BioScrip Acquires Northland Pharmacy; Expands Community Pharmacy Model
11 Octobre 2005 - 3:20PM
Business Wire
BioScrip, Inc. (NASDAQ:BIOS) today announced that it has acquired
Northland Medical Pharmacy ("Northland"), a community-based
specialty pharmacy, located in Columbus, Ohio. Henry F.
Blissenbach, BioScrip's President and Chief Executive Officer
commented, "We are very excited to be able to add Northland to
BioScrip's family of community-based specialty pharmacies. We are
fortunate to partner with Northland and its founder, Jim DiCello,
whose multi-specialty community pharmacy is consistent with and
clearly complements BioScrip's expanding community model." As
previously reported, one of BioScrip's key strategic initiatives
involves the expansion of its community-based pharmacy model. Added
Blissenbach, "Northland has successfully grown its business over
time by expanding its capabilities and focus across an increasing
number of specialty pharmacy therapy categories. Northland's
success is representative of the opportunity we see to expand the
number of therapies offered within our existing 30 community
specialty pharmacies." The purchase price consists of approximately
$12 million in cash, plus a potential earn-out payment contingent
on achieving certain future performance benchmarks. Northland
currently generates approximately $25 million in annual revenue.
BioScrip expects Northland to be accretive to earnings per share in
calendar 2006. About BioScrip, Inc. BioScrip provides comprehensive
pharmaceutical care solutions. We partner with healthcare payors,
pharmaceutical manufacturers, government agencies, physicians, and
patients to deliver cost effective programs that enhance the
quality of patient life. We focus our products and services in two
core areas: Specialty medication distribution and clinical
management services, both nationally and community-based; and
Pharmacy Benefit Management services. Our specialty medication
distribution capabilities include condition-specific clinical
management programs tailored to improve the care of individuals
with complex health conditions such as HIV/AIDS, Cancer, Infusion
IVIG, Hepatitis C, Rheumatoid Arthritis, Multiple Sclerosis, and
Transplantation. Our complete pharmacy benefit management programs
include customized benefit plan design, pharmacy network management
and sophisticated reporting capabilities that deliver improved
clinical and economic outcomes. In addition, we have 30 community
pharmacy locations in 25 major metropolitan markets across the
U.S., providing nationwide access and clinical management
capabilities in a high-touch community-based environment. Forward
Looking Statements This press release may contain statements which
constitute forward looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including
statements regarding the intent, belief or current expectations of
the Company, its directors, or its officers with respect to the
future operating performance of the Company and our success with
respect to the integration and consolidation. Investors are
cautioned that any such forward looking statements are not
guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from
those in the forward looking statements as a result of various
factors. Important factors that could cause such differences are
described in the Company's periodic filings with the Securities and
Exchange Commission.
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