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DENVER, May 30, 2017 -- 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 [email protected] David Clair ICR, Inc. T: (646) 277-1266 [email protected]
