Option Care Health (OPCH) 10-Q 27 Oct 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2022	Oct. 25, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-11993
Entity Registrant Name	OPTION CARE HEALTH, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	05-0489664
Entity Address, Address Line One	3000 Lakeside Dr.
Entity Address, Address Line Two	Suite 300N,
Entity Address, City or Town	Bannockburn,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60015
City Area Code	312
Local Phone Number	940-2443
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	OPCH
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		181,900,930
Entity Central Index Key	0001014739
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
CURRENT ASSETS:
Cash and cash equivalents	$ 255,468	$ 119,423
Accounts receivable, net	364,187	338,242
Inventories	236,020	183,095
Prepaid expenses and other current assets	96,289	69,496
Total current assets	951,964	710,256
NONCURRENT ASSETS:
Property and equipment, net	96,312	111,535
Operating lease right-of-use asset	72,369	74,777
Intangible assets, net	23,066	21,433
Referral sources	349,487	344,587
Goodwill	1,533,043	1,477,564
Deferred income taxes	0	27,033
Other noncurrent assets	47,022	23,733
Total noncurrent assets	2,121,299	2,080,662
TOTAL ASSETS	3,073,263	2,790,918
CURRENT LIABILITIES:
Accounts payable	409,737	279,246
Accrued compensation and employee benefits	58,014	83,503
Accrued expenses and other current liabilities	93,803	71,857
Current portion of operating lease liability	19,246	19,089
Current portion of long-term debt	6,000	6,000
Total current liabilities	586,800	459,695
NONCURRENT LIABILITIES:
Long-term debt, net of discount, deferred financing costs and current portion	1,058,606	1,059,900
Operating lease liability, net of current portion	71,864	74,492
Deferred income taxes	10,598	0
Other noncurrent liabilities	8,060	20,945
Total noncurrent liabilities	1,149,128	1,155,337
Total liabilities	1,735,928	1,615,032
STOCKHOLDERS’ EQUITY:
Preferred stock; $0.0001 par value; 12,500,000 shares authorized, no shares outstanding as of September 30, 2022 and December 31, 2021, respectively	0	0
Common stock; $0.0001 par value: 250,000,000 shares authorized, 182,284,651 shares issued and 181,900,929 shares outstanding as of September 30, 2022; 180,309,637 shares issued and 179,925,915 shares outstanding as of December 31, 2021	18	18
Treasury stock; 383,722 shares outstanding, at cost, as of September 30, 2022 and December 31, 2021, respectively	(2,403)	(2,403)
Paid-in capital	1,172,315	1,138,855
Retained earnings	142,894	39,867
Accumulated other comprehensive income (loss)	24,511	(451)
Total stockholders’ equity	1,337,335	1,175,886
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 3,073,263	$ 2,790,918

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	12,500,000	12,500,000
Preferred stock, shares, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares, issued (in shares)	182,284,651	180,309,637
Common stock, shares, outstanding (in shares)	181,900,929	179,925,915
Treasury stock, at cost (in shares)	383,722	383,722

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
NET REVENUE	$ 1,020,918	$ 891,937	$ 2,917,522	$ 2,511,446
COST OF REVENUE	802,917	688,969	2,281,685	1,944,037
GROSS PROFIT	218,001	202,968	635,837	567,409
OPERATING COSTS AND EXPENSES:
Selling, general and administrative expenses	142,015	134,633	417,771	388,930
Depreciation and amortization expense	15,268	15,452	46,027	48,410
Total operating expenses	157,283	150,085	463,798	437,340
OPERATING INCOME	60,718	52,883	172,039	130,069
OTHER INCOME (EXPENSE):
Interest expense, net	(13,997)	(16,000)	(39,008)	(52,717)
Equity in earnings of joint ventures	1,472	1,676	4,065	4,567
Other, net	3,888	4	3,891	(12,392)
Total other expense	(8,637)	(14,320)	(31,052)	(60,542)
INCOME BEFORE INCOME TAXES	52,081	38,563	140,987	69,527
INCOME TAX EXPENSE	13,258	3,087	37,960	5,096
NET INCOME	38,823	35,476	103,027	64,431
OTHER COMPREHENSIVE INCOME, NET OF TAX:
Change in unrealized gains on cash flow hedges, net of income tax expense of $1,398, $0, $5,917, and $0, respectively	9,255	2,892	24,962	11,172
OTHER COMPREHENSIVE INCOME	9,255	2,892	24,962	11,172
NET COMPREHENSIVE INCOME	$ 48,078	$ 38,368	$ 127,989	$ 75,603
EARNINGS PER COMMON SHARE:
Earnings per share, basic (in dollars per share)	$ 0.21	$ 0.20	$ 0.57	$ 0.36
Earnings per share, diluted (in dollars per share)	$ 0.21	$ 0.20	$ 0.57	$ 0.36
Weighted average common shares outstanding, basic (in shares)	181,884	179,872	180,829	179,841
Weighted average common shares outstanding, diluted (in shares)	183,022	181,430	181,760	181,055

