Home Article Option Care Health surpasses $1B mark in Q3

Option Care Health surpasses $1B mark in Q3

Option Care Health surpasses $1B mark in Q3

Specialty Providers

Default Author Head Shot

By HME News Staff

Updated 10:02 AM CDT, Thu October 27, 2022

John RademacherBANNOCKBURN, Ill. – Option Care Health reported net revenue of just over $1 billion for the third quarter of 2022, an increase of 14.5% compared to $891.9 million for the third quarter of 2021. 

Gross profit for the quarter was $218 million, or 21.4% of net revenue, up 7.4% compared to $203 million, or 22.8% of net revenue, in the third quarter of 2021. 

 “The Option Care Health team continued to execute on our commitment to delivering extraordinary care to our patients,” said John Rademacher, CEO. “Our focus on quality patient care, as well as our investments for future growth, have allowed us to capitalize on dynamic market opportunities and deliver solid financial results in the third quarter, despite an ongoing challenging inflationary environment.” 

Adjusted EBITDA for the quarter was $85.6 million, or 8.4% of net revenue, up 9.8% compared to $78.0 million, or 8.7% of net revenue, in the third quarter of 2021. 

For the full year, Option care expects:  

  • Net revenue of $3.9 billion to $3.95 billion 
  • Adjusted EBITDA of $336 million to $341 million 
  • Cash flow from operations of at least $250 million.

Comments

To comment on this post, please log in to your account or set up an account now.