Option Care Health, Inc. provides home and alternate-site infusion services for patients with acute and chronic conditions across the United States. The company operates in infusion services and reports developments tied to clinical service delivery, national provider relationships, and the economics of its care model.
Recurring news for OPCH includes quarterly and full-year financial results, guidance updates, operating cash flow, share repurchase activity, credit facility changes, and presentations at health care investor conferences. Company updates also address capital allocation and management commentary related to revenue growth and profitability in home and alternate-site infusion care.
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.
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.