BNET Industries

Market Cap:$298.0M
Last Fiscal Year Sales:$1.4B
  • Public
  • US
Dow Jones Description

We are 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. Our business is reported under two operating segments: (i) specialty pharmaceutical services ("Specialty Services"); and (ii) pharmacy benefit management ("PBM") services ("PBM Services"). Our Specialty Services include comprehensive support, dispensing and distribution, patient care management, data reporting as well as a range of other complex therapy management services for certain chronic health conditions. The medications we dispense include oral, injectable and infusible medications used to treat patients living with chronic and other complex health conditions and are provided directly to patients and physicians. Our PBM Services include pharmacy network management, claims processing, formulary and benefit design, clinical services, drug utilization review, discount prescription card programs and traditional mail order pharmacy fulfillment. ...

Chairman of The Board and CEO
Richard H. Friedman
Number of Employees 825
Contact Information

100 Clearbrook Rd

Elmsford, New York 10523

bioscrip.com

(914) 460-1600

NAICS Code Pharmacies and Drug Stores: 44611

Recent Events

  • BioScrip, Inc. Reports Third Quarter Earnings of $0.14 Per Share

    10/31/09 - Financial Announcement - View Story

  • BioScrip Appoints Richard M. Smith to Board of Directors

    9/11/09 - Board Member - Entering - View Story

  • Analyst Upgrades for August 4th

    8/04/09 - Bond / Stock Rating - View Story

  • BioScrip, Inc. Reports Second Quarter Earnings of $0.11 Per Share

    8/02/09 - Financial Announcement - View Story

News & Analysis

bioscrip inc. - All News and Analysis

Decision Makers

Name (plus bio) Position
Richard M. Smith President & COO
Doug Lee CIO & Vice President
Douglas A Lee Chief Information Officer
Gregory H Keane Cfo
Juliet A. Palmer CFO
Stanley Rosenbaum Chief Financial Officer
Tom Staloch Chief Technology Officer
Alfred Carfora Executive Vice President, Mail & PBM Services
Barry Posner Executive Vice President
Brian Reagan Executive Vice President, Infusion Services
Joseph Smith Executive Vice President Infusion and Aic Services
Scott W. Friedman Executive Vice President, Sales and Marketing
Stephen B. Cichy Executive Vice President, Managed Care and Marketing and Product Development
Thomas Ordemann Executive Vice President
Lois Murray Senior Vice President, Pharmaceutical Relations
Dan Colucci Vice President
Jeff Vigh Vice President, Sales & Client Services
John Brewer Vice President, Commmunity Pharmacy Division
Randi Abramowitz Vice President, Physician Sales
Russ J. Corvese Vice President, Mail Operations
Russel J. Corvese Vice President Mail Operations
Thomas Ordemman Vice President, Community Pharmacy Operations
William J. Nasgovitz
David R. Hubers Director
Henry Blissenbach Director
Myron Z. Holubiak Director
Stuart A. Samuels Director
Charlotte W. Collins Member
Louis T. Difazio Member
Martin Kooper Member

Board of Directors

Name (plus bio) Position
Richard H. Friedman Chairman of The Board and CEO
Richard L. Robbins Chairman
Charlotte W. Collns Board of Directors
Michael Kooper Board of Directors
Richard A. Cirillo Board of Directors
Steve Schelhammer Board of Directors

Richard H. Friedman, 58 , is currently the Chief Executive Officer and Chairman of the Board of Directors of the Company. He joined the Company in April 1996. From May 1996 through March 1998 he served as a director of the Company as well as its Chief Financial Officer and Chief Operating Officer. Mr. Friedman also served as the Company's Treasurer from April 1996 until February 1998. From April 1998 until March 2005 he served as the Company's Chief Executive Officer and Chairman of the Board, at which time he was appointed Executive Chairman of the Board following the Company's merger with Chronimed, Inc. ("Chronimed"). In June 2006, Mr. Friedman reassumed the role of Chief Executive Officer of the Company.

