This Day On The Street
Continue to site
ADVERTISEMENT
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 Completes Sale Of Home Health Services Business To LHC Group

ELMSFORD, N.Y., April 1, 2014 /PRNewswire/ -- BioScrip ®, Inc. (NASDAQ: BIOS) today announced that it has completed the previously announced sale of substantially all of its Home Health business, known as Deaconess HomeCare, to LHC Group, Inc. (NASDAQ: LHCG). The transaction represents a total deal value of approximately $60 million. BioScrip intends to use the net proceeds from the sale to pay down a portion of its outstanding debt.  

"With the completion of the Home Health transaction, we now have additional financial flexibility to continue building on BioScrip's solid foundation in home infusion services," said Rick Smith, President and Chief Executive Officer of BioScrip. "We continue to position BioScrip as a leader in the home infusion industry. We look forward to optimizing the value of our assets while maintaining our reputation for clinical excellence."

Mr. Smith continued, "Once again, we would like to express our appreciation for all that the Deaconess employees have accomplished. We believe that with LHC Group, the Deaconess family will achieve continued success."

Cain Brothers & Co., LLC acted as BioScrip's financial advisor in connection with the transaction and Polsinelli PC acted as BioScrip's legal advisor.

About BioScrip, Inc.

BioScrip, Inc. is a leading national provider of infusion solutions. BioScrip partners with physicians, healthcare payors, government agencies, hospital systems and pharmaceutical manufacturers to provide patients access to post-acute care services. BioScrip operates with a commitment to deliver customer-focused pharmacy and related healthcare infusion therapy services in alternate-site settings. By collaborating with the full spectrum of healthcare professionals and the patient, BioScrip provides cost-effective care that is driven by quality, customer service, and values that promote positive outcomes and an enhanced quality of life for those it serves. BioScrip provides its infusion services from 81 locations across 29 states.

1 of 2

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,010.68 -115.44 -0.64%
S&P 500 2,107.39 -13.40 -0.63%
NASDAQ 5,070.0260 -27.95 -0.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs