Tag: John Rademacher
Option Care pushes through disaster for strong quarter
November 1, 2024Theresa Flaherty, Managing Editor
BANNOCKBURN, Ill. – Despite disruption to its supply chain, Option Care Health’s quick and “aggressive” response allowed the provider to continue servicing patients, with minimal impact, CEO John Rademacher said.
In the aftermath of Hurricane Helene, flooding halted production of intravenous solution bags at the Baxter International plant in Marion, N.C.
“From the moment of the closure, needless to say, there were immediate actions that we took to not...
Option Care monitors ‘vigorous’ competition
March 1, 2024Theresa Flaherty, Managing Editor
BANNOCKBURN, Ill. – The trend of payers integrating with providers, including Elevance Health’s recent acquisition of Paragon Healthcare, a Texas-based infusion provider, is a shift that Option Care Health is keeping a close eye on, says CEO John Rademacher.
“They're vigorous competitors and so we take that full view as we're approaching the marketplace,” he said on a recent call to discuss the company’s fourth quarter and full year earnings. “Our...
Option Care delivers ‘strong results’
February 22, 2024HME News Staff
BANNOCKBURN, Ill. – Option Care Health reported revenue of $1.12 billion for the fourth quarter of 2023, an increase of 9.5% compared to the same quarter in 2022.
Revenue for the full year was $4.3 billion, up 9.1% compared to 2022. Gross profit for the quarter was $247.1 million and adjusted EBITDA was $111.6 million.
“The Option Care Health team delivered strong financial results in the fourth quarter and full year of 2023 and continued to execute on our commitment...
Option Care still bullish on buying
October 27, 2023Theresa Flaherty, Managing Editor
BANNOCKBURN, Ill. – Option Care Health still sees plenty of opportunity to grow through acquisitions, but it plans to stick closer to its core business of home infusion, said company execs on a recent earnings call.
It’s a sign the company has moved on from its terminated $3.6 billion merger in June with Amedysis, a provider of home health, hospice and high-acuity care.
“We really thought that Amedisys was unique in its capability set, certainly with its...
Option Care ‘builds momentum’ in Q3
October 25, 2023HME News Staff
BANNOCKBURN, Ill. – Option Care reported net revenue of $1.09 billion for the third quarter of 2023, an increase of 7.1% year over year, and net income of $56.3 million, an increase of 45%.
Gross profit was $254.3 million, up 16.6%, and adjusted EBITDA was $109.8 million, up 28.2%.
“The Option Care Health team continues to execute on outstanding clinical outcomes and extraordinary patient care, which helped translate into solid financial results in the third quarter,”...
Option Care leans on ‘momentum of base business’ in wake of failed deal
July 28, 2023Theresa Flaherty, Managing Editor
BANNOCKBURN, Ill. – Option Care will return nearly all of a $106 million break-up fee to shareholders, as the company moves on from its failed merger with Amedisys, said CEO John Rademacher.
Option Care announced in June that it had terminated its $3.6 billion merger with Amedisys, just weeks after the two companies announced the deal.
“Given the strength of our balance sheet and forward outlook, we believe it is appropriate to return essentially all of the break fee...
Option Care Health posts gains
July 27, 2023HME News Staff
BANNOCKBURN, Ill. – Option Care Health reported net revenue of $1.07 billion and net income of $114.4 million for the second quarter of 2023.
Gross profit was $250.8 million or 23.5% of net revenue, and adjusted EBITDA was $110.1 million for the quarter.
“The Option Care Health team executed on another solid quarter of financial results,” said John Rademacher, CEO. “Our commitment to providing unparalleled care that produces superior clinical outcomes makes...
Option Care, Amedisys scale up
May 5, 2023Theresa Flaherty, Managing Editor
BANNOCKBURN, Ill., and BATON ROUGE, La. – The merger of Option Care Health and Amedisys creates a home care giant with projected annual revenue of $6.2 billion that’s primed to serve a $100 billion addressable market for everything from prevention and maintenance care to acute and post-acute care to end-of-life care.
Option Care, the nation's largest independent provider of home and alternate site infusion services, and Amedisys, a leading provider of home health, hospice...
Option Care delivers strong quarter
May 4, 2023HME News Staff
BANNOCKBURN, Ill. – Option Care Health reported net revenue of $1.02 billion and net income of $39.2 million for the first quarter of 2023.
Gross profit was $229 million, or 22.5% of net revenue, up 14% compared to $200.9 million, or 21.9% of net revenue, in the first quarter of 2022. Adjusted EBITDA was $93.8 million, up 20.6% compared to $77.8 million.
"The Option Care Health team's commitment to providing extraordinary patient care in the post-acute and ambulatory...
NHIA announces new board chair, expands seats
March 8, 2023HME News Staff
ALEXANDRIA, Va. – Option Care CEO John Rademacher has been named chair of the board of directors for The National Home Infusion Association. He takes over from Tim Affeldt, who will transition into past chair. “We welcome John’s leadership and expertise at a critical time as the association continues to grow and diversify,” said Connie Sullivan, NHIA president and CEO. “His industry knowledge and perspective will be key advantages as NHIA advocates for appropriate payment...