BioScrip’s stock soars after merger deal with Option Care, owned by Walgreens and Madison Dearborn


Shares of BioScrip Inc.
bios
soared 32% toward a 4-year high in premarket trade Friday, after the company announced a deal to merge with privately held Option Care Enterprises Inc., a provider of home and alternate treatment site infusion therapy services owned by funds affiliated with Walgreens Boots Alliance Inc.
WBA,
+1.34%
and private-equity firm Madison Dearborn Partners LLC (MDP). BioScrip’s stock is halted for news until 7:30 a.m. Eastern. Under terms of the agreement, BioScrip will issue new shares to Option Care’s shareholder and Walgreens and MDP will own about 80% of the combined publicly traded company. BioScrip’s market capitalization was about $446.9 million as of Thursday’s close. “This is a compelling and complementary fit of two leading players in the U.S. infusion market,” said BioScrip Chief Executive Daniel Greenleaf. “Together, we will be able to provide a diverse set of life-improving and cost-effective services to more patients across the United States.” BioScrip’s stock has rallied 31% over the past 12 months, while the SPDR Health Care Select Sector ETF
XLV,
-0.11%
has gained 6.9% and the Dow Jones Industrial Average
DJIA,
+0.69%
has tacked on 3.4%.


View more information: https://www.marketwatch.com/story/bioscrip-to-merge-with-option-care-owned-by-walgreens-and-madison-dearborn-2019-03-15

Articles in category: moneyist
See also  The IRS just sent out another round of child-tax credit payments. Here’s what to do if you didn’t receive yours

Leave a Reply

Back to top button