BioScrip Appoints Richard Smith as Chief Operating Officer
Nov 21, 2008 07:00:00 (ET)
ELMSFORD, N.Y., Nov 21, 2008 (BUSINESS WIRE) -- BioScrip, Inc. (BIOS, Trade ) today announced that Richard M. Smith, a leading healthcare executive, has been appointed as its President and Chief Operating Officer. Mr. Smith will report to Richard H. Friedman, BioScrip's Chairman and Chief Executive Officer, and will begin work on or before January 2, 2009, after a short transition period with his current employer.
Mr. Smith brings significant experience to BioScrip, including more than 14 years of increasingly senior positions at various public and private healthcare companies. Most recently, he was Chief Executive Officer (CEO) and Director of Byram Healthcare Centers, Inc., a provider of medical supplies and pharmacy items to long-term chronic patients. Previously, Mr. Smith was President and Chief Operating Officer of Option Care, Inc. (now part of Walgreens), a public home infusion and specialty pharmaceutical company, where his leadership contributed to consistent increases in revenue, market leadership, improved operating efficiencies and stronger cash flow generation. He also brought to Option Care a strong focus on the establishment of new specialty pharmacy and infusion clinical care programs. Mr. Smith also served as President and CEO and as a Director of Coram Healthcare where he successfully directed the establishment of Coram as a leader in infusion pharmacy and one of the early dedicated providers of specialty pharmacy services.
"Rick Smith is clearly a results-driven and entrepreneurial executive; we are pleased to have him join our senior management team," said Mr. Friedman. "His demonstrated track record of building specialty pharmacy programs, establishing clinical centers of excellence, driving market leadership, growing revenue and earnings, and increasing shareholder value will prove vital as BioScrip progresses to the next phase of its development."
About BioScrip, Inc.
BioScrip, Inc. ( www.bioscrip.com ) (BIOS, Trade ) is a specialty pharmaceutical healthcare organization that partners with patients, physicians, healthcare payors and pharmaceutical manufacturers to provide access to medications and management solutions to optimize outcomes for chronic and other complex healthcare conditions.
Forward Looking Statements
This press release may contain statements which constitute forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the intent, belief or current expectations of the Company, its directors, or its officers with respect to the future operating performance of the Company. 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 such differences are described in the Company's periodic filings with the Securities and Exchange Commission.
SOURCE: BioScrip, Inc.
In-Site Communications, Inc.
Lisa M. Wilson , 917-543-9932
lwilson@insitecony.com
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