Recent Updates — OPCH

An investor group comprised of affiliates of Clayton, Dubilier & Rice (CD&R) and McKesson Corporation has entered into a definitive merger agreement to acquire Option Care Health for $32.05 per share in cash, representing a total enterprise value of approximately $5.8 billion. The transaction values the company at a 37% premium to its October 5 closing price. CD&R will hold a majority interest of approximately 51%, while McKesson will acquire a minority stake for roughly $1.4 billion. The deal is expected to close in the first half of calendar year 2027, subject to stockholder approval and regulatory clearances, including Hart-Scott-Rodino review. Upon closing, Option Care Health will become a privately held subsidiary. Option Care Health operates as the nation's largest independent provider of home and alternate site infusion services.

Option Care Health reported second quarter 2026 financial results with net revenue of $1,442 million, a 1.9% increase year-over-year. GAAP diluted earnings per share rose 12.9% to $0.35, while adjusted diluted EPS increased 9.8% to $0.45. Adjusted EBITDA grew 3.0% to $117.5 million, and operating cash flow was $184 million. The company repurchased $150 million of shares during the quarter. Management updated full-year guidance, projecting net revenue between $5.675 billion and $5.775 billion, adjusted diluted EPS of $1.85 to $1.92, and adjusted EBITDA of $480 million to $495 million. Option Care Health is the nation’s largest independent provider of home and alternate site infusion services.