BioScrip Provides Update on UnitedHealthcare Contract
May 30 2017 - 8:00AM
BioScrip, Inc. (NASDAQ:BIOS) ("BioScrip" or the "Company"), the
largest independent national provider of infusion and home care
management solutions, today announced that the Company has reached
an agreement to continue to provide certain core product lines to
UnitedHealthcare beyond September 30, 2017. With this
agreement, BioScrip will retain approximately $35 million of
annualized profitable core revenue.
“We value our relationship with UnitedHealthcare and are pleased
with the revised mutually beneficial agreement. This new
contract demonstrates the value that BioScrip provides to all
stakeholders in the healthcare system,” said Daniel E. Greenleaf,
President and Chief Executive Officer.
The Company continues to collaborate with UnitedHealthcare on
contract transition plans, including its exit from other
non-profitable product lines, and will update its 2017 revenue
guidance when appropriate. The Company is reiterating its
prior guidance for adjusted EBITDA in the range of $45.0 million to
$55.0 million for full-year 2017.
About BioScrip
BioScrip, Inc. is the largest independent
national provider of infusion and home care management solutions,
with approximately 2,500 teammates and nearly 80 service locations
across the U.S. BioScrip partners with physicians, hospital
systems, payors, pharmaceutical manufacturers and skilled nursing
facilities to provide patients access to post-acute care services.
BioScrip operates with a commitment to bring customer-focused
pharmacy and related healthcare infusion therapy services into the
home or alternate-site setting. By collaborating with the full
spectrum of healthcare professionals and the patient, BioScrip
provides cost-effective care that is driven by clinical excellence,
customer service, and values that promote positive outcomes and an
enhanced quality of life for those it serves.
Investor Contacts:
Stephen Deitsch
Chief Financial Officer & Treasurer
T: (720) 697-5200
stephen.deitsch@bioscrip.com
David Clair
ICR, Inc.
T: (646) 277-1266
david.clair@icrinc.com
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