Boston, MA 06/18/2013 (wallstreetpr) – The share prices of BioScrip Inc. (NASDAQ:BIOS) had surged by 5.27 percent to close at $15.79 per share for the end of last trading session on Monday. The shares of the company had been trading in the range of $15.32 to $16.16 per share during the day, thereby hitting new peaks. The shares of BioScrip Inc. (NASDAQ:BIOS) had thus recorded new 52 week high price level at $16.16 per share and 52 week low price level is at $6.14 per share.
BioScrip Inc. (NASDAQ:BIOS) is primarily engaged in providing pharmacy and home health services through partnership with physicians, hospitals, healthcare payors, pharmaceutical manufacturers and patients. The company had on Monday announced that it had reached a definitive agreement to proceed with the acquisition of CarePoint Partners Holdings LLC and its subsidiaries in a cash deal of $223 million.
The acquisition of CarePoint Partners, the leading national provider of home and alternate site infusion therapy for patients with complex, acute and chronic illnesses would enable BioScrip Inc. (NASDAQ:BIOS) to realize a future tax benefit of $45 million, thus making the aggregate value of the acquisition deal to $175 million. This combination of the two leading national home infusion companies are expected to generate higher revenues through approximately 100,000 patients for home infusion,
This announcement of the acquisition deal had surged the prices of BioScrip Inc. (NASDAQ:BIOS) to new peaks with heavy trading volumes. The company had witnessed the trade of 1.12 million shares on Monday, while the average trading volume of BioScrip Inc. (NASDAQ:BIOS) is at 585,849 shares per day.
BioScrip Inc. (NASDAQ:BIOS) presently holds 67.53 million shares outstanding in the market with an institutional ownership of 79 percent of its holdings.