Organization Position Status
BioScrip Inc. Chairman of The Board and CEO Current
Chronimed, Inc. Chairman and Chief Executive Officer Current
BioScrip Inc. Director Former

Organization Position Status
BioScrip Inc. President & COO Current

Organization Position Status
BioScrip Inc. CIO & Vice President Current

Douglas A. Lee, 42, Chief Information Officer . Mr. Lee joined the Company as its Chief Information Officer in February 2007. Prior to joining the Company Mr. Lee was a principal in Resultares Consulting Inc., an executive information technology consulting firm, from November 2006 to February 2007. From August 2004 to November 2006 he was the Chief Information Officer of Option Care, Inc. From January 1998 to August 2004 he was a partner and Chief Information Officer of Technology Extension Consulting, Inc.

Organization Position Status
BioScrip Inc. Chief Information Officer Current
Chronimed, Inc. Vice President and Chief Information Officer Current

Organization Position Status
Bush Foundation Chief Financial Officer Current
BioScrip Inc. Cfo Current
Opportunity Partners Board Member Current
Chronimed, Inc. Controller Former
The Private Capital Group Head of Mergers and Acquisitions Former
University of Minnesota Bachelor of Science In Accounting Former

Organization Position Status
BioScrip Inc. CFO Current

Stanley G. Rosenbaum, 60, Executive Vice President, Chief Financial Officer and Treasurer . Mr. Rosenbaum joined the Company as its Executive Vice President, Chief Financial Officer and Treasurer in June 2006. From October 2003 to June 2005 he was a consultant for the Kerr Group, Inc. From October 2000 to April, 2003 he was Chief Financial Officer of Petropac Solutions, Inc., a private company servicing the petroleum industry.

Organization Position Status
BioScrip Inc. Chief Financial Officer Current
Chronimed, Inc. Executive Vice President, Chief Financial Officer and Treasurer Current
Revlon, Inc. Current
Simon & Schuster, Inc. Cfo, Consumer Publishing Former
Simon & Schuster, Inc. Vice President Former
Kerr Group, Inc. Consultant Former

Organization Position Status
BioScrip Inc. Chief Technology Officer Current
Chronimed, Inc. Chief Information Officer Former
Chronimed, Inc. Vice President Former
West Publishing Company Technology Positions Former
Merrill Corporation Technology Positions Former

Alfred Carfora, serves as the Executive Vice President of Mail and PBM Services for BioScrip Inc. Mr. Carfora was named to this position upon the consummation of the merger between MIM Corporation and Chronimed, Inc. effective March 2005. Mr. Carfora previously served as President and Chief Operating Officer of MIM. He joined MIM in October 2002 and was named President and Chief Operating Officer effective December 2002 . From 1999 until December 2002, he was retired. From March 1993 to December 1998, Mr. Carfora held the position of President and Chief Executive Officer of Duty Free International Inc., an international specialty retailer and New York Stock Exchange listed company.

Organization Position Status
Chronimed, Inc. Executive Vice President, Mail and Pbm Services Current
BioScrip Inc. Executive Vice President, Mail & PBM Services Current
NYSE Group, Inc. Former

Barry A. Posner, 45, Executive Vice President, General Counsel and Secretary . Mr. Posner joined the Company in March 1997 as General Counsel and was appointed Secretary of the Company at that time. In April 1998, Mr. Posner was appointed Vice President of the Company. In November 2001, he was appointed to the position of Executive Vice President of the Company.

Organization Position Status
BioScrip Inc. Executive Vice President Current
Chronimed, Inc. Executive Vice President, Secretary and General Counsel Current

Brian J. Reagan serves as Executive Vice President, Infusion Services for BioScrip Inc. Mr. Reagan was named to this position upon the consummation of the merger between MIM Corporation and Chronimed, Inc. effective March 2005. Mr. Reagan previously served as Vice President, Corporate Development for Chronimed, effective September 2002. Prior to that Mr. Reagan was President of Orchard Hill Partners, a business consulting firm since December 2000. Mr. Reagan's previous experience was in the investment banking industry. He was a Managing Director at John G. Kinnard & Company from 1998 to 2000 and held a variety of executive positions at Dain Rauscher Inc. from 1987 to 1998.

