Option Care Enterprises Inc. and BioScrip Inc. completed their merger, forming an independent provider of home and alternate-site infusion services.
The combined company will be called Option Care Health Inc. and will be listed on the Nasdaq Global Select Market under the ticker symbol BIOS. Option Care Health will based in Bannockburn, Ill.
The merger brings together Denver-based BioScrip, a provider of infusion and home care management solutions in the U.S., and Option Care, a provider of home and alternate treatment site infusion services for acute and chronic patients in the U.S.
Option Care CEO John Rademacher will lead the combined company. BioScrip President and CEO Daniel Greenleaf will serve as a special adviser to the merged company's board, which will be led by Harry Kraemer, the former chairman and CEO of Baxter International Inc.
Under the deal, BioScrip issued new shares to Option Care's shareholder, which is owned by investment funds affiliated with Chicago-based private equity firm Madison Dearborn Partners LLC and retail pharmacy chain Walgreens Boots Alliance Inc., in an all-stock transaction.