Walgreens former infusion services business has been relaunched as Option Care, a new, independent infusion services company.
Option Care is the new, independent infusion services company previously known as Walgreens Infusion Services. The new name and company branding comes after Walgreens sold a majority stake in the business to Chicago-based Madison Dearborn Partners (MDP), a leading private equity firm. Walgreens continues to maintain a significant minority share of the company and has three of the nine seats on the new company’s Board of Directors.
Option Care is dedicated on the US infusion market, which is a market growing by ten percent every year, according to Paul Mastrapa, CEO of Option Care.
Option Care’s name is already well known among patients and providers. Walgreens acquired an independent infusion company called Option Care in 2007. Prior to its acquisition, Option Care had operated as a local and regional leader for more than 20 years. The company is one of the nation’s largest providers of home and alternate site infusion services and has the ability of to serve more than 90 percent of the US population, with 92 infusion pharmacies and 110 alternate treatment sites in 40 states.
While some patients require infusions administered in a physician’s office or a hospital setting, many can receive infusions in alternate sites, such as infusion-based suites or in patients’ homes. Option Care delivers a vast majority of services in the home setting. According to Mastrapa, 95 percent of services Option Care delivers are in patients home. The company employees over 1,000 nurses today, whose primary jobs are to train and ensure safe and effective administration services.
“Option Care allows people across the country to receive high quality medical services at home and in other patient-preferred, comfortable and cost-efficient settings,” said Mastrapa. “The infusion market is growing approximately ten percent per year, and Option Care is positioned to provide exceptional clinical care every step of the way. We’re a strategic health care partner that can continue to make emerging therapies readily accessible throughout the country, serving the rapidly increasing number of Americans who rely on these treatments.”
Mastrapa believes that the Affordable Care Act (ACA) will accelerate the overall growth in the infusion market, due to an increased access to insurance coverage and increasing pressure for health care providers to cut costs.
In a conference call, Mastrapa said that while many factors determine savings, in comparison to the hospital setting, administering infusion services in the home can be ten times less expensive. He said that a core part of Option Care’s model is to help get patients as independent as possible.
Option Care said that it has about 10 percent of the $14 billion infusion services market.
Source: Option Care
Last updated: 5/19/15; 6:00pm EST