Organization Position Status
BioScrip Inc. Executive Vice President, Infusion Services Current
Chronimed, Inc. Vice President, Corporate Development Former

Joseph Smith, 50, Executive Vice President Infusion and AIC Services. Mr. Smith joined the Company as Executive Vice President, Infusion and AIC Services in February 2009. Prior to joining the Company, from March 2006 to June 2008 Mr. Smith was Chief Operating Officer and a director of ActiveCare Network, LLC, a network of clinics that provide infusion, injection and vaccine services for payors, pharmaceutical manufacturers and specialty pharmacy clients. From July 2001 to August 2005 Mr. Smith was Executive Vice President of Hemophilia Resources of America, Inc., a distributor of blood products to hemophilia patients. From March 1993 to June 2001 Mr. Smith held various positions with Coram Healthcare, Inc., a national provider of home infusion services and specialty pharmacy distribution, including Chief Operating Officer from December 1998 to July 2000. Richard M. Smith, 49, President and Chief Operating Officer. Mr. Smith joined the Company as its President and Chief Operating Officer in January 2009. Prior to joining the Company, from June 2006 to November 2008 Mr. Smith was Chief Executive Officer and a director of Byram Healthcare Centers, Inc. a provider of medical supplies and pharmacy items to long term chronic patients. From May 2003 to May 2006 Mr. Smith was the President and Chief Operating Officer of Option Care, Inc., a home infusion and specialty pharmaceutical company. Executive officers are appointed by and serve at the pleasure of the Board, subject to the terms of their respective employment and/or severance agreements with the Company. See "Employment and Severance Agreements" below.

Organization Position Status
BioScrip Inc. Executive Vice President Infusion and Aic Services Current
Activecare Network, LLC Chief Operating Officer Former
Infusion, Inc. Executive Vice President Former
Activecare Network, LLC Director Former

Scott W. Friedman serves as Vice President of Pharmaceutical Relations for BioScrip Inc. Mr. Friedman was named to this position upon the consummation of the merger between MIM Corporation and Chronimed, Inc. effective March 2005. Mr. Friedman was previously the Vice President of Pharmaceutical Relations for MIM effective January 2003. From 2000 to 2003 he was the Vice President of Marketing. Mr. Friedman joined MIM Corporation in 1998, serving in various Marketing roles for the company's PBM and Specialty Pharmacy business.

Organization Position Status
Chronimed, Inc. Executive Vice President, Sales and Marketing Current
Scrip Solutions, LLC Executive Vice President, Sales and Marketing Current
Statscript Executive Vice President, Sales and Marketing Current
BioScrip Inc. Executive Vice President, Sales and Marketing Current

Stephen B. Cichy, 38, Executive Vice President, Managed Care and Marketing and Product Development . Mr. Cichy joined the Company as Executive Vice President, Managed Care and Marketing and Product Development in March 2009. Prior to joining the Company, from August 2007 until March 2009, Mr. Cichy was Vice President of Product Development for Walgreens, Inc., a prescription drug retailer. From April, 2005 until September, 2007 he held various positions with Option Care, Inc., a specialty pharmacy provider, including Senior Director of Product Development and Vice President of Business Development and Commercial Operations. Option Care was acquired by Walgreens in September 2007. Prior to joining Option Care, from March 2003 to April 2005, Mr. Cichy was Director of New Product Planning for Caremark, Inc., a pharmacy benefit management and specialty pharmacy company.

Organization Position Status
BioScrip Inc. Executive Vice President, Managed Care and Marketing and Product Development Current
Product Development Corporation Executive Vice President, Managed Care and Marketing Former
Walgreen Option Care Former

Tom Ordemann, Vice President of Community Pharmacy Operations for BioScrip, Inc., joined the Company in July 2007 Mr. Ordemann was previously employed at Duane Reade, where he had served as Vice President of Operations for the New York Metropolitan region, with responsibility for 250 stores and over 6,500 associates. Prior to Duane Reade, Mr. Ordemann was regional Vice President for Eckerd Drug in the North Florida region, having risen through the ranks from pharmacy department manager to his latest position.

Organization Position Status
BioScrip Inc. Executive Vice President Current
BioScrip Inc. Vice President, Community Pharmacy Operations Former

Organization Position Status
BioScrip Inc. Senior Vice President, Pharmaceutical Relations Current

Organization Position Status
BioScrip Inc. Vice President Current
Scrip Solutions, LLC Vice President, Provider Affairs Former
Scrip Solutions, LLC Director of Sales and Marketing Operations Former
The University of New Mexico Bachelor of Business Administration Former

Organization Position Status
BioScrip Inc. Vice President, Sales & Client Services Current

John Brewer was named Vice President of Community Pharmacy Operations in October of 2006. Mr. Brewer joined MIM Corporation as the Vice President of Business Strategy in 2003 and has served in various acquisition and operational roles with the company's Community Pharmacy and Infusion Services divisions. Previously Mr. Brewer was a founder and COO of Group Practice Services, a company managing labs and diagnostic centers for large physician group practices.

Organization Position Status
BioScrip Inc. Vice President, Commmunity Pharmacy Division Current

Organization Position Status
BioScrip Inc. Vice President, Physician Sales Current

Russel J. Corvese serves as the Vice President of Mail Operations for BioScrip Inc. Mr. Corvese was named to this position upon the consummation of the merger between MIM Corporation and Chronimed, Inc. effective March 2005. Mr. Corvese previously served as the Vice President of Operations, Scrip Solutions, LLC, a wholly owned subsidiary of MIM. Prior to assuming that position, Mr. Corvese held the position of Chief Information Officer of MIM. From November 1997 to October 2000 he served as Vice President of Operations and Chief Information Officer of Scrip Solutions, LLC. From November 1996 through November 1997, Mr. Corvese held the position of Executive Director, Management Information Systems of Scrip Solutions, LLC. From May 1994 to November 1996, Mr. Corvese held various positions with Scrip Solutions, LLC.

Organization Position Status
BioScrip Inc. Vice President, Mail Operations Current
Scrip Solutions, LLC Chief Information Officer Former
Scrip Solutions, LLC Vice President, Operations Former
Scrip Solutions, LLC Executive Director, Management Information Systems Former

Russel J. Corvese, 47, Executive Vice President, Mail and Managed Care Operations . Mr. Corvese joined the Company in May 1994 and has held various positions including Vice President of Operations of the Company's subsidiary, BioScrip PBM Services, LLC, and Chief Information Officer of the Company.

Organization Position Status
BioScrip Inc. Vice President Mail Operations Current

Organization Position Status
BioScrip Inc. Vice President, Community Pharmacy Operations Current

Organization Position Status
BioScrip Inc. Current

Richard L. Robbins has served as a director since August 2006. Mr. Robbins served from October 2003 through January 2004 as Senior Vice President, Financial Reporting of Footstar, Inc., a nationwide retailer of footwear. He was Senior Vice President Financial Reporting and Control and Principal Financial Officer of Footstar, Inc. from January 2004 until March 2006. Footstar, Inc. filed for bankruptcy protection in March 2004 and emerged from bankruptcy in February 2006. From July 2002 to October 2003, Mr. Robbins was a partner in Robbins Consulting LLP, a financial, strategic and management consulting firm. From 1978 to 2002, Mr. Robbins was a partner of Arthur Andersen LLP. Mr. Robbins is currently a member of the board of directors of BioScrip, Inc. a provider of comprehensive specialty pharmacy and pharmacy benefit management services and of Vital Signs, Inc., a manufacturer of medical products.

