BioScrip Announces Amendment to Credit Agreement and New Senior Loan Facility
The amended Credit Agreement, together with the new senior loan facility, as approved by BioScrip’s lenders, includes the following benefits:
$25 million new senior loan facility from existing lenders, providing$19 million in incremental liquidity and a$6 million reduction in existing revolver balances- Revised covenants, under which the Company anticipates full compliance
- Revised commitment reduction schedule, which the Company believes it can comfortably manage
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Forward-Looking Statements - Safe Harbor
This press release includes statements that may constitute "forward-looking statements,” that involve substantial risks and uncertainties. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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 or contribute to such differences include but are not limited to risks associated with: the Company's ability to integrate the acquisition of Home Solutions, the Company's ability to grow its core Infusion revenues, the Company's ability to continue to experience positive results from its financial improvement plan to reduce operating costs; the Company’s ability to comply with the covenants in its debt agreements; 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
For Further Information: Investor ContactsJeffrey M. Kreger Chief Financial Officer (720) 697-5200 jeffrey.kreger@bioscrip.comDavid Clair ICR, Inc. (646) 277-1266 david.clair@icrinc.com