This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

BioScrip Closes Acquisition Of HomeChoice Partners, Inc.

ELMSFORD, N.Y., Feb. 4, 2013 /PRNewswire/ -- BioScrip, Inc. (NASDAQ: BIOS) today announced the February 1, 2013 closing of its previously announced agreement to acquire HomeChoice Partners, Inc. ("HomeChoice"), a leading provider of alternate-site infusion pharmacy services, for $70.0 million in cash.  HomeChoice was a majority-owned subsidiary of DaVita HealthCare Partners Inc. (NYSE: DVA).  The purchase price is subject to adjustment pursuant to the terms of the agreement including potential additional consideration based on the results of operations.  BioScrip also expects to realize the value of a future tax benefit estimated at $3.9 million as a result of the transaction.

(Logo: )

Headquartered in Norfolk, VA, HomeChoice services approximately 15,000 patients annually, and has fourteen infusion pharmacy locations in Pennsylvania, Washington, DC, Maryland, Virginia, North Carolina, South Carolina, Georgia, Missouri, and Alabama.

"We expect to immediately begin to integrate HomeChoice into our Infusion Services segment to take advantage of increased purchasing power, operating leverage and market synergies.  HomeChoice is an important part of our ongoing strategy to build our infusion business through strategic and opportunistic acquisitions, which meet our financial criteria and enable us to expand our national footprint," stated Rick Smith, President and Chief Executive Officer of BioScrip.

"We welcome the employees of HomeChoice to the BioScrip team. Their reputation for providing outstanding customer service is an important part of our focus and complements our culture as we strive to grow our payor and referral relationships," concluded Smith.


As previously announced, HomeChoice is expected to generate approximately $70 million in annual revenue.  Once fully integrated, this business should generate Adjusted EBITDA margins between 12% and 14%.  The company estimates that an acquisition of this size can take 9 to 12 months to fully integrate.

About BioScrip, Inc.

BioScrip, Inc. provides comprehensive infusion and home care solutions. By partnering with patients, physicians, healthcare payors, government agencies and pharmaceutical manufacturers we are able to provide access to infusible medications and management solutions. Our goal is to optimize outcomes for chronic and other complex healthcare conditions and enhance the quality of patient life. BioScrip brings clinical competence in providing high-touch, comprehensive infusion and nursing services to patients in the most convenient ways possible. Through our customer services and treatments we aim to ensure the best possible therapy outcome.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs