Tag: CarePoint Partners
BioScrip's home infusion revenues jump nearly 50%
August 8, 2014HME News Staff
ELMSFORD, N.Y. - BioScrip has reported revenues of $247.1 million and a net loss of $18.6 million for the second quarter of 2014. Total revenues increased by $74.8 million or 43.4% compared to the same period last year. Revenues from home infusion, specifically, increased $74.6 million or 47.8%. The growth in home infusion was driven primarily by continued strong double-digit organic growth and the acquisition of CarePoint Partners, the company stated.
Private equity has appetite for home infusion
January 15, 2014Theresa Flaherty, Managing Editor
YARMOUTH, Maine - Demand for home infusion companies at both ends of the scale was strong in 2013, say analysts.“There's bigger deals and then there's the bolt-on acquisitions,” said Reg Blackburn, managing director of specialty pharmacy and infusion services for The Braff Group. “There's not a lot in the middle.”The big news in 2013 was the sale of Coram to CVS Caremark in November for $2.1 billion. Other notable deals include BioScrip's acquisitions of CarePoint Partners...
Home infusion market stable, strong
July 24, 2013Theresa Flaherty, Managing Editor
When it comes to home infusion, big deals may be fewer and farther between, but there's still a lot of runway for buyers and sellers looking to make smaller deals, say industry analysts.
These days, most deals tend to come in at under $10 million and involve companies with one or two locations that service a specific geographic area, say analysts.
“By acquiring them, the larger company gets the coverage they want for the payers or just gets to have coverage in those geographies,”...
BioScrip gets serious about home infusion
June 21, 2013Theresa Flaherty, Managing Editor
ELMSFORD, N.Y. - BioScrip announced last week that it plans to acquire Cincinnati, Ohio-based CarePoint Partners for $223 million.
Under the deal, BioScrip will gain approximately 20,500 patients, bringing its total to 100,000, mostly in the eastern half of the country.
“With the market as robust as it is right now, they are wise to do an opportunistic transaction,” said Jonathan Sadock, managing partner with Paragon Ventures. “It's a nice price and they have been growing...
BioScrip buys CarePoint Partners
June 17, 2013HME News Staff
ELMSFORD, N.Y. - BioScrip has agreed to acquire CarePoint Partners for $223 million, bringing together two of the major players in home infusion therapy, according to a press release. The deal will also see BioScrip reap an estimated $45 million future tax benefit as a result of the transaction. CarePoint Partners, founded in 2008 in Cincinnati, services 20,500 patients annually, has 28 sites of service in nine states, and is expected to generate approximately $160 million in annual revenue, the...
CarePoint sets 'Toys for Tots' record
January 17, 2013HME News Staff
CINCINNATI - CarePoint Partners set aside $5 for every referral it received during the holiday season, raising $14,000 for the national “Toys for Tots” campaign, according to a press release. CarePoint also collected hundreds of toys for needy children at its 26 service locations in 9 states. The toys were delivered to children with the assistance of local social welfare agencies, church groups and other community organizations. CarePoint operates a network of home infusion and specialty...
In brief: Stakeholders organize, OIG investigates
June 22, 2012HME News Staff
WASHINGTON - Industry stakeholders last week submitted comments to CMS outlining concerns with a recent wave of claims against surety bonds—some triggered by overpayments as low as $16. The stakeholder, which include the Wayne van Halem Group, U.S. Rehab and VGM Insurance, recommends that CMS only allow DME MACs to trigger a surety bond if a threshold dollar amount is reached. The group also asked for better communication throughout the process, including giving more notice for providers when...
United Access, Carepoint Partners expand territories
June 20, 2012HME News Staff
EL PASO, Texas - United Access, a provider of mobility equipment and wheelchair vans, has acquired New Horizon Vans, it announced today.
The deal will allow United Access to expand its service in the El Paso, Texas, and Albuquerque, N.M., areas, according to a press release.
United Access now has 12 locations in St. Louis; Columbia, Mo.; Lenexa, Kan.; Memphis, Tenn.; Dallas; and Peoria, Springfield and Champaign, Ill.
The provider has more than 30 years of experience. It offers scooter lifts,...
CarePoint expands footprint, eyes further growth
April 26, 2011Theresa Flaherty, Managing Editor
CINCINNATI - April has been a busy month for home infusion provider CarePoint Partners, which added two new companies to its roster.
The provider acquired Infusion Technologies, with locations in North Miami and Tampa, Fla., and Premier Infusion, with locations in Atlanta and Austin, Texas.
With existing locations in Jacksonville, Fla., and the Dallas and Houston markets, both buys allowed CarePoint to expand its footprint in those states, said CEO Dana Soper.
"Those acquisitions really put...
CarePoint likes Texas market
February 27, 2011Theresa Flaherty, Managing Editor
CINCINNATI - Home infusion provider CarePoint Partners continues to build its network, acquiring Houston-based ivA Lifetec, it announced Jan. 18.
"Texas is a focus for them," said Jonathan Sadock, partner and CEO of Paragon Ventures, a Philadelphia-based M&A firm. "They are a good company to keep an eye on. I think you are going to see them perform well."
CarePoint is backed by Chicago-based Waud Capital Partners, a private equity firm. It formed in 2007 to acquire and develop a network of home...