BioScrip Completes Sale of Home Health Services Business to LHC Group

    BioScrip Completes Sale of Home Health Services Business to LHC Group

PR Newswire

ELMSFORD, N.Y., April 1, 2014

ELMSFORD, N.Y., April 1, 2014 /PRNewswire/ -- BioScrip^®, Inc. (NASDAQ: BIOS)
today announced that it has completed the previously announced sale of
substantially all of its Home Health business, known as Deaconess HomeCare, to
LHC Group, Inc. (NASDAQ: LHCG). The transaction represents a total deal value
of approximately $60 million. BioScrip intends to use the net proceeds from
the sale to pay down a portion of its outstanding debt.

"With the completion of the Home Health transaction, we now have additional
financial flexibility to continue building on BioScrip's solid foundation in
home infusion services," said Rick Smith, President and Chief Executive
Officer of BioScrip. "We continue to position BioScrip as a leader in the home
infusion industry. We look forward to optimizing the value of our assets while
maintaining our reputation for clinical excellence."

Mr. Smith continued, "Once again, we would like to express our appreciation
for all that the Deaconess employees have accomplished. We believe that with
LHC Group, the Deaconess family will achieve continued success."

Cain Brothers & Co., LLC acted as BioScrip's financial advisor in connection
with the transaction and Polsinelli PC acted as BioScrip's legal advisor.

About BioScrip, Inc.

BioScrip, Inc. is a leading national provider of infusion solutions. BioScrip
partners with physicians, healthcare payors, government agencies, hospital
systems and pharmaceutical manufacturers to provide patients access to
post-acute care services. BioScrip operates with a commitment to deliver
customer-focused pharmacy and related healthcare infusion therapy services in
alternate-site settings. By collaborating with the full spectrum of healthcare
professionals and the patient, BioScrip provides cost-effective care that is
driven by quality, customer service, and values that promote positive outcomes
and an enhanced quality of life for those it serves. BioScrip provides its
infusion services from 81 locations across 29 states.

FORWARD LOOKING STATEMENTS

This press release includes statements that may constitute "forward-looking
statements," including statements regardingthe Company'sgoals, performance
and strategy.These statements are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995.You can identify
these statements by the fact that they do not relate strictly to historical or
current facts. Investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from those in the
forward-looking statements as a result of various factors.Important factors
that could causeor contribute tosuch differences include but are not limited
to the risks described in the Company's periodic filings with the Securities
and Exchange Commission, including the Company's annual report on Form 10-K
for the year ended December 31,2013.The Company does not undertake any duty
to update these forward-looking statements after the date hereof, even though
the Company's situation may change in the future. All of the forward-looking
statements herein are qualified by these cautionary statements.

Investor and Media Contacts
Hai Tran
Chief Financial Officer, BioScrip, Inc.
952-979-3768

SOURCE BioScrip, Inc.
 
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