Option Care Health reports Q4, full year growth
By HME News Staff
Updated 8:56 AM CST, Wed February 23, 2022
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BANNOCKBURN, Ill. – Option Care Health reported net revenue of $927.2 million for the fourth quarter of 2021 and gross profit of $212.2 million, increases of just over 15% compared to the fourth quarter of 2020.
Net revenue for the full year was about $3.4 billion, an increase of about 13.4% and gross profit was $779.6 million, or 22.7% of revenue, an increase of 14.2% over 2020. Adjusted EBITDA was $289.8 million.
The company also announced that it acquired Wasatch Infusion LLC, an infusion center operator based in Salt Lake City, Utah, in December and has also entered into a definitive agreement to acquire Specialty Pharmacy Nursing Network, Inc. (SPNN), which it expects to complete in 2022.
“The entire Option Care Health team continues to execute in an ongoing challenging environment,” said John Rademacher, CEO. “With the patient at the center of everything we do, Option Care Health served over a quarter of a million patients in 2021 despite the ongoing pandemic situation. We are proud of the results we have generated as well as the many investments we continue to make to drive future growth.”
For the full year 2022, Option Care Health anticipates revenues of $3.65 billion to $3.85 billion; adjusted EBITDA of $310 million to $330 million.
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