DENVER--(BUSINESS WIRE)--BioScrip, Inc. (NASDAQ: BIOS) ("BioScrip" or the "Company"), the largest independent national provider of infusion and home care management solutions, today announced that it will be filing a Form 12b-25 with the U.S. Securities and Exchange Commission to automatically extend the date for filing its Annual Report on Form 10-K for the year ended December 31, 2017 by 15 days in order to finalize the accounting review announced in its earnings release dated March 8, 2018. As previously disclosed, the Company, as part of its accounting review prior to filing the Form 10-K, identified a series of transactions incorrectly accounted for predominately related to certain balance sheet suspense and clearing accounts. These errors appear clerical in nature. The Company plans to disclose a material weakness related to this matter. The accounting review is nearing completion and the Company expects to be able to file timely its upcoming Form 10-K.
About BioScrip, Inc.
BioScrip,
Inc. is the largest independent national provider of infusion and home
care management solutions, with approximately 2,200 teammates and nearly
80 service locations across the U.S. BioScrip partners with physicians,
hospital systems, payors, pharmaceutical manufacturers and skilled
nursing facilities to provide patients access to post-acute care
services. BioScrip operates with a commitment to bring customer-focused
pharmacy and related healthcare infusion therapy services into the home
or alternate-site setting. By collaborating with the full spectrum of
healthcare professionals and the patient, BioScrip provides
cost-effective care that is driven by clinical excellence, customer
service, and values that promote positive outcomes and an enhanced
quality of life for those it serves.
Forward-Looking Statements – Safe Harbor
This
press release includes statements that may constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995, including the statements regarding 2017 guidance,
projections of certain measures of the Company's results of operations,
projections of future levels of certain charges and expenses,
expectations of Home Solutions cost synergies and incremental cost
structure improvements and other statements regarding the Company's
financial improvement plan and strategy and anticipated effects of the
Cures Act and the UnitedHealthcare contract. You can identify these
statements by the fact that they do not relate strictly to historical or
current facts. In some cases, forward-looking statements can be
identified by words such as "may," "should," "could," "anticipate,"
"estimate," "expect," "project," "outlook," "aim," "intend," "plan,"
"believe," "predict," "potential," "continue" or comparable terms.
Because such statements inherently involve risks and uncertainties,
actual future results may differ materially from those expressed or
implied by such forward-looking statements. 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 cause actual
results to differ materially from those in the forward-looking statement
include but are not limited to risks associated with: the Company’s
ability to make principal and interest payments on our debt and
unsecured notes and satisfy the other covenants contained in its debt
agreements; the Company’s ability to grow its core Infusion revenues;
the Company's ability to continue to execute its financial improvement
plan to reduce operating costs and focus its business on its Infusion
Services segment; the Company’s ability to evaluate opportunities for
improvement and implement solutions as part of its strategic review
process; the success of the Company’s initiatives to mitigate the impact
of the Cures Act on its business; reductions in federal, state and
commercial reimbursement for the Company's products and services;
increased government regulation related to the health care and insurance
industries; as well as the risks described in the Company's periodic
filings with the Securities and Exchange Commission. 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.
