Option Care Health Inc Stock Price, News & Analysis

Option Care Health announced a public offering of 15,000,000 shares at $18.50 each, up from a previously planned 10,000,000 shares. The underwriter, Goldman Sachs, has a 30-day option to purchase an additional 2,250,000 shares. The offering will close on February 10, 2021. The sale will decrease the Selling Stockholder's interest in the Company from 63.6% to 55.2%. The Company will not receive any proceeds from this offering, which accounts for approximately 8.3% of the outstanding shares, or 9.6% with full exercise of the underwriter's option.

Option Care Health (NASDAQ: OPCH) announced the sale of 10,000,000 shares of its common stock by an affiliate of Madison Dearborn Partners in an underwritten public offering. This sale represents approximately 5.6% of shares outstanding and could increase to 6.4% with an additional 1,500,000 shares option. Post-offering, the Selling Stockholder's ownership will reduce from 63.6% to 58.0%. The offering is managed by Goldman Sachs & Co. LLC, and the Company will not receive any proceeds from the sale.

Option Care Health (NASDAQ: OPCH) announced preliminary financial results for Q4 and the fiscal year ending December 31, 2020. For Q4, net revenue is expected to be between $800 million to $805 million, an 11% growth year-over-year. Net income is projected at $16 million to $18 million, with adjusted EBITDA between $66 million to $68 million, reflecting a 25% to 28% increase. For FY 2020, net revenue is projected at approximately $3.03 billion, but a net loss is anticipated between $7.9 million to $9.9 million.

Option Care Health (NASDAQ: OPCH) has successfully issued $250 million in additional first lien term loans, aimed at extinguishing $246 million of second lien notes. This financing simplifies the company's capital structure and reduces its cash interest burden, as the interest rate on the new loans is set at Libor plus 3.75%, compared to Libor plus 8.75% for the extinguished notes. The new loans have a maturity date set for August 2026 and will reflect in the first quarter 2021 financial results.

Option Care Health (NASDAQ: OPCH) collaborates with Amedisys to deliver COVID antibody infusion therapy in long-term care facilities. This initiative follows FDA Emergency Use Authorizations for treatments by Eli Lilly and Regeneron. The pilot will begin in Indianapolis and Valparaiso, Indiana, leveraging both companies' clinical resources to serve this vulnerable population effectively. Amedisys will provide on-site care coordination, while Option Care Health will manage the pharmacy operations, ensuring efficient access to critical therapies for COVID-19 positive patients.

Option Care Health, the largest independent provider of home and alternate site infusion services in the U.S., is set to present at the 39th Annual J.P. Morgan Healthcare Conference on January 11, 2021, at 3:40 p.m. EST. CEO John Rademacher and CFO Mike Shapiro will lead the presentation. A replay will be available on their investor relations site. With over 5,000 employees, including 2,900 clinicians, Option Care Health is committed to improving care standards for patients with various conditions across all 50 states.

On December 10, 2020, Option Care Health (NASDAQ: OPCH) announced that an affiliate of Madison Dearborn Partners will sell 10,000,000 shares of its common stock at $15.00 per share in an underwritten public offering. The offering, expected to close on December 14, 2020, includes a 30-day option for the underwriter to purchase an additional 1,500,000 shares. This sale reduces the Selling Stockholder’s interest from 70.6% to 64.5%. Option Care Health will not receive any proceeds from this transaction.

Option Care Health (NASDAQ: OPCH) announced that an affiliate of Madison Dearborn Partners plans to sell 10,000,000 shares of its common stock in an underwritten public offering. The Selling Stockholder has granted the underwriter a 30-day option to purchase an additional 1,500,000 shares. Following this offering, the Selling Stockholder's ownership will decrease from 70.6% to 64.5%. Goldman Sachs & Co. LLC is the sole underwriter for this offering, which the Company will not benefit from financially.

Option Care Health, Inc. (Nasdaq: OPCH) reported financial results for Q3 2020, revealing a 27% increase in net revenue to $781.6 million from $615.9 million in Q3 2019. Gross profit rose to $174.2 million (22.3% of revenue), compared to $137.8 million (22.4%). The company recorded a net income of $1.7 million or $0.01 per share, a significant recovery from a $42.8 million loss last year. Adjusted EBITDA surged by 70% to $59.2 million, with operational cash flow improving to $48.3 million from a loss of $5.8 million.