Option Care Health sees nursing as path to growth

BANNOCKBURN, Ill. – Option Care Health in 2021 invested more than $100 million, including both a recent acquisition and a planned acquisition, as it seeks to build out a “critical” national nursing network, said CEO John Rademacher. 

On a Feb. 24 earnings call, the company said it had acquired Salt Lake City, Utah-based Wasatch Infusion, with four infusion centers, for $18 million in December. It also announced that it has entered into an agreement to acquire Sarasota, Fla.-based Specialty Pharmacy Nursing Network (SPNN), a national provider of infusion nursing services that complements its previous acquisition, in October, of Infinity Infusion Nursing. 

“Having access to nurses is a critical path of our growth trajectory,” said Rademacher. “Upon the consummation of SPNN, we will have created a unique national nursing network that will support our growth and deepen our relationships up and down the pharmaceutical administration chain.” 

No other details were provided on the deal, but execs say it is expected to close this year. 

‘Disruptive year’ 

Managing labor force challenges made worse by the resurgence of COVID-19 in late 2021 is also a key area of focus, says Rademacher. 

“We have attempted to the best of our ability to lean out our redundant national network and dynamic staffing model, but it has impacted us nonetheless,” he said. “We are not immune from the labor scarcity that has affected almost every enterprise across the economy. This is impacting access to resources and also placing pressure on wages.” 

The late fourth quarter also brought “considerable variability” in Option Care’s referral patterns, with numerous referral sources closing and acute care facilities delaying procedures, said Rademacher, but as things slowly return to normal, the company expects to see a rebound. 

“It’s really market by market, but we start to see that, and it is following the pattern that we saw before with Delta and other variants,” he said.