BioScrip (NASDAQ: BIOS), a diversified provider of specialty medication distribution and clinical management services, has completed the acquisition of Intravenous Therapy Services (“ITS”), a specialty infusion pharmacy located in Burbank, CA. The transaction complements BioScrip’s strategic objective of expanding infusion operations nationally and enhances its ability to service acute and chronic patients on both the East and West coasts.
“We are excited about joining the BioScrip team,” said Marcel Sassola, III, Founder and CEO of ITS. “ITS has cultivated an excellent reputation with prestigious California-based healthcare payers, prescribers, nurses and other healthcare professionals. We wanted to find the right partner to fuel our growth and are delighted with the outcome of this transaction.”
“BioScrip has crafted a highly focused acquisition strategy within the infusion pharmacy sector,” said Julie Decker, FocalPoint’s Healthcare Strategic Operating Partner. “They have selected the highest quality regional providers in communities with critical catchment areas. ITS is a highly respected infusion therapy pharmacy and we feel that this transaction signals the acceleration of the latest round of industry consolidation.”
“With our knowledge of the specialty pharmacy landscape, FocalPoint is uniquely qualified to assist healthcare entrepreneurs in making the right decisions during this next wave of healthcare mergers and acquisitions,” commented Nishen Radia, Managing Director of FocalPoint. “We believe that in order to best serve our clients, we need to know the key players in all the major healthcare constituencies – providers, payers and manufacturers. Our ability to successfully execute this transaction demonstrates the value of this strategy.”
FocalPoint is an independent investment bank, specializing in mergers and acquisitions, private placements (both debt and equity), and financial restructurings. The firm’s primary focus is on middle-market companies with revenues between $10 million and $250 million in a diverse range of industries. FocalPoint has an active M&A healthcare practice within both specialty pharmacy and the pharmacy benefit management sectors.