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Unrealized gains (losses) on cash flow hedges, net of income tax expense	$ 1,398	$ 0	$ 5,917	$ 0

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 103,027	$ 64,431
Adjustments to reconcile net income to net cash provided by operations:
Depreciation and amortization expense	49,723	52,820
Non-cash operating lease costs	14,451	11,137
Deferred income taxes - net	37,631	1,180
Loss on extinguishment of debt	0	12,403
Amortization of deferred financing costs	3,206	3,821
Equity in earnings of joint ventures	(4,065)	(4,567)
Stock-based incentive compensation expense	12,581	6,246
Capital distribution from equity method investments	2,500	1,250
Other adjustments	695	1,372
Changes in operating assets and liabilities:
Accounts receivable, net	(23,153)	(27,310)
Inventories	(52,749)	(31,472)
Prepaid expenses and other current assets	(10,335)	5,958
Accounts payable	129,859	35,648
Accrued compensation and employee benefits	(26,711)	5,777
Accrued expenses and other current liabilities	19,495	18,353
Operating lease liabilities	(15,372)	(14,620)
Other noncurrent assets and liabilities	(16,691)	832
Net cash provided by operating activities	224,092	143,259
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property and equipment	(17,111)	(11,744)
Business acquisitions, net of cash acquired	(87,315)	(18,852)
Net cash used in investing activities	(104,426)	(30,596)
CASH FLOWS FROM FINANCING ACTIVITIES:
Exercise of stock options, vesting of restricted stock, and related tax withholdings	(37)	(93)
Proceeds from warrant exercises	20,916	0
Proceeds from issuance of debt	0	355,200
Repayments of debt	(4,500)	(8,832)
Retirement of debt	0	(352,009)
Deferred financing costs	0	(2,880)
Debt prepayment fees	0	(2,458)
Net cash provided by (used in) financing activities	16,379	(11,072)
NET INCREASE IN CASH AND CASH EQUIVALENTS	136,045	101,591
Cash and cash equivalents - beginning of the period	119,423	99,265
CASH AND CASH EQUIVALENTS - END OF PERIOD	255,468	200,856
Supplemental disclosure of cash flow information:
Cash paid for interest	29,578	52,002
Cash paid for income taxes	6,690	2,719
Cash paid for operating leases	$ 18,964	$ 19,631

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Treasury Stock	Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive (Loss) Income
Equity, beginning balance at Dec. 31, 2020	$ 1,015,724	$ 0	$ 18	$ (2,403)	$ 1,129,312	$ (100,031)	$ (11,172)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options, vesting of restricted stock, and related tax withholdings	(69)				(69)
Stock-based incentive compensation	1,205				1,205
Net income (loss)	(2,861)					(2,861)
Other comprehensive income	4,081						4,081
Equity, ending balance at Mar. 31, 2021	1,018,080	0	18	(2,403)	1,130,448	(102,892)	(7,091)
Equity, beginning balance at Dec. 31, 2020	1,015,724	0	18	(2,403)	1,129,312	(100,031)	(11,172)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	64,431
Other comprehensive income	11,172
Equity, ending balance at Sep. 30, 2021	1,097,480	0	18	(2,403)	1,135,465	(35,600)	0
Equity, beginning balance at Mar. 31, 2021	1,018,080	0	18	(2,403)	1,130,448	(102,892)	(7,091)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options, vesting of restricted stock, and related tax withholdings	(9)				(9)
Stock-based incentive compensation	2,525				2,525
Net income (loss)	31,816					31,816
Other comprehensive income	4,199						4,199
Equity, ending balance at Jun. 30, 2021	1,056,611	0	18	(2,403)	1,132,964	(71,076)	(2,892)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options, vesting of restricted stock, and related tax withholdings	(15)				(15)
Stock-based incentive compensation	2,516				2,516
Net income (loss)	35,476					35,476
Other comprehensive income	2,892						2,892
Equity, ending balance at Sep. 30, 2021	1,097,480	0	18	(2,403)	1,135,465	(35,600)	0
Equity, beginning balance at Dec. 31, 2021	1,175,886	0	18	(2,403)	1,138,855	39,867	(451)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options, vesting of restricted stock, and related tax withholdings	355				355
Stock-based incentive compensation	4,178				4,178
Net income (loss)	30,275					30,275
Other comprehensive income	11,070						11,070
Equity, ending balance at Mar. 31, 2022	1,221,764	0	18	(2,403)	1,143,388	70,142	10,619
Equity, beginning balance at Dec. 31, 2021	1,175,886	0	18	(2,403)	1,138,855	39,867	(451)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	103,027
Other comprehensive income	24,962
Equity, ending balance at Sep. 30, 2022	1,337,335	0	18	(2,403)	1,172,315	142,894	24,511
Equity, beginning balance at Mar. 31, 2022	1,221,764	0	18	(2,403)	1,143,388	70,142	10,619
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options, vesting of restricted stock, and related tax withholdings	168				168
Exercise of warrants	20,098				20,098
Stock-based incentive compensation	4,398				4,398
Net income (loss)	33,929					33,929
Other comprehensive income	4,637						4,637
Equity, ending balance at Jun. 30, 2022	1,284,994	0	18	(2,403)	1,168,052	104,071	15,256
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options, vesting of restricted stock, and related tax withholdings	(560)				(560)
Exercise of warrants	818				818
Stock-based incentive compensation	4,005				4,005
Net income (loss)	38,823					38,823
Other comprehensive income	9,255						9,255
Equity, ending balance at Sep. 30, 2022	$ 1,337,335	$ 0	$ 18	$ (2,403)	$ 1,172,315	$ 142,894	$ 24,511