Organization Position Status
Footstar, Inc. Senior Vice President, Financial Current
BioScrip Inc. Chairman Current
American Bank Note Holographics, Inc. Chairman Current
Chronimed, Inc. Director Current
Robbins-Consulting Partner Former
Footstar, Inc. Principal Financial Officer Former
American Bank Note Holographics, Inc. Board of Directors Former
Vital Signs, Inc. Board of Directors Current
Footstar, Inc. Board of Directors Former

Organization Position Status
BioScrip Inc. Board of Directors Current

David R. Hubers, 66 , has been a director of the Company since March 2005. Prior to being appointed a director of the Company he had served as a director of Chronimed since November 2000. Mr. Hubers was Chairman of American Express Financial Advisors Inc. prior to his retirement. He joined American Express Financial Advisors Inc. in 1965 and held various positions, including Senior Vice President of Finance and Chief Financial Officer until being appointed President and Chief Executive Officer in August 1993. He served in that capacity until June 2001. Mr. Hubers serves on the boards of directors of the Carlson School of Management at the University of Minnesota and Lawson Software, a publicly held software company. He is also Chairman of the Compensation Committee at Lawson Software.

Organization Position Status
Carlson School of Management Board of Directors Current
Vastech, Inc. Director Current
BioScrip Inc. Director Current
National Council On Economic Education Director Current
Lawson Software, Inc. Board of Directors Current
Lawson International AB Director Current
BioScrip Inc. Member Current
University of Minnesota Chairman Former
Ameriprise Financial, Inc. Chairman Former
Chronimed, Inc. Director Former
University of Minnesota M.B.A. Degrees Former
University of Minnesota B.S. Former
Chronimed, Inc. Member Former

Organization Position Status
Synopia Current
Park Li Group, Ltd Current
Opportunity Partners Vice Chair Current
BioScrip Inc. Director Current
Chronimed, Inc. Chief Executive Officer Former
BioScrip Inc. CEO Former
Chronimed, Inc. President Former
Children's Hospitals Assistant Director of Pharmacy Services Former
Chronimed, Inc. Chairman Former
Chronimed, Inc. Board of Directors Former

Array

Organization Position Status
Gallagher Benefit Services, Inc. Chairman Current
BioScrip Inc. Board of Directors Current
Dollar Financial Corp. Board of Directors Current
The Kooper Group, Inc President Former
Reliance Group Holdings, Inc. Board of Directors Former

Myron Z. Holubiak, 62 , has been a director of the Company since March 2005. Prior to being appointed a director of the Company he had served as a director of Chronimed since September 2002. Mr. Holubiak is the former President of Roche Laboratories, Inc. He held this position from December 1998 to August 2001. From August 2001 to June 2002, Mr. Holubiak was President, Chief Operating Officer and member of the Board of Directors of iPhysicianNet, Inc., a video detailing company. From July 2002 to April 2007 Mr. Holubiak was President and Chief Operating Officer of HealthSTAR Communications, Inc., a health care marketing communications network of 16 companies. He currently serves on the Board of Directors of the Children of Chernobyl Relief and Development Fund. Currently, Mr. Holubiak is the President and a member of the board of directors of 1-800-Doctors, Inc., a medical referral company that provides consumers access to physicians and hospitals.

Organization Position Status
Healthstar Communications, Inc. President Current
1-800-Doctors, Inc. President Current
Healthstar Communications, Inc. Partner Current
Statscript Director Current
1-800-Doctors, Inc. Director Current
Scrip Solutions, LLC Director Current
BioScrip Inc. Director Current
BioScrip Inc. Member Current
Roche Laboratories President Former
Healthstar Communications, Inc. Chief Operating Officer Former
Chronimed, Inc. Director Former
Chronimed, Inc. Member Former

Organization Position Status
BioScrip Inc. Board of Directors Current
Chronimed, Inc. Former

