Option Care Health, Inc. (“Option Care Health”) (Nasdaq: OPCH), the largest independent provider of home and alternate site infusion services in the United States, announced that it has completed the acquisition of Specialty Pharmacy Nursing Network Inc. (“SPNN”). SPNN is a national leader in providing highly skilled specialty nursing resources across a broad portfolio of healthcare providers with over 400 nurses across the country.
The acquisition builds upon the market-leading nursing platform Option Care Health established with its acquisition of Infinity Infusion Nursing LLC (“Infinity”) to expand access to clinical resources across the United States. Leveraging Option Care Health’s national infrastructure, the acquisitions of Infinity and SPNN establish a more comprehensive clinical platform focused on delivering extraordinary care. The consummation of the SPNN acquisition expands Option Care Health’s nursing team to more than 2,900 nurses nationwide.
“I am thrilled to welcome the entire SPNN team to the Option Care Health family. SPNN’s track record of growth and clinical expertise is unsurpassed and highly complementary to our relentless focus on reimagining the infusion care experience. The acquisition is a critical strategic investment to further enable our future growth”, commented John Rademacher, Chief Executive Officer of Option Care Health.
Option Care Health acquired SPNN on April 11, 2022, for $60 million in an all-cash transaction. SPNN will maintain its current operations and continue to serve a broad array of infusion providers, specialty pharmacies and biopharmaceutical manufacturers as a separate enterprise within Option Care Health.
About Option Care Health
Option Care Health is the largest independent provider of home and alternate site infusion services in the United States. With over 7,000 team members, including approximately 4,700 clinicians, we work compassionately to elevate standards of care for patients with acute and chronic conditions in all 50 states. Through our clinical leadership, expertise and national scale, Option Care Health is reimagining the infusion care experience for patients, customers and teammates.
The M&A market for healthcare companies continues to strengthen in 2022 ahead of projected increases in US capital gains taxes. There is unprecedented capital in market, the lowest interest rates in US history and strong acquirer motivations for high quality healthcare companies. Across the continuum of care, buyers and investors are looking for well established, profitable businesses and offering strong valuations and options for management.
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