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Option Care in Acquisition Mode
Bannockburn, Ill. Option Care has reached an agreement to acquire the infusion and home health operations of Affiliated Health Services, a public district hospital in Mount Vernon, Wash. Terms of the deal were not disclosed. Under the agreement, Option Care will provide home care services to the public district hospital system, licensed for 237 beds.
Raj Rai, Option Care's president and chief operating officer, said the acquisition not only will add significant value to the company's home care business, it also will enhance revenue and increase the company's penetration of current markets.
In other news, Option Care has reached an agreement with LaSalle Bank National Association to increase its line of credit by $15 million for a total of $40 million. The funds will be used to expand the company's core alternate-site infusion and specialty pharmacy businesses. Option Care and its Optionet subsidiary have also reached an agreement to provide home IV therapy services to Aetna U.S. Healthcare members throughout the United States. Neither the number of members served nor the value of the agreement was disclosed. -S.H.
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