Apple Stock Dips as Tim Cook Steps Down, John Ternus Named Next CEO 
Greg Abel Sells Berkshire Hathaway Stocks Managed by Former Investment Manager Todd Combs 
Ethiopian Airlines Expands Fleet with New Boeing 787 Dreamliner Order to Boost Global Routes 
SpaceX President Gwynne Shotwell Earns $85.8M as IPO Buzz Grows 
Anthropic CEO Meets Trump Officials to Discuss Powerful New AI Model Mythos 
Huawei Expands Vietnam Presence Through Strategic Partnership with SHB Bank 
OPmobility Reports Q1 Revenue Dip Amid Automotive Industry Slowdown 
Eli Lilly in Talks to Acquire Kelonia Therapeutics for Over $2 Billion 
Tesla Q1 Earnings Preview: Robotaxi Delays and SpaceX Merger Speculation Grow 
How Technology Is Reshaping Modern Business: From Operations to Customer Experience 
OpenAI's $20 Billion Cerebras Deal Signals Massive AI Infrastructure Push 
NVIDIA Acquisition Rumors Dismissed by Morgan Stanley as Strategically Flawed 
John Ternus Signals Apple’s Future with Product-First AI Strategy 
Indonesia and Toyota Explore $300M Bioethanol Investment to Boost Renewable Energy Goals 
J.P. Morgan Downgrades Essity AB on Rising Costs and Weak Earnings Outlook 
AEVEX Raises $320 Million in IPO Amid Surging Defense Sector Demand 
Nidec Stock Rises After Accounting Probe Report Eases Delisting Concerns 
DENVER, May 30, 2017 -- BioScrip, Inc. (NASDAQ:BIOS) ("BioScrip" or the "Company"), the largest independent national provider of infusion and home care management solutions, today announced that the Company has reached an agreement to continue to provide certain core product lines to UnitedHealthcare beyond September 30, 2017. With this agreement, BioScrip will retain approximately $35 million of annualized profitable core revenue.
“We value our relationship with UnitedHealthcare and are pleased with the revised mutually beneficial agreement. This new contract demonstrates the value that BioScrip provides to all stakeholders in the healthcare system,” said Daniel E. Greenleaf, President and Chief Executive Officer.
The Company continues to collaborate with UnitedHealthcare on contract transition plans, including its exit from other non-profitable product lines, and will update its 2017 revenue guidance when appropriate. The Company is reiterating its prior guidance for adjusted EBITDA in the range of $45.0 million to $55.0 million for full-year 2017.
About BioScrip
BioScrip, Inc. is the largest independent national provider of infusion and home care management solutions, with approximately 2,500 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.
Investor Contacts: Stephen Deitsch Chief Financial Officer & Treasurer T: (720) 697-5200 [email protected] David Clair ICR, Inc. T: (646) 277-1266 [email protected]
