BioScrip, Inc. (NASDAQ:BIOS) Q3 2019 Earnings Conference Call - Final Transcript

Nov 06, 2019 • 08:30 am ET


BioScrip, Inc. (NASDAQ:BIOS) Q3 2019 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to the Option Care Health Third Quarter 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator instructions] I would now like to hand the conference over to Chief Financial Officer, Mike Shapiro. Thank you. Please go ahead, sir.

Mike Shapiro

Thanks, Bridget. Good morning and thank you for joining us for the Option Care Health third quarter earnings call. I'm joined this morning by John Rademacher, Chief Executive Officer of Option Care Health. Before we begin, please note that during the call, we will make certain forward-looking statements that reflect our current views related to our future financial performance, future events and industry and market conditions. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from our comments. We encourage you to review the information in the reports we filed with the SEC regarding the specific risks and uncertainties. You should also review the section entitled forward-looking statements in this morning's press release.

During the call, we'll use non-GAAP financial measures when talking about the Company's performance and financial condition. You can find additional information on these non-GAAP measures in this morning's press release posted on the Investor Relations portion of our website. And with that I'll turn the call over to John.

John C. Rademacher

Thanks, Mike, and good morning, everyone. And thank you for joining us on what is our first earnings call as one organization. By now, hopefully, you have seen our press release sharing our results for the third quarter. On behalf of the entire leadership team and the over 6,000 team members of Option Care Health, I'm thrilled to share an update on our efforts to integrate and set the standard for alternate site infusion therapy.

Overall, I am very pleased with the progress we have made and I'm very proud of how our two businesses have come together in a short time frame to begin building a truly extraordinary organization as one team with a unified purpose. I want to spend a few minutes reviewing the high-level financial results before revisiting the merits of the merger and providing an update on the progress over the past 90 days. Mike will walk you through the financial results for the quarter in a bit more detail. But I do want to reiterate that as a result of the merger on August 6, our performance as released this morning, represents a full quarter of Option Care and incorporates legacy BioScrip's results from the date of the merger through the end of the quarter. So the results as reported do not represent a full quarter's results as a merged enterprise.

While we are not providing pro forma results for the quarter, we'll try to frame the results on a comparable full-quarter basis where possible. Net revenue for the quarter was $615.9 million, representing a 24.7% growth over the prior year