Organization Position Status
Phytel, Inc. Chief Executive Officer Current
BioScrip Inc. Board of Directors Current
Accordant Health Services, Inc. President and CEO Former
Accordant Health Services, Inc. Founder Former

Stuart A. Samuels, 67 , has been a director of the Company since March 2005. Prior to being appointed a director of the Company he had served as a director of Chronimed since November 2000. Since 1990, Mr. Samuels has been a management consultant, specializing in business management, strategic sales and marketing and business development for several companies, specifically in the pharmaceutical and healthcare industries. He currently serves on the boards of directors of Infomedics, Inc. and Target Rx, Inc.

Organization Position Status
Infomedics, Inc. Board of Directors Current
AVANIR Pharmaceuticals Director Current
BioScrip Inc. Director Current
Health Market Science Board of Directors Current
BioScrip Inc. Member Current
Dermik Laboratories, Inc President Former
Warner Lambert Former
Chronimed, Inc. Director Former
The Wharton School of the University of Pennsylvania M.B.A. Former
University of Pennsylvania B.S. In Metallurgical Engineering Former
Chronimed, Inc. Member Former

Charlotte W. Collins, Esq. serves as a member of the BioScrip board of directors, effective April 2005. Ms. Collins was named to this position upon consummation of the merger between MIM Corporation and Chronimed, Inc. Ms. Collins previously served as a member of the MIM board of directors. Since January 2002, Ms. Collins has been Associate Research Professor, Director of Minority Health Policy Program, at the George Washington University School of Public Health and Health Services. Since 1996, Ms. Collins has been associated with the law firm of Powell, Goldstein, Frazer & Murphy, LLP in Washington, DC. During 1998, Ms. Collins held the position of Interim General Counsel for the District of Columbia Health and Hospitals Public Benefit Corporation.

Organization Position Status
BioScrip Inc. Member Current
BioScrip Inc. Director Current

Louis T. DiFazio serves as a member of the BioScrip board of directors, effective April 2005. Mr. DiFazio was named to this position upon consummation of the merger between MIM Corporation and Chronimed, Inc. Mr. DiFazio previously served as a member of the MIM board of directors. From March 1997 until his retirement in June 1998, Mr. DiFazio served as Group Senior Vice President of the Pharmaceutical Group of Bristol-Myers Squibb. Mr. DiFazio also currently serves as a member of the Board of Trustees of Rutgers University and the University of Rhode Island. Mr. DiFazio received his B.S. in Pharmacy from Rutgers University and his Ph.D. in Pharmaceutical Chemistry from the University of Rhode Island.

Organization Position Status
BioScrip Inc. Member Current
BioScrip Inc. Director Current
Chronimed, Inc. Director Current
Statscript Director Current
Scrip Solutions, LLC Director Current
Bristol-Myers Squibb Company Group Senior Vice President, Pharmaceutical Group Former
Rutgers University Member, Board of Trustees Former
University of Rhode Island Board of Directors Former
University of Rhode Island Ph.D. In Pharmaceutical Chemistry Former
Rutgers University B.S. In Pharmacy Former

Martin "Michael" Kooper serves as a member of the BioScrip board of directors, effective April 2005. Mr. Kooper was named to this position upon consummation of the merger between MIM Corporation and Chronimed, Inc. Mr. Kooper previously served as a member of the MIM board of directors. Since December 1997, Mr. Kooper has served as the President of The Kooper Group, a successor to Michael Kooper Enterprises, a benefits consulting firm. From 1980 through December 1997, Mr. Kooper served as President of Michael Kooper Enterprises.

Organization Position Status
BioScrip Inc. Member Current
BioScrip Inc. Board of Directors Former
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     BIOS $7.58 -0.06 (-0.79% )
Average Volume 375,043
Shares Outstanding 39.32M
Market Cap 298.0M
Year High 9.0496
Year Low 1.3
Earnings Per Share -1.67
P/E Ratio -4.54
Dividend N/A
Yield N/A
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