Option Care prioritizes practitioner model

BANNOCKBURN, Ill. – Option Care Health in January closed on its acquisition of Intramed Plus, a South Carolina-based infusion provider, in a strategic move to broaden its advanced practitioner model, company execs say. 

“We believe the advanced practitioner clinical model is highly complementary to our network of compounding pharmacies, and we intend to continue enhancing and expanding our infusion site network to incorporate broader clinical capabilities,” said CEO John Rademacher on a recent call to discuss Option Care’s fourth quarter and full year 2024 earnings. “And the expansion of our advanced practitioner model remains a priority and beyond, as we look to provide the most comprehensive set of infusion care solutions to our key stakeholders.” 

Option Care has worked to build out its nursing practitioner network since its acquisition of Wasatch Infusion in 2022. The company currently has 175 locations – 15 of which operate with the advanced practitioner model. 

Q4 highlights 

Highlights for the fourth quarter, which saw revenue increase 19.7% compared to the same quarter in 2023, include the opening of two new compounding pharmacies, in New York City and Tampa, Fla., and the buyback of approximately $90 million of stock. In January, the company’s board of directors approved a new $500 million authorization going forward.  

“Given the strength of our balance sheet and cash flow generation, we have various options to deploy capital available to us,” said Rademacher. “We believe deploying capital through both accretive acquisitions and share repurchase will create value over the longer term for our shareholders.” 

Looking ahead 

For the full year 2025, Option Care expects to see an impact of $60 million to $70 million related to pricing changes for Stelara, a treatment for several chronic conditions, which was included as part of the first 10 drugs subject to negotiation under the Inflation Reduction Act. It also expects to see competition from new biosimilars starting early this year. 

“While the Stelara impact is unfortunate, managing through therapy portfolio dynamics is nothing new for this team,” said Rademacher. “And we believe the clinical program we established to treat complex Stelara patients is a testament to the clinical capabilities and power of this national platform.” 

• Related: Option Care sees nursing as path to growth.