minn.-based RHI at roughly a low double-digit adjusted EBITDA multiple. RHI’s relationships in Rochester and across the Upper Midwest region are “highly complementary” to Option Care’s...

BANNOCKBURN, Ill. – Option Care Health reported net revenue of just over $1 billion for the third quarter of 2022, an increase of 14.5% compared to $891.9 million for the third quarter of 2021.  Gross profit for the quarter was $218 million, or 21.4% of net revenue, up 7.4% compared to $203 million, or 22.8% of net revenue, in the third quarter of 2021.   “The Option Care Health team continued to execute on our commitment to delivering extraordinary care to our patients,”...

BANNOCKBURN, Ill. – Option Care Health delivered a solid second quarter, even as it navigated pressures from a tight labor market and rising inflation, company execs said on a recent call.  “Our focus on recruiting our existing team members every single day and recruiting new members to the team helps ensure that we have capacity and vital skills necessary to provide advanced care to our patients,” said John Rademacher, CEO.   With its recent acquisitions of SPIN...

BANNOCKBURN, Ill. – Option Care Health reported net revenues of $980.8 million for the second quarter ended June 30, 2022, a 14% increase compared to the same period last year.  Gross profit was $216.9 million, or 22.1% of net revenue, up 9%. Adjusted EBITDA was $85.2 million, or 8.7% of net revenue, up 17%. Cash flow from operations was $104.4 million.  “Overall, the second quarter was very productive for the Option Care Health team,” said CEO John Rademacher. “We...

BANNOCKBURN, Ill. – After a “sluggish” start in the first quarter of 2022, the rest of the year looks to be “productive” for Option Care Health, says CEO John Rademacher.  “As we entered the year, we were in the midst of the COVID resurgence related to the omicron variant,” said Rademacher on a recent earnings call. “This had a very disruptive impact on our referral patterns and local pharmacy operation. Given the resilience of our teams in...

HARTFORD, Conn. – Lifeway Mobility has acquired Accessible Systems, Inc., expanding its presence in the Rocky Mountain and Southwest regions.  ASI, a full-service dealer of stairlifts, wheelchair lifts, residential elevators, ramps, step-in tubs and overhead lifts, was co-founded more than 22 years ago by John Bixenman, Marty Twaddell and Nathan Colburn.   “We are proud of the reputation we have earned in our mission to serve families who want to stay in their own home...

BANNOCKBURN, Ill. – Option Care Health reported revenue of $915.8 million for the first quarter of 2022, an increase of 20.6% compared to the same period in 2021.  Gross profit was $200.9 million, an increase of 21.4% compared to the same quarter in 2021. Adjusted EBITDA was $77.8 million and cash flow from operations was $32.7 million.  “Despite a dynamic start to the year and ongoing pandemic disruption, the Option Care Health team executed exceptionally to ensure high...

BANNOCKBURN, Ill. – Option Care Health has completed its acquisition of Specialty Pharmacy Nursing Network for $60 million in an all-cash transaction. SPNN will maintain its current operations and continue to serve a broad array of infusion providers, specialty pharmacies and biopharmaceutical manufacturers as a separate enterprise within Option Care Health. “I am thrilled to welcome the entire SPNN team to the Option Care Health family,” said CEO Joh Rademacher. “SPNN’s...

BANNOCKBURN, Ill. – Option Care Health in 2021 invested more than $100 million, including both a recent acquisition and a planned acquisition, as it seeks to build out a “critical” national nursing network, said CEO John Rademacher.  On a Feb. 24 earnings call, the company said it had acquired Salt Lake City, Utah-based Wasatch Infusion, with four infusion centers, for $18 million in December. It also announced that it has entered into an agreement to acquire Sarasota, Fla.-based...