| --- | --- | --- | --- | |-------|-------|---------|-------| | | | | | | | | Q1 2020 | | Disclaimer This communication may contain "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "believe," "project," "estimate," "expect," "may," "should," "will" and similar references to future periods. Examples of forward-looking stateme ...

| --- | --- | --- | --- | |-------|-------|---------|-------| | | | | | | | | Q4 2019 | | Disclaimer This communication may contain "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "believe," "project," "estimate," "expect," "may," "should," "will" and similar references to future periods. Examples of forward-looking stateme ...

Option Care Health, Inc (BIOS) Q3 2019 Earnings Conference Call November 6, 2019 8:30 AM ET Company Participants John Rademacher - Chief Executive Officer Mike Shapiro - Chief Financial Officer Conference Call Participants David MacDonald - SunTrust Brooks O'Neil - Lake Street Capital Markets Jason Plagman - Jeffries Mike Petusky - Barrington Research Richard Close - Canaccord Operator Ladies and gentlemen, thank you for standing by. And welcome to the Option Care Health Third Quarter 2019 Earnings Conferen ...

Financial Data and Key Metrics Changes - In Q4 2018, net revenue grew by 7.8% compared to Q4 2017, despite a bad debt adjustment of $7.5 million that impacted both net revenue and adjusted EBITDA [21] - Adjusted EBITDA for Q4 2018 was $11.6 million, or $19.2 million before the bad debt adjustment, compared to $17.1 million in the prior year quarter, reflecting an approximate 12% increase [21] - For the full year 2018, adjusted EBITDA was $45.1 million, or $52.6 million before the bad debt adjustment, compared to $45 million in the prior year, marking a 16.8% increase [22] Business Line Data and Key Metrics Changes - The merger with Option Care is expected to create a combined company with pro forma annual revenue exceeding $2.6 billion and pro forma adjusted EBITDA exceeding $200 million, including synergies [13][52] - The combined company anticipates annual run-rate cost synergies of at least $60 million within two years [13][49] Market Data and Key Metrics Changes - The U.S. infusion industry is approximately $100 billion, with home and alternate site infusion accounting for about $12 billion, projected to grow at 5% to 7% per year [46] - The combined company will cover 96% of the U.S. population with facilities in 46 states, enhancing its market reach [38] Company Strategy and Development Direction - The merger aims to create a leading independent provider of home and alternate site infusion services, enhancing the ability to serve more patients with cost-effective care [10][14] - The combined company will focus on delivering high-quality, cost-effective solutions and will leverage its national footprint to capitalize on growth opportunities in a fragmented market [10][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the merger's potential to drive significant value for shareholders and improve the combined company's financial flexibility [12][41] - The leadership team emphasized the importance of maintaining a patient-centered approach and the ability to adapt to the evolving healthcare landscape, particularly in value-based care [64][68] Other Important Information - The transaction has been unanimously approved by the Boards of Directors of both BioScrip and Option Care and is subject to customary closing conditions [42] - The combined company's capital structure is expected to enhance cash flow and provide the capacity to pay down debt while investing in growth opportunities [55] Q&A Session Summary Question: How does the merger impact value-based care conversations with payers? - Management indicated that the scale and resources from the merger will enhance relationships with payers and support value-based care initiatives [64] Question: What are the top areas for investment with the new financial flexibility? - The focus will be on funding growth through people, technology, and quality systems, as well as implementing synergies from the merger [71] Question: Can you provide details on Option Care's historical financial performance? - Option Care has delivered above-market topline growth since its separation from Walgreens, with a focus on driving EBITDA growth faster than revenue [75][76] Question: Where will the $60 million in synergies come from? - Synergies are expected from procurement efficiencies, operational efficiencies, and streamlining administrative services [77] Question: What is the expected post-close share count and cash position of the combined company? - The post-close share count is expected to be approximately 682 million shares, with a strong liquidity profile due to committed financing [81] Question: What are the expected margins for Option Care moving forward? - Management noted that while some specialty products have lower margins, investments in operational efficiencies are expected to improve overall margins [88] Question: Will there be any revenue synergies from the merger? - While specific revenue synergies were not included in the initial estimates, management anticipates opportunities for revenue growth as the companies integrate [95][97]

bio & scrip® Infusion Services option care® A LEADING PROVIDER OF HOME INFUSION AND ALTERNATE SITE INFUSION THERAPY DISCLAIMER This communication, in addition to historical information, contains "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995) regarding, among other things, future events or the future financial performance of BioScrip and Option Care. All statements other than statements of historical facts are forward-looking statements. In addition, words s ...

BIOSCRIP, INC. INVESTOR PRESENTATION January 2019 NASDAQ: BIOS THE LARGEST INDEPENDENT NATIONAL PROVIDER OF HOME INFUSION SOLUTIONS DISCLAIMER Certain statements in this presentation and other oral or written statements made by the Company from time to time may constitute "forward-looking statements" that involve substantial risks and uncertainties, including the statements regarding 2018 guidance, projections of certain measures of the Company's results of operations, projections of future levels of certai ...