Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - Option Care Health, Inc. | y87223e8vk.htm |
| EX-99.1 - EX-99.1 - Option Care Health, Inc. | y87223exv99w1.htm |
| EX-10.1 - EX-10.1 - Option Care Health, Inc. | y87223exv10w1.htm |
Exhibit 99.2
NEWS RELEASE
BIOSCRIP NAMES RICHARD M. SMITH AS CHIEF EXECUTIVE OFFICER
Richard H. Friedman to Step Down as CEO and Serve as Non-Executive Chairman
Elmsford, NY – November 2, 2010 – BioScrip (Nasdaq: BIOS) today announced that Richard “Rick” M.
Smith, currently President and Chief Operating Officer, has been named Chief Executive Officer,
effective January 1, 2011. Mr. Smith will replace Richard H. Friedman, currently Chairman of the
Board and Chief Executive Officer (CEO), who will be stepping down as CEO to serve as Non-Executive
Chairman of the BioScrip Board of Directors, effective January 1, 2011.
“Rick has made significant improvements to the operations of BioScrip – as demonstrated by the
successful integration of the Critical Homecare Solutions acquisition – and now is the perfect time
to transition leadership over to him,” said Mr. Friedman. “Having spent more than a decade at
BioScrip in various executive management and Board Member roles, I’m proud to have been a part of
the company’s transformation into a key player in the specialty pharmacy and home infusion
industry. I’m enthusiastic about Rick leading BioScrip into the company’s next phase of growth.”
“It’s an exciting time to lead BioScrip given our strong position in the industry,” said Mr. Smith.
“We have many great assets and I look forward to building an organization based on accountability,
growing value through leveraging core competencies, and maximizing margins and operating cash flow
generation.”
“On behalf of BioScrip’s Board of Directors and the entire BioScrip team, I want to express our
deep appreciation for Rich’s many contributions and dedication to the company during the past 14
years, particularly the past four years when he reassumed the role of CEO,” said Mr. Stuart A.
Samuels, a member of BioScrip’s Board of Directors and the Chairman of the Company’s Management
Development and Compensation Committee. “We look forward to Rich’s continued commitment to the
success of BioScrip in the role of Non-Executive Chairman, which will facilitate Rick’s smooth
transition to CEO.”
About Richard “Rick” M. Smith
Prior to today’s appointment, Mr. Smith has served as President and Chief Operating Officer of
BioScrip , since January 2009. Prior to joining the Company, from June 2006 to December 2008, Mr.
Smith was Chief Executive Officer and a director of Byram Healthcare Centers, Inc., a provider of
medical supplies and pharmacy items to long term chronic patients. From May 2003 to May 2006, Mr.
Smith was the President and Chief Operating Officer of Option Care, Inc., a home infusion and
specialty pharmaceutical company.
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.
PAGE 2: BIOSCRIP NAMES RICHARD M. SMITH AS CHIEF EXECUTIVE OFFICER
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.
Contacts:
Stanley G. Rosenbaum
BioScrip, Inc.
Executive Vice President and Chief Financial Officer
Tel: (952) 979-3768
BioScrip, Inc.
Executive Vice President and Chief Financial Officer
Tel: (952) 979-3768
Ed Trissel
Joele Frank, Wilkinson Brimmer Katcher
Tel: (212) 335-4449
Joele Frank, Wilkinson Brimmer Katcher
Tel: (212) 335-4449