Option Care Health, Inc. reported significant financial performance for the fiscal year ending December 31, 2024, with net revenue reaching $4.998 billion, a 16.2% increase from $4.302 billion in 2023. The company's gross profit also rose to $1.013 billion, up from $981 million, although the gross profit margin decreased to 20.3% from 22.8% due to the introduction of higher-cost therapies and changes in procurement dynamics. Net income for the year was $211.8 million, a decline of 20.7% from $267.1 million in the previous year, primarily attributed to the absence of a significant termination fee received in 2023 related to the Amedisys merger agreement.
In terms of operational developments, Option Care Health expanded its service offerings and geographic reach, operating 185 locations across 43 states. The company employed approximately 6,015 full-time and 2,073 part-time staff, with a focus on enhancing patient care through a multidisciplinary team of clinicians. The infusion services segment, which includes therapies for chronic and acute conditions, accounted for the majority of revenue, with notable growth in both acute and chronic therapy revenues. The company also reported a 12% increase in revenue from government payers, reflecting its strong position in the home infusion market.
Strategically, Option Care Health has been active in acquisitions, including the recent purchase of Intramed Plus, Inc. for approximately $117 million, which is expected to enhance its service capabilities in the Southeastern United States. The company also completed a significant share repurchase program, buying back $250 million worth of its common stock in 2024, which reflects its commitment to returning value to shareholders. The company’s focus on maintaining strong relationships with managed care organizations and pharmaceutical manufacturers remains critical to its growth strategy.
Looking ahead, Option Care Health anticipates challenges due to potential reductions in procurement spreads for certain therapies, which could negatively impact gross profit by an estimated $60 million to $70 million in 2025. The company is also navigating a competitive landscape, with pressures from managed care organizations and evolving market conditions. Despite these challenges, Option Care Health remains optimistic about its growth trajectory, driven by its commitment to quality care and operational efficiency. The company expects to leverage its national presence and clinical expertise to continue expanding its market share in the home infusion services sector.
About Option Care Health, Inc.
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