Tag: John Rademacher

BANNOCKBURN, Ill. – Option Care will return nearly all of a $106 million break-up fee to shareholders, as the company moves on from its failed merger with Amedisys, said CEO John Rademacher.  Option Care announced in June that it had terminated its $3.6 billion merger with Amedisys, just weeks after the two companies announced the deal.  “Given the strength of our balance sheet and forward outlook, we believe it is appropriate to return essentially all of the break...

BANNOCKBURN, Ill. – Option Care Health reported net revenue of $1.07 billion and net income of $114.4 million for the second quarter of 2023.  Gross profit was $250.8 million or 23.5% of net revenue, and adjusted EBITDA was $110.1 million for the quarter.  “The Option Care Health team executed on another solid quarter of financial results,” said John Rademacher, CEO. “Our commitment to providing unparalleled care that produces superior clinical outcomes makes...

BANNOCKBURN, Ill., and BATON ROUGE, La. – The merger of Option Care Health and Amedisys creates a home care giant with projected annual revenue of $6.2 billion that’s primed to serve a $100 billion addressable market for everything from prevention and maintenance care to acute and post-acute care to end-of-life care.  Option Care, the nation's largest independent provider of home and alternate site infusion services, and Amedisys, a leading provider of home health, hospice...

BANNOCKBURN, Ill. – Option Care Health reported net revenue of $1.02 billion and net income of $39.2 million for the first quarter of 2023.  Gross profit was $229 million, or 22.5% of net revenue, up 14% compared to $200.9 million, or 21.9% of net revenue, in the first quarter of 2022. Adjusted EBITDA was $93.8 million, up 20.6% compared to $77.8 million.  "The Option Care Health team's commitment to providing extraordinary patient care in the post-acute and ambulatory setting...

ALEXANDRIA, Va. – Option Care CEO John Rademacher has been named chair of the board of directors for The National Home Infusion Association. He takes over from Tim Affeldt, who will transition into past chair. “We welcome John’s leadership and expertise at a critical time as the association continues to grow and diversify,” said Connie Sullivan, NHIA president and CEO. “His industry knowledge and perspective will be key advantages as NHIA advocates for appropriate payment...

BANNOCKBURN, Ill. – Option Care Health closed out 2022 with $294 million in cash on hand, despite inflationary pressures across the broader economy, said company execs on a recent call to discuss their financial results.  Conservatively, the company “digested” more than $40 million in year-over-year cost pressures in labor, medical supplies, oil-derived products and operating inputs. Those increased costs are likely here to stay, says CFO Mike Shapiro.  “We...

BANNOCKBURN, Ill. – Option Care Health reported net revenue of $1.2 billion for the fourth quarter 2022, up 10.8% compared to $927.2 million in the fourth quarter of 2021.  Gross profit was $231.1 million, or 22.5% of revenue, up 8.9% compared to $212.2 million, or 22.9% of revenue, in the fourth quarter of 2021; and net income was $47.5 million, or $0.26 earnings per share, inclusive of the impact from the sale of certain of the company's respiratory therapy assets.  “The...

BANNOCKBURN, Ill. – After a “sluggish” start in the first quarter of 2022, the rest of the year looks to be “productive” for Option Care Health, says CEO John Rademacher.  “As we entered the year, we were in the midst of the COVID resurgence related to the omicron variant,” said Rademacher on a recent earnings call. “This had a very disruptive impact on our referral patterns and local pharmacy operation. Given the resilience of our teams in...

BANNOCKBURN, Ill. – Option Care Health in 2021 invested more than $100 million, including both a recent acquisition and a planned acquisition, as it seeks to build out a “critical” national nursing network, said CEO John Rademacher.  On a Feb. 24 earnings call, the company said it had acquired Salt Lake City, Utah-based Wasatch Infusion, with four infusion centers, for $18 million in December. It also announced that it has entered into an agreement to acquire Sarasota, Fla.-based...

BANNOCKBURN, Ill. – Option Care Health reported net revenue of $927.2 million for the fourth quarter of 2021 and gross profit of $212.2 million, increases of just over 15% compared to the fourth quarter of 2020. Net revenue for the full year was about $3.4 billion, an increase of about 13.4% and gross profit was $779.6 million, or 22.7% of revenue, an increase of 14.2% over 2020. Adjusted EBITDA was $289.8 million. The company also announced that it acquired Wasatch Infusion LLC, an infusion...