NATURE OF OPERATIONS AND PRESEN

NATURE OF OPERATIONS AND PRESENTATION OF FINANCIAL STATEMENTS	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS AND PRESENTATION OF FINANCIAL STATEMENTS	NATURE OF OPERATIONS AND PRESENTATION OF FINANCIAL STATEMENTS Corporate Organization and Business — HC Group Holdings II, Inc. (“HC II”) was incorporated under the laws of the State of Delaware on January 7, 2015, with its sole shareholder being HC Group Holdings I, LLC (“HC I”). On April 7, 2015, HC I and HC II collectively acquired Walgreens Infusion Services, Inc. and its subsidiaries from Walgreen Co., and the business was rebranded as Option Care (“Option Care”). On March 14, 2019, HC I and HC II entered into a definitive agreement (the “Merger Agreement”) to merge with and into a wholly-owned subsidiary of BioScrip, Inc. (“BioScrip”), a national provider of infusion and home care management solutions, along with certain other subsidiaries of BioScrip and HC II. The merger contemplated by the Merger Agreement (the “Merger”) was completed on August 6, 2019 (the “Merger Date”). The Merger was accounted for as a reverse merger under the acquisition method of accounting for business combinations with Option Care being considered the accounting acquirer and BioScrip being considered the legal acquirer. Following the close of the transaction, BioScrip was rebranded as Option Care Health, Inc. (“Option Care Health”, or the “Company”). The combined Company’s stock is listed on the Nasdaq Global Select Market as of September 30, 2022. During the three and nine months ended September 30, 2022, HC I completed a secondary offering of 11,000,000 shares of common stock. Following this offering, HC I holds approximately 14.4% of the common stock of the Company. Option Care Health, and its wholly-owned subsidiaries, provides infusion therapy and other ancillary health care services through a national network of 97 full service pharmacies and 64 stand-alone infusion suites. The Company contracts with managed care organizations, third-party payers, hospitals, physicians, and other referral sources to provide pharmaceuticals and complex compounded solutions to patients for intravenous delivery in the patients’ homes or other nonhospital settings. The Company operates in one segment, infusion services. Basis of Presentation — The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles (“GAAP”) in the United States and contain all adjustments, including normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations and cash flows for interim financial reporting. The results of operations for the interim periods presented are not necessarily indicative of the results of operations for the entire year. These unaudited condensed consolidated financial statements do not include all of the information and notes to the financial statements required by GAAP for complete financial statements and should be read in conjunction with the 2021 audited consolidated financial statements, including the notes thereto, as presented in our Form 10-K. Principles of Consolidation — The Company’s unaudited condensed consolidated financial statements include the accounts of Option Care Health, Inc. and its subsidiaries. All intercompany transactions and balances are eliminated in consolidation. The Company has investments in companies that are 50% owned and are accounted for as equity-method investments. The Company’s share of earnings from equity-method investments is included in the line entitled “Equity in earnings of joint ventures” in the unaudited condensed consolidated statements of comprehensive income. See Equity-Method Investments within Note 2, Summary of Significant Accounting Policies , for further discussion of the Company’s equity-method investments.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Cash and Cash Equivalents — The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. Prepaid Expenses and Other Current Assets — Included in prepaid expenses and other current assets are rebates receivable from pharmaceutical and medical supply manufacturers of $46.4 million and $43.0 million as of September 30, 2022 and December 31, 2021, respectively. There were no other items included in prepaid expenses and other current assets that comprised 5% or more of total current assets. As of September 30, 2022, the Company determined that certain assets related to the respiratory therapy and durable medical equipment business met the applicable criteria as being held for sale. As of September 30, 2022, $9.5 million of assets held for sale and $2.0 million of liabilities held for sale were classified