BioScrip Provides Update on Annual Form 10-K Filing Status
15 Mars 2018 - 10:30PM
Business Wire
BioScrip, Inc. (NASDAQ: BIOS) ("BioScrip" or the "Company"), the
largest independent national provider of infusion and home care
management solutions, today announced that it will be filing a Form
12b-25 with the U.S. Securities and Exchange Commission to
automatically extend the date for filing its Annual Report on Form
10-K for the year ended December 31, 2017 by 15 days in order to
finalize the accounting review announced in its earnings release
dated March 8, 2018. As previously disclosed, the Company, as part
of its accounting review prior to filing the Form 10-K, identified
a series of transactions incorrectly accounted for predominately
related to certain balance sheet suspense and clearing accounts.
These errors appear clerical in nature. The Company plans to
disclose a material weakness related to this matter. The accounting
review is nearing completion and the Company expects to be able to
file timely its upcoming Form 10-K.
About BioScrip,
Inc.BioScrip, Inc. is the largest independent national
provider of infusion and home care management solutions, with
approximately 2,200 teammates and nearly 80 service locations
across the U.S. BioScrip partners with physicians, hospital
systems, payors, pharmaceutical manufacturers and skilled nursing
facilities to provide patients access to post-acute care services.
BioScrip operates with a commitment to bring customer-focused
pharmacy and related healthcare infusion therapy services into the
home or alternate-site setting. By collaborating with the full
spectrum of healthcare professionals and the patient, BioScrip
provides cost-effective care that is driven by clinical excellence,
customer service, and values that promote positive outcomes and an
enhanced quality of life for those it serves.
Forward-Looking Statements – Safe
HarborThis press release includes statements that may
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, including the
statements regarding 2017 guidance, projections of certain measures
of the Company's results of operations, projections of future
levels of certain charges and expenses, expectations of Home
Solutions cost synergies and incremental cost structure
improvements and other statements regarding the Company's financial
improvement plan and strategy and anticipated effects of the Cures
Act and the UnitedHealthcare contract. You can identify these
statements by the fact that they do not relate strictly to
historical or current facts. In some cases, forward-looking
statements can be identified by words such as "may," "should,"
"could," "anticipate," "estimate," "expect," "project," "outlook,"
"aim," "intend," "plan," "believe," "predict," "potential,"
"continue" or comparable terms. Because such statements inherently
involve risks and uncertainties, actual future results may differ
materially from those expressed or implied by such forward-looking
statements. 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 actual
results to differ materially from those in the forward-looking
statement include but are not limited to risks associated with: the
Company’s ability to make principal and interest payments on our
debt and unsecured notes and satisfy the other covenants contained
in its debt agreements; the Company’s ability to grow its core
Infusion revenues; the Company's ability to continue to execute its
financial improvement plan to reduce operating costs and focus its
business on its Infusion Services segment; the Company’s ability to
evaluate opportunities for improvement and implement solutions as
part of its strategic review process; the success of the Company’s
initiatives to mitigate the impact of the Cures Act on its
business; reductions in federal, state and commercial reimbursement
for the Company's products and services; increased government
regulation related to the health care and insurance industries; as
well as the risks described in the Company's periodic filings with
the Securities and Exchange Commission. The Company does not
undertake any duty to update these forward-looking statements after
the date hereof, even though the Company's situation may change in
the future. All of the forward-looking statements herein are
qualified by these cautionary statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20180315006480/en/
InvestorsBioScrip,
Inc.Stephen Deitsch, 720-697-5200Chief Financial Officer &
Treasurerstephen.deitsch@bioscrip.comorThe Equity GroupKalle Ahl,
CFA, 212-836-9614kahl@equityny.com
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