BioScrip was the largest independent national provider of infusion and home care management solutions, with approximately 2,100 teammates and nearly 70 service locations across the US at the time of our engagement.
THE START
Commenced services in late 2017. Market cap was approximately $315 million.
BIOS was referred to The Equity Group by an institutional shareholder who believed that the Company needed: a) a communications upgrade during ongoing turnaround / restructuring activities; and b) assistance in elevating its profile among appropriate investors.
Our Role
Conducted a Perception Study to assess investor and analyst sentiment. We presented the Study to management and to the Board.
Created a new, comprehensive investor presentation to communicate the turnaround underway, as well as management’s strategy for achieving profitable growth.
Planned and managed a strategic communications program.
Advised management to adopt a more conservative approach to near-term guidance.
Counseled on communication of long-term plan with key operating/financial objectives.
Prior to anticipated healthcare legislation of impact to the Company – proactively drafted news release messaging, and provided Q&A prep for management.
Drafted earnings releases, other announcements, and conference call scripts.
Prepared management for earnings call Q&A.
Arranged and attended meetings with new investors and analysts in various cities.
Managed the Company’s active investor conference calendar; attended conferences.
Earned the opportunity to serve as a trusted first point of contact; handled phone and email inquiries. Conducted due diligence calls with potential new investors and regularly engaged with existing shareholders and covering sell-side analysts.
Organized an Investor Day and corresponding tour of a Company facility; event was well-attended and subsequent research notes were quite positive. Several covering firms increased their respective price targets within days of the event.
Provided advisory on a range of subjects related to public company matters.
Provided market intelligence on an array of company and peer matters; created/maintained a sell-side estimates matrix.
Performed administrative duties, including arranging earnings calls, fulfilling requests for investment materials, printing materials for conferences, maintaining the email list, etc.
Developed investor communication and outreach plan to secure shareholder support for the Company’s merger with Option Care Health. Enhanced messaging surrounding the merits of the deal (created new talking points, improved the roadshow deck, proactively set up calls and in-person meetings with top shareholders).
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RESULTS
Market cap reached $500 million.
Research coverage initiated by an additional firm, Canaccord Genuity.
Arranged introductory meetings/calls with a number of institutions that became shareholders.
Company successfully completed its merger with Option Care Health in August 2019.