in prepaid expenses and other current assets and accrued expenses and other current liabilities, respectively, in the condensed consolidated balance sheets. The assets and liabilities were classified as held for sale at the lower of their carrying amount or fair values less cost to sell. In October 2022, the Company entered into a definitive agreement to sell these assets. The Company expects to close the transaction within the fourth quarter of fiscal year 2022. Equity Method Investments — The Company’s investments in certain unconsolidated entities are accounted for under the equity method. The balance of these investments is included in other noncurrent assets in the accompanying condensed consolidated balance sheets. As of September 30, 2022 and December 31, 2021, the balance of the investments was $21.7 million and $20.1 million, respectively. The balance of these investments is increased to reflect the Company’s capital contributions and equity in earnings of the investees. The balance of these investments is decreased to reflect the Company’s equity in losses of the investees and for distributions received that are not in excess of the carrying amount of the investments. The Company’s proportionate share of earnings or losses of the investees is recorded in equity in earnings of joint ventures in the accompanying unaudited condensed consolidated statements of comprehensive income. The Company’s proportionate share of earnings was $1.5 million and $4.1 million for the three and nine months ended September 30, 2022, respectively, and $1.7 million and $4.6 million for the three and nine months ended September 30, 2021, respectively. See Note 16, Related-Party Transactions , for discussion of related-party transactions with these investees. Concentrations of Business Risk — The Company generates revenue from managed care contracts and other agreements with commercial third-party payers. Revenue related to the Company’s largest payer was approximately 14% and 15% for the three and nine months ended September 30, 2022, respectively. Revenue related to the Company’s largest payer was approximately 16% and 16% for the three and nine months ended September 30, 2021, respectively. There were no other managed care contracts that represent greater than 10% of revenue for the periods presented. For the three and nine months ended September 30, 2022, approximately 12% and 12%, respectively, of the Company’s revenue was reimbursable through direct government healthcare programs, such as Medicare and Medicaid. For the three and nine months ended September 30, 2021, approximately 12% and 12%, respectively, of the Company’s revenue was reimbursable through direct government healthcare programs, such as Medicare and Medicaid. As of September 30, 2022 and December 31, 2021, approximately 11% and 11%, respectively, of the Company’s accounts receivable was related to these programs. Governmental programs pay for services based on fee schedules and rates that are determined by the related governmental agency. Laws and regulations pertaining to government programs are complex and subject to interpretation. As a result, there is at least a reasonable possibility that recorded estimates will change in the near term. The Company does not require its patients or other payers to carry collateral for any amounts owed for goods or services provided. Other than as discussed above, concentration of credit risk relating to trade accounts receivable is limited due to the Company’s diversity of patients and payers. Further, the Company generally does not provide charity care; however, Option Care Health offers a financial assistance program for patients that meet certain defined hardship criteria. For the three and nine months ended September 30, 2022, approximately 74% and 73%, respectively, of the Company’s pharmaceutical and medical supply purchases were from four vendors. For the three and nine months ended September 30, 2021, approximately 65% and 65%, respectively, of the Company’s pharmaceutical and medical supply purchases were from three vendors. Although there are a limited number of suppliers, the Company believes that other vendors could provide similar products on comparable terms. However, a change in suppliers could cause delays in service delivery and possible losses in revenue, which could adversely affect the Company’s financial condition or operating results. Although there remains some uncertainty regarding the COVID-19 pandemic, as of September 30, 2022, the Company has been able to maintain adequate levels of supplies and pharmaceuticals to support its operations.

