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) announced that an affiliate of Madison Dearborn Partners will sell 9,200,000 shares of its common stock in an underwritten public offering. This sale accounts for approximately 5.1% of the total shares outstanding, reducing the Selling Stockholder's ownership from 26.2% to 21.1%.
Goldman Sachs is the sole underwriter for the offering, and the company will not receive any proceeds. The offering follows a previous secondary offering in August 2021, with Walgreens intending to maintain its 21% indirect interest in the company after this offering.
Option Care Health announced a public offering of 18 million shares at $20.25 each, increasing from the original 15 million shares. This represents approximately 10% of total shares outstanding, and the underwriters have a 30-day option for an additional 2.7 million shares. Following the offering, the Selling Stockholder's ownership will drop from 37.7% to 27.7%. The offering is scheduled to close on August 5, 2021. Option Care Health will not receive any proceeds from this sale.
Option Care Health has announced a public offering of 15 million shares of common stock by an affiliate of Madison Dearborn Partners, with an additional option for underwriters to purchase 2.25 million more shares. This represents approximately 8.3% of outstanding shares, reducing the Selling Stockholder's interest from 37.7% to 29.3%. The offering proceeds will benefit equity holders of the Selling Stockholder, including Walgreens, which will maintain a 21% indirect financial interest post-offering. Goldman Sachs is the sole underwriter for this transaction.
Option Care Health, the largest independent provider of home and alternate site infusion services, reported strong financial results for Q2 2021. Net revenue reached $860.3 million, a 16.1% increase year-over-year. Gross profit rose to $199.0 million, equating to 23.1% of net revenue, with net income of $31.8 million or $0.18 per share, marking a turnaround from a net loss in Q2 2020. Adjusted EBITDA grew by 33.3% to $72.8 million, and cash flow from operations improved to $73.7 million. The company also completed an acquisition of BioCure's assets for $18.9 million.
Option Care Health (Nasdaq: OPCH) has appointed Dr. Seema Kumbhat as its new Chief Medical Officer. In her role, she will oversee clinical strategies, operations, quality improvement, and regulatory compliance. Dr. Kumbhat has a strong background, previously serving as Senior Vice President and Regional Medical Officer at Fresenius Kabi, and has held positions at major healthcare organizations. CEO John Rademacher expressed confidence in her ability to enhance patient care and clinical outcomes as the company continues to differentiate its infusion services.
On July 21, 2021, AlayaCare and Option Care Health (Nasdaq: OPCH) announced a technology collaboration to enhance software for alternate site infusion therapy. This partnership aims to improve patient engagement and care delivery through advanced automation and data capture tools. Option Care Health currently utilizes AlayaCare's software to manage clinical resources. Both companies are focused on enhancing patient experiences and achieving superior clinical outcomes through this strategic collaboration.
Option Care Health (NASDAQ: OPCH) announced it will release its second quarter results for the period ending June 30, 2021, on August 3, 2021, prior to the market opening. The management team will conduct a conference call at 8:30 a.m. E.T. on the same day to discuss the results. The call will be accessible via phone or live audio webcast, with a replay available shortly after for approximately 90 days. Option Care Health is the largest independent provider of home and alternate site infusion services in the United States, employing over 5,000 individuals.
Option Care Health announced an underwritten public offering of 15,000,000 shares at $20.00 per share, increasing from an initial 10,000,000 shares. The offering, led by Goldman Sachs & Co. LLC, is expected to close on June 10, 2021, subject to customary conditions. The Selling Stockholder will reduce its ownership from 47.3% to 38.9% post-offering (or 37.7% if the underwriter's option is exercised). The company will not receive proceeds from this offering.
Option Care Health (NASDAQ: OPCH) announced the sale of 10,000,000 shares of its common stock by an affiliate of Madison Dearborn Partners, representing approximately 5.6% of current outstanding shares. The underwriter, Goldman Sachs & Co. LLC, has a 30-day option to purchase an additional 1,500,000 shares. After this offering, the selling stockholder's interest will decrease from 47.3% to 41.7% (or 40.9% with the additional shares). The company will not receive any proceeds from the offering.
Option Care Health, the largest independent provider of home and alternate site infusion services in the U.S., announced that CEO John C. Rademacher and CFO Mike Shapiro will participate in two major investor conferences. They will present at the William Blair 41st Annual Growth Stock Conference on June 2, 2021, at 3:00 p.m. ET, and the Goldman Sachs 42nd Annual Global Healthcare Conference on June 9, 2021, at 1:20 p.m. ET. Webcast links for both events will be available on their investor relations website.
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