Option Care Health Announces Increased Share Repurchase Authorization

Rhea-AI Summary

Option Care Health, Inc. (OPCH) announced plans to complete the remaining $75 million of repurchases in Q4 and an increase in share repurchase program authorization from $250 million to $500 million, with no specified expiration date.

BANNOCKBURN, Ill., Dec. 06, 2023 (GLOBE NEWSWIRE) -- Option Care Health, Inc. (the “Company” or “Option Care Health”) (Nasdaq: OPCH), the nation’s largest independent provider of home and alternate site infusion services, announced today that it anticipates completing the remaining $75 million of repurchases in the fourth quarter under the original authorization. In addition, the Company’s Board of Directors approved an increase to its share repurchase program authorization from $250 million to $500 million. The program has no specified expiration date.

The extent to which the Company repurchases additional shares, and the timing of such repurchases, will depend upon a variety of factors, including market conditions, regulatory requirements, and other corporate considerations, as determined by the Company’s management.

About Option Care Health

Option Care Health is the nation’s largest independent provider of home and alternate site infusion services. With over 7,500 team members including more than 4,500 clinicians, we work compassionately to elevate standards of care for patients with acute and chronic conditions in all 50 states. Through our clinical leadership, expertise and national scale, Option Care Health is reimagining the infusion care experience for patients, customers and team members. To learn more, please visit our website at OptionCareHealth.com.

Investor Contacts

Mike Shapiro  
Chief Financial Officer  
T: (312) 940-2538  
mike.shapiro@optioncare.com  

Forward-Looking Statements - Safe Harbor

This press release may contain “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The statement about our expected repurchases during the fourth quarter is a forward-looking statement.

Important factors that could cause our actual results to differ materially from those indicated in the forward-looking statements include, among others, the incurrence of unexpected expenses, a significant increase in the price of our common stock, an unexpected business or strategic development that may impact our use of cash or significant changes in the macroeconomic environment.

Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

 

FAQ

What did Option Care Health, Inc. (OPCH) announce regarding its share repurchase program?

Option Care Health, Inc. (OPCH) plans to complete the remaining $75 million of repurchases in Q4 and has increased its share repurchase program authorization from $250 million to $500 million with no specified expiration date.

What factors will determine the extent and timing of additional share repurchases by Option Care Health, Inc. (OPCH)?

The extent and timing of additional share repurchases by Option Care Health, Inc. (OPCH) will depend upon a variety of factors, including market conditions, regulatory requirements, and other corporate considerations, as determined by the Company’s management.