Home Solutions to be Acquired by BioScrip
Ropes & Gray served as legal counsel to HS Infusion Holdings, Inc. (Home Solutions) in its proposed sale to BioScrip, Inc., a leading national provider of infusion and home care management solutions. The combination of Home Solutions and BioScrip brings together two highly complementary core infusion services portfolios that will have greater scale and financial resources.
Home Solutions, headquartered in Hammonton, N.J., is a leading specialty infusion provider servicing approximately 14,000 patients annually throughout the Northeastern and mid-Atlantic regions of the United States. It is a privately held company, whose principal shareholder is KRG Capital Partners LLC.
Under the terms of the transaction, BioScrip will acquire substantially all of the assets and assume certain liabilities of Home Solutions and its subsidiaries for a total transaction consideration of $85 million at closing and additional contingent consideration in the form of restricted stock units.
The transaction, announced June 13, is expected to close in the third quarter of 2016, subject to certain closing conditions.
The Ropes & Gray team included private equity partner Craig Marcus, tax partner Aaron Harsh, executive compensation & employee benefits partner Loretta Richard, health care partner Timothy McCrystal, and private equity associate Christian Westra.