Option Care Health Inc Stock Price, News & Analysis

Option Care Health Inc (NASDAQ: OPCH), the largest independent provider of home and alternate site infusion services, is expanding its partnership with WellSky. This collaboration aims to enhance the CareTend platform across 160+ infusion suites. With new automation, clinical decision support, and mobile capabilities, the partnership intends to improve patient outcomes and reduce costs. The initiative builds on over a decade of collaboration between the two companies, focusing on technology innovation in infusion therapy.

Option Care Health, the largest independent provider of home infusion services, reported Q3 2022 financial results with net revenue increasing 14.5% to $1,020.9 million from $891.9 million a year earlier. Gross profit rose 7.4% to $218.0 million, representing 21.4% of net revenue. Net income grew to $38.8 million, or $0.21 per share, up from $35.5 million a year ago. Adjusted EBITDA was $85.6 million, reflecting a 9.8% increase. The company also announced an acquisition of Rochester Home Infusion for $27.4 million. Guidance for 2022 is revised to $3.90 to $3.95 billion in revenue.

Option Care Health (NASDAQ: OPCH) will announce its Q3 2022 earnings on October 27, 2022, before the market opens. The management team will discuss the results in a conference call at 8:30 a.m. E.T. Pre-registration for the call is available, and a live audio webcast will be offered on their investor website. Option Care Health is the largest independent provider of home and alternate site infusion services in the U.S., serving patients in all 50 states with over 7,000 team members, including more than 4,000 clinicians.

Walgreens Boots Alliance (WBA) has sold 11 million shares of Option Care Health (OPCH) in a secondary offering, reducing its ownership from 20.5% to 14.4%. The proceeds will primarily be utilized for debt paydown and to support strategic priorities. CEO Rosalind Brewer emphasized the action aligns with the company's strategy and enhances balance sheet flexibility. Walgreens Boots Alliance continues to serve millions through over 13,000 locations worldwide, aiming to improve healthcare access.

Option Care Health announced an affiliate of Walgreens Boots Alliance will sell 11 million shares of the Company’s common stock at $33.25 per share in a secondary offering. This represents about 6% of the current shares outstanding. The offering is expected to close on August 18, 2022, subject to customary conditions. Goldman Sachs is the underwriter for the offering. Option Care Health will not receive any proceeds from this transaction. A shelf registration statement was filed with the SEC for these shares.

Option Care Health announced an underwritten secondary offering of 11 million shares by an affiliate of Walgreens Boots Alliance, representing approximately 6.0% of its outstanding shares. The offering, managed by Goldman Sachs, will not generate proceeds for the company. A shelf registration statement has been filed with the SEC to facilitate this process. Although the offering can potentially affect stock availability, it is not expected to impact the company's financial position directly.

Option Care Health, the largest independent provider of home and alternate site infusion services in the U.S., has announced its participation in two investor conferences. The BofA Securities SMID Cap Ideas Conference will be held virtually on August 10, 2022, featuring a fireside chat at 9:40 am ET. Following that, the Morgan Stanley 20th Annual Global Healthcare Conference is set for September 12, 2022, in New York, with a fireside chat at 8:45 am ET. Additional information and presentations will be available online.

Option Care Health reported strong second quarter 2022 financial results, with net revenue of $980.8 million, a 14.0% increase from $860.3 million in Q2 2021. Gross profit reached $216.9 million (22.1% of revenue), up 9.0% year-over-year. Net income was $33.9 million ($0.19 per share), compared to $31.8 million ($0.18 per share) last year. Adjusted EBITDA increased 17.0% to $85.2 million. Cash flow from operations improved to $104.4 million. The company also completed the acquisition of Specialty Pharmacy Nursing Network for $60.0 million.

Option Care Health (NASDAQ: OPCH) will announce its second-quarter results on July 27, 2022, before market opening. The management team will host a conference call at 8:30 a.m. ET to discuss the results. Option Care Health is recognized as the largest independent provider of home and alternate site infusion services in the U.S., employing over 7,000 individuals, including 4,000 clinicians. The company is dedicated to enhancing patient care for both acute and chronic conditions across all 50 states.