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BioScrip and Option Care Merge to Create Leading Home and Alternate Site Infusion Therapy Provider
Combined Company to Reimagine Infusion Care Experience
Merger Approved by BioScrip and Option Care Shareholders and Boards of Directors
{City, State} – {Date} – BioScrip, Inc. (NASDAQ: BIOS) and Option Care Health, Inc. (NASDAQ: OPCH) today announced the completion of their merger, creating a leading independent provider of home and alternate site infusion therapy services in the United States.
The combined company, Option Care Health Inc., will provide a comprehensive suite of infusion therapy services to patients with complex and chronic conditions, including those with cancer, immune disorders, and rare diseases. With a nationwide network of over 1,000 locations, the company will have the scale and expertise to meet the growing demand for high-quality, cost-effective infusion care.
“We are excited about the future because of our foundation from two companies with strong histories of leading the infusion care industry,” said John Rademacher, President and CEO of Option Care Health. “This combination enables us to reimagine the infusion care experience to unleash the full potential of high-quality care in a lower cost.”
The merger was approved by the shareholders and boards of directors of both BioScrip and Option Care. The combined company will be led by John Rademacher, who will serve as President and CEO. The company's executive leadership team will also include key executives from both BioScrip and Option Care.
The merger is expected to be accretive to Option Care Health's earnings per share in the first full year following the transaction. The company expects to achieve approximately $100 million in annual cost synergies within three years of closing.
About Option Care Health
Option Care Health is a leading provider of home and alternate site infusion therapy services in the United States. The company provides a comprehensive suite of infusion therapy services to patients with complex and chronic conditions, including those with cancer, immune disorders, and rare diseases.
About BioScrip
BioScrip is a leading provider of infusion therapy services to patients with complex and chronic conditions in the United States. The company provides a comprehensive suite of infusion therapy services, including home infusion, alternate site infusion, and pharmacy services.
Note: This merger is still subject to regulatory approval before the deal can be officially closed. The merging companies have filed their merger agreement with the Securities and Exchange Commission (SEC) and the Federal Trade Commission (FTC).