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BioScrip Completes Acquisition Of CarePoint Home Infusion Business

Stocks in this article: BIOS

ELMSFORD, N.Y., Aug. 26, 2013 /PRNewswire/ --  BioScrip ®, Inc. (NASDAQ: BIOS) today announced that it has completed the previously announced acquisition of the business of CarePoint Partners Holdings LLC and its subsidiaries (collectively, "CarePoint Partners"), a leading national provider of home and alternate-site infusion therapy for patients with complex, acute and chronic illnesses.

"We are pleased to announce the closing of the CarePoint Partners acquisition.  This transaction marks another step in our strategy to build national scale in our core infusion business.  We continue to see significant acquisition opportunities for additional growth, market expansion and consolidation in this highly-fragmented industry," stated Rick Smith, President and Chief Executive Officer of BioScrip.

"We welcome the employees of CarePoint Partners to the BioScrip team.  With a shared focus on high-quality customer service and clinical excellence, we look forward to their contributions towards our goal of creating the leading national provider of infusion therapy," added Smith. 

Dana Soper, Chief Executive Officer of CarePoint Partners, stated, "We are pleased to join the BioScrip organization.  Over the past several months, our respective teams have been working diligently on integration planning to ensure a smooth transition for our payors, employees and patients.  As a combined entity, we can further leverage our respective capabilities and continue to deliver on our high-touch service model."

Headquartered in Cincinnati, Ohio, CarePoint Partners serviced approximately 20,500 patients annually and had 28 sites of service in nine states within the East Coast and Gulf Coast regions prior to BioScrip's acquisition of CarePoint Partners.  With the addition of CarePoint Partners, BioScrip will provide home infusion services to over 100,000 patients annually. 

Jefferies LLC acted as BioScrip's exclusive financial advisor in connection with the transaction and Polsinelli PC acted as BioScrip's legal advisor.

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