Option Care Health Inc. (NASDAQ: OPCH), a leading independent national supplier of home and alternate-site infusion services, announced that John C. Rademacher, Chief Executive Officer, and Mike Shapiro, Chief Financial Officer, will participate in various virtual conferences.
At last check, shares of Option Care Health Inc. (OPCH) were up 1.68% at $18.2. OPCH stock closed the last session at $17.90, increasing 1.19% or $0.21. Shares of the company fluctuated between $17.635 and $17.945 throughout the day. The shares of Option Care Health Inc. have advanced 4.74% in the last five days; however, they have lost -5.29% over the last month.
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First Quarter 2021 Financial Report
Net revenue of $759.2 million, saw a rise of 7.6% vs $705.4 million in the same quarter of the previous year. Gross profit of $165.5 million, or 21.8% of net revenue, had a rise of 4.7% in comparison to $158.0 million, or 22.4% of revenue, for the same period of the prior year
Net loss of $2.9 million, or $0.02 loss per share, from a net loss of $19.9 million, or $0.11 loss per share, in the quarter of the previous year. Adjusted EBITDA of $52.2 million, had an increment of 30.0% in comparison to $40.2 million in the first quarter of 2020
Cash flow from operations of $18.4 million versus cash flow of $18.4 million in the first quarter of the prior year. Cash balances of $109.4 million as the first quarter completed and no outstanding borrowings on the Company’s $175.0 million revolver.
Business Highlights
Retired all outstanding second lien debt with increased first lien debt in accordance to the Company’s existing credit contract; recorded a debt extinguishment cost of $12.4 million linked with the refinancing
Released Amondys 45™ (casimersen), to treat Duchenne muscular dystrophy in patients with the confirmed mutation, and Uplizna, for the treatment of neuromyelitis optica spectrum disorder
Initiated operations at the Company’s latest, next-generation Care Management Center and Chronic Center of Excellence in Chicago, Illinois.OPCH purchased specific chronic therapy infusion assets fromBioCureRx at a price of $18.5 million.
Conclusion
Participation of John C. Rademacher, Chief Executive Officer of OPCH, in various virtual conferences surged investor expectation for the company, with OPCH stock price slightly increasing at last check.
