Highlights Strength of Platform and Track
Record of Execution and Value Creation
BANNOCKBURN, Ill., June 26,
2023 /PRNewswire/ -- Option Care Health, Inc.
("Option Care Health" or the "Company") (Nasdaq: OPCH) today
announced that it has terminated its previously announced agreement
to combine with Amedisys, Inc. ("Amedisys").
As part of the mutual termination agreement, Option Care Health
will receive a $106 million
termination fee. Consistent with Option Care Health's commitment to
creating shareholder value, the Company will incorporate the
termination fee into its established capital allocation
strategy.
"While we are disappointed in this outcome, Option Care Health
has a long track record of delivering value for our shareholders,"
said John C. Rademacher, President
and Chief Executive Officer of Option Care Health. "We take a
disciplined approach to acquisitions and, as we evaluated our
options, we applied this discipline to ensure we continue to create
value for all of our key stakeholders."
"Option Care Health benefits from a leading platform in home and
alternate site infusion services and a proven track record of
execution," Rademacher continued. "We remain confident in our
growth trajectory, which is underpinned by current industry trends
and market forces as well as our strong financial position. Our
team is committed to serving all our stakeholders by providing
unsurpassed care and superior clinical outcomes in the home or
ambulatory setting, and we will continue to identify ways to
increase the value we can deliver."
About Option Care Health
Option Care Health is the nation's largest independent provider
of home and alternate site infusion services. With over 7,500 team
members including more than 4,500 clinicians, we work
compassionately to elevate standards of care for patients with
acute and chronic conditions in all 50 states. Through our clinical
leadership, expertise and national scale, Option Care Health is
reimagining the infusion care experience for patients, customers
and team members. To learn more, please visit our website at
OptionCareHealth.com.
Forward-Looking Statements - Safe Harbor
This press release may contain "forward-looking statements"
within the meaning of the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by words such as: "anticipate,"
"intend," "plan," "believe," "project," "estimate," "expect,"
"may," "should," "will" and similar references to future periods.
Examples of forward-looking statements include, among others,
statements regarding our capital allocation plans and
strategies.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Important factors that could cause our
actual results and financial condition to differ materially from
those indicated in the forward-looking statements include, among
others, the following: (i) changes in laws and regulations
applicable to our business model; (ii) changes in market conditions
and receptivity to our services and offerings; (iii) results of
litigation; (iv) the loss of one or more key payers; (v) any
adverse effect on the Company as a result of the announcement filed
as an exhibit to this report or the failure of the transaction to
proceed; (vi) the Company's success in executing its business plans
and strategies and managing the risks involved in the foregoing;
and (vii) changes to the Company's capital allocation plans and
strategies. For a detailed discussion of the risk factors that
could affect our actual results and financial condition, please
refer to the risk factors identified in our SEC reports as filed
with the SEC.
Any forward-looking statement made by us in this press release
is based only on information currently available to us and speaks
only as of the date on which it is made. We undertake no obligation
to publicly update any forward-looking statement, whether written
or oral, that may be made from time to time, whether as a result of
new information, future developments or otherwise.
Investors:
Mike
Shapiro
Chief Financial Officer
(312) 940-2538
investor.relations@optioncare.com
Media:
Arielle
Rothstein / Sharon Stern /
Greg Klassen
Joele Frank, Wilkinson Brimmer
Katcher
(212) 355-4449
OPCH-media@joelefrank.com
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SOURCE Option Care Health, Inc.