Dallas, Texas 11/11/2013 (Financialstrend) – BioScrip Inc (NASDAQ:BIOS) continues to thrive as a clinical management solutions provider for the third quarter of 2013. its CEO and Director, Richard.M.Smith , announced that the pharmaceutical services provider the company had ‘delivered solid revenues’ for the quarter.
The successful third quarter was driven by a strategy which BIOS executives chose to call, ‘infusion expansion strategy.’ The strategy combined with a focus on nurturing the ‘core business’ has ensured that BIOS performed well beyond industry expectations.
The main success of the quarter was the completion of the process of acquiring CarePoint Partners. BIOS, is currently involved in the process of integrating the employees of CarePoint Partners. Following the acquisition, BioScrip needs to absorb over 600 people from the company distributed over 28 locations and more.
The CEO also admitted that the third quarter was also affected by some ‘head wind,’ especially in the segments which are not part of its core business operations.
Though, the spate issues have blotted the companies progress, BioScrip remains focussed on expanding, into the home infusion segment of the clinical management services industry, said CEO, Richard Smith.
The success of third quarter was also due to the revenue increase in the infusion segment. This was possible due to the completion of the clinical programs, executed through its network of resources and payors. Aided by the increase in the numbers of patients, the revenue growth curve has increased commented Bio Scrip executives.
Richard Smith, rather proudly, admitted that BioScrip is perhaps one of the few companies in this segment which have recorded a year on year growth in double-digits, especially in the infusion business.
For the next quarters, the company plans to make further inroads in the home infusion segment. It remains a fact that, in the past two years Bio Scrip has nearly commanded a sizeable segment of the market – through strategic relationships with both patient sources as well as payor community. Therefore, it cannot be denied that the clinical management services provider is well on the path to achieving higher revenues and growth for the next fiscal as well!
