Welcome to our dedicated page for Option Care Health news (Ticker: OPCH), a resource for investors and traders seeking the latest updates and insights on Option Care Health stock.
Option Care Health, Inc. (symbol: OPCH) is the largest independent provider of home and alternate site infusion services in the United States. With a dedicated team of over 7,500 members, including more than 4,500 clinicians, the company is at the forefront of delivering compassionate care to patients with acute and chronic conditions across all 50 states.
Formed from the merger of Option Care and BioScrip in August 2019, the company has successfully integrated its operations to create a unified national team. This merger has enabled Option Care Health to leverage its clinical leadership, extensive expertise, and national scale to reimagine the infusion care experience for patients, customers, and employees.
Option Care Health specializes in providing a variety of infusion therapies, including treatments for bleeding disorders, neurological conditions, heart failure, anti-infectives, and chronic inflammatory disorders. The company operates through home and alternate site settings, ensuring that patients receive care in a comfortable and convenient environment.
Recent achievements include strong financial performance, as highlighted in the company's third-quarter 2023 results. The CEO, John C. Rademacher, emphasized the outstanding clinical outcomes and extraordinary patient care that have contributed to these solid financial results. For the full year 2023, the company expects to generate substantial revenues and has provided updated financial guidance, reflecting its robust financial health.
The company's commitment to innovation is evident in its continuous efforts to elevate standards of care. Its clinical leadership and national scale allow Option Care Health to implement cutting-edge solutions that improve patient outcomes, reduce costs, and enhance the overall care experience.
Option Care Health's significant partnerships and collaborations further strengthen its market position. The company recently announced an increase in its share repurchase program authorization from $250 million to $500 million, demonstrating its confidence in its financial stability and future growth prospects.
For more information and the latest updates, please visit Option Care Health's Investor Relations page.
Option Care Health (Nasdaq: OPCH) reported strong financial results for Q4 and full year 2021, with net revenue increasing by 15.2% to $927.2 million in Q4, and by 13.4% to $3,438.6 million for the year. Gross profit rose to $212.2 million in Q4, and net income surged to $75.5 million, driven by a one-time tax benefit. The company also announced the acquisition of Wasatch Infusion LLC and a definitive agreement to acquire Specialty Pharmacy Nursing Network, expected to close in 2022. Full year 2022 guidance projects net revenue of $3.65 to $3.85 billion.
Option Care Health (NASDAQ: OPCH) will release its fourth quarter and full year results for 2021 on February 23, 2022, before market opens. This marks a significant reporting period for the nation's largest independent provider of home and alternate site infusion services. A conference call to discuss the results will be held at 8:30 a.m. E.T. the same day. Interested parties can access the call by dialing (866) 360-3136 or via a live audio webcast at OptionCareHealth's investor relations site.
Option Care Health Inc. (NASDAQ: OPCH) has partnered with WellSky to utilize CommonWell services, aiming for improved care coordination for over 250,000 patients annually. This initiative, set to launch in Q2 2022, will enhance interoperability across healthcare platforms, allowing referral partners to gain insights into patient care plans. The partnership will enable Option Care Health to enroll patients into the CommonWell network and facilitate health data exchange. With over 26,000 provider sites in the network, this collaboration aims to elevate health outcomes nationwide.
The Company, Riverbed|Aternity, announced the appointment of seven new directors to its Board of Directors following its recapitalization, effective December 7, 2021. These seasoned leaders bring diverse skills to enhance strategic goals and customer relationships. CEO Dan Smoot emphasized the Board's alignment with the Company's future vision and its improved financial profile. The new board members include R. Carter Pate, Steve Curts, and Patricia Hume, among others, each with significant experience in various sectors.
Option Care Health reported strong financial performance for Q3 2021, achieving net revenue of $891.9 million, a 14.1% increase from the previous year. The company's gross profit rose to $203.0 million, marking a 16.5% growth. Net income surged to $35.5 million or $0.20 per share, compared to $1.7 million or $0.01 per share in Q3 2020. Adjusted EBITDA improved by 31.7% to $78.0 million. The company maintains full-year guidance for net revenue between $3.35 billion and $3.50 billion.
Option Care Health (NASDAQ: OPCH) announced the pricing of its $500 million offering of 4.375% senior notes due 2029, set at an issue price of 100%. Concurrently, it priced a $600 million amended term loan B facility. The notes are senior unsecured obligations and will close around October 27, 2021, pending customary conditions. Proceeds will refinance existing debt and cover associated fees. The offering is limited to qualified institutional buyers and non-U.S. persons under applicable exemptions, with no registration under the Securities Act.
Option Care Health (NASDAQ: OPCH) has announced preliminary financial results for Q3 2021, projecting net revenue between $888 million and $893 million, a 14% increase from the previous year. The expected net income ranges from $33 million to $36 million, while Adjusted EBITDA is anticipated to be between $76 million and $79 million, indicating a growth of 28% to 34% year-over-year. The company reported an operational cash flow of approximately $50 million to $52 million and an ending cash balance of around $200 million as of September 30, 2021. Full results will be released on November 4, 2021.
Option Care Health, Inc. (NASDAQ: OPCH) plans to offer $500 million in senior notes due 2029, subject to market conditions. Concurrently, it will refinance $600 million of its existing first lien term loan facility extending maturity to 2028. The funds will be used to refinance current borrowings and cover fees associated with these transactions. The notes will be unsecured and guaranteed by the company’s domestic subsidiaries. The offering is targeted at qualified institutional buyers and will not be registered under the Securities Act.
Option Care Health (Nasdaq: OPCH) has announced the acquisition of Infinity Infusion Nursing, LLC for $50 million in cash, effective October 1, 2021. This strategic move enhances Option Care Health's home infusion services, expanding its national network of over 2,900 clinicians and now incorporating Infinity’s 1,300 specialty nurses across 49 states. The acquisition is aimed at improving patient care through enhanced clinical resources and technology, while Infinity will operate as a separate entity under its founding leadership.
Option Care Health (NASDAQ: OPCH) announced that Madison Dearborn Partners will sell 9.2 million shares of its common stock at $26.90 each in a public offering, expected to close on September 9, 2021. This sale represents approximately 5.1% of the company's outstanding shares, reducing Madison Dearborn's ownership from 26.2% to 21.1%. The company will not receive any proceeds from this offering. Goldman Sachs & Co. LLC is the sole underwriter, and the offering is registered with the SEC. Option Care Health is the largest independent provider of home infusion services in the U.S.
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