Option Care Health dips as Madison Dearborn continues to reduce stake

Option Care Health

09/06/2021 12:32

** Option Care Health  OPCH.O  shares down ~3% premarket on
secondary offering
    ** Infusion therapy services provider late Tues announced 15
mln shares sold by Madison Dearborn Partners at $20  urn:newsml:reuters.com:*:nGNX1ydxb5
    ** Offering upsized from 10 mln shares, prices at 3.9%
discount to stock's last sale
    ** Sale represents ~8.3% of OPCH's total shares outstanding,
takes private equity firm Madison's stake to ~39% from current
~47%
    ** Goldman Sachs sole underwriter
    ** This offering represents Madison's 3rd OPCH selldown this
year. In Mar, PE firm sold 12 mln shares in secondary also
priced at $20  urn:newsml:reuters.com:*:nL1N2LE21I, about a month after it sold 15 mln
at $18.50  urn:newsml:reuters.com:*:nL1N2KF1AA
    ** OPCH shares have risen 33% YTD
    ** Avg rating on OPCH among 9 Wall Street analysts is "buy"
and median PT is $24 - Refinitiv data

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))