BioScrip Appoints David W. Froesel, Jr. as Executive Vice President, Chief Financial Officer and Treasurer
01 Décembre 2010 - 1:00PM
Business Wire
BioScrip (NASDAQ: BIOS) today announced that David W. Froesel,
Jr. has been appointed Executive Vice President, Chief Financial
Officer and Treasurer effective today. Mr. Froesel will replace
Stanley G. Rosenbaum, who will be leaving the Company prior to
year-end.
“We welcome David to the BioScrip team and are pleased to have
an accomplished professional of his caliber leading our financial
operations. David was a key member of the executive team at
Omnicare for almost 14 years, where he served as Senior Vice
President and Chief Financial Officer from March 1996 until his
retirement in December 2009. Just prior to Mr. Froesel’s tenure at
Omnicare, revenues were approximately $400 million for the calendar
year 1995 and grew to approximately $6.2 billion in 2009. The Board
is confident that David’s industry experience and strategic
perspective will be invaluable to BioScrip in the ongoing
assessment of its business and its future growth initiatives and we
look forward to his contributions,” said Richard M. Smith,
President and Chief Operating Officer of BioScrip.
Mr. Smith added, “On behalf of everyone at BioScrip, I would
like to thank Stan for his service and leadership in creating a
strong foundation for future growth as our Chief Financial Officer.
We appreciate his commitment to working with David to effect a
smooth transition and we all wish him well in his future
endeavors.”
About David W. Froesel,
Jr.
During Mr. Froesel's time at Omnicare, the Company completed
over 100 acquisitions, raised in excess of $7 billion of capital
through the bank and public markets and consistently generated
significant positive operating cash flow. Additionally, Mr. Froesel
has extensive experience in restructuring, merger integration and
cost reduction activities.
Prior to joining Omnicare, Mr. Froesel was employed for 18 years
at Mallinckrodt Group, Inc., a $2.5 billion healthcare and
specialty chemical company. From May 1993 to February 1996, he was
Vice President of Finance and Administration at Mallinckrodt
Veterinary, Inc., a subsidiary of Mallinckrodt, Inc. From July 1989
to April 1993, he was worldwide Corporate Controller of
Mallinckrodt Medical, Inc., a subsidiary of Mallinckrodt, Inc. He
received a B.S. in Accounting from the University of Missouri-St.
Louis and an M.S. in Accounting from St. Louis University and is a
Certified Public Accountant.
About BioScrip
BioScrip, Inc. (www.bioscrip.com) (Nasdaq: BIOS) is a national
provider of specialty pharmacy and home care products and services
that partners with patients, physicians, hospitals, healthcare
payors and pharmaceutical manufacturers to provide clinical
management solutions and delivery of cost-effective access to
prescription medications. Our services are designed to improve
clinical outcomes for chronic and acute healthcare conditions while
controlling overall healthcare costs.
Forward Looking Statements-Safe
Harbor
Statements contained in this press release that express a
belief, expectation, anticipation or intent are considered
forward-looking statements and are protected under the Safe Harbor
of Private Securities Litigation and Reform Act. These
forward-looking statements are based on information available to
the Company today, and the Company assumes no obligation to update
statements as circumstances change. These forward-looking
statements may involve a number of risks and uncertainties, which
may cause the Company's results to differ materially from such
statements.
Forward-looking statements are subject to inherent risks and
uncertainties surrounding future expectations generally and may
differ materially from actual future experience. Risks and
uncertainties that could affect forward-looking statements include
the failure to realize synergies as a result of operational
efficiencies or revenue opportunities, the failure to successfully
integrate the businesses and operations from the CHS and
drugstore.com acquisitions, leverage core competencies or maximize
margins and operating cash flow generation, and the risks described
from time to time in the Company’s reports filed with the SEC,
including the Company’s annual report on Form 10-K for the year
ended December 31, 2009 and the Company’s quarterly reports on Form
10-Q for the quarters ended March 31, 2010 and June 30, 2010.
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