BUSINESS COMBINATIONS AND ASSET

BUSINESS COMBINATIONS AND ASSET ACQUISITIONS	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
BUSINESS COMBINATIONS AND ASSET ACQUISITIONS	BUSINESS COMBINATIONS AND ASSET ACQUISITIONS Infinity Infusion Nursing LLC — In October 2021, pursuant to the equity purchase agreement dated October 1, 2021, the Company completed the acquisition of 100% of the equity interests in Infinity Infusion Nursing, LLC for a purchase price, net of cash acquired, of $59.6 million. The Company has finalized the purchase price allocation of the acquisition and no purchase accounting adjustments were made. Wasatch Infusion LLC Acquisition — In December 2021, pursuant to the executed asset purchase agreement on December 29, 2021, the Company completed the acquisition of Wasatch Infusion LLC for a purchase price of $19.5 million. As of March 31, 2022, the Company finalized the purchase price allocation of the acquisition. Certain adjustments were made to preliminary valuation amounts related to accounts receivable, other assets and other assumed liabilities. The following is a final allocation of the consideration transferred to acquired identifiable assets and assumed liabilities (in thousands): Amount Accounts receivable $ 2,688 Inventories 2,038 Intangible assets 4,245 Other assets 769 Accounts payable (6,686) Other assumed liabilities (965) Fair value Identifiable assets and liabilities 2,089 Goodwill (1) 17,366 Purchase Price $ 19,455 (1) Goodwill is attributable to cost synergies from procurement and operational efficiencies and elimination of duplicative administrative costs. Specialty Pharmacy Nursing Network, Inc. — In April 2022, pursuant to the equity purchase agreement dated February 7, 2022, the Company completed the acquisition of 100% of the equity interests in Specialty Pharmacy Nursing Network, Inc. (“SPNN”) for a purchase price, net of cash acquired, of $59.9 million. The allocation of the purchase price of SPNN was accounted for as a business combination in accordance with ASC Topic 805, Business Combinations , with the total purchase price being allocated to the assets and liabilities acquired based on the relative fair value of each asset and liability. The following is a preliminary estimate of the allocation of the consideration transferred, open for accounts receivable and accounts payable, to acquired identifiable assets and assumed liabilities, net of cash acquired, as of September 30, 2022 (in thousands): Amount Accounts receivable $ 2,303 Intangible assets 25,580 Other assets 600 Accrued compensation (1,164) Accounts payable and other liabilities (1,168) Fair value identifiable assets and liabilities 26,151 Goodwill (1) 33,746 Cash acquired 661 Purchase Price 60,558 Less: cash acquired (661) Purchase price, net of cash acquired $ 59,897 (1) Goodwill is attributable to cost synergies from operational efficiencies and establishing a more comprehensive clinical platform through the Company’s national infrastructure and SPNN’s nursing network. Rochester Home Infusion, Inc. — In August 2022, pursuant to the stock purchase agreement dated June 10, 2022, the Company completed the acquisition of 100% of the equity interests in Rochester Home Infusion, Inc. (“RHI”) for a purchase price, net of cash acquired, of $27.4 million. The allocation of the purchase price of RHI was accounted for as a business combination in accordance with ASC Topic 805, Business Combinations , with the total purchase price being allocated to the assets and liabilities acquired based on the relative fair value of each asset and liability. The following is a preliminary estimate of the allocation of the consideration transferred, open for accounts receivable and accounts payable, to acquired identifiable assets and assumed liabilities, net of cash acquired, as of September 30, 2022 (in thousands): Amount Accounts receivable $ 1,212 Intangible assets 5,449 Other assets 394 Accounts payable and other liabilities (434) Fair value Identifiable assets and liabilities 6,621 Goodwill (1) 20,797 Cash acquired 201 Purchase Price 27,619 Less: cash acquired (201) Purchase price, net of cash acquired $ 27,418 (1) Goodwill is attributable to cost synergies from procurement and operational efficiencies and elimination of duplicative administrative costs.
BUSINESS COMBINATIONS AND ASSET ACQUISITIONS	BUSINESS COMBINATIONS AND ASSET ACQUISITIONS Infinity Infusion Nursing LLC — In October 2021, pursuant to the equity purchase agreement dated October 1, 2021, the Company completed the acquisition of 100% of the equity interests in Infinity Infusion Nursing, LLC for a purchase price, net of cash acquired, of $59.6 million. The Company has finalized the purchase price allocation of the acquisition and no purchase accounting adjustments were made. Wasatch Infusion LLC Acquisition — In December 2021, pursuant to the executed asset purchase agreement on December 29, 2021, the Company completed the acquisition of Wasatch Infusion LLC for a purchase price of $19.5 million. As of March 31, 2022, the Company finalized the purchase price allocation of the acquisition. Certain adjustments were made to preliminary valuation amounts related to accounts receivable, other assets and other assumed liabilities. The following is a final allocation of the consideration transferred to acquired identifiable assets and assumed liabilities (in thousands): Amount Accounts receivable $ 2,688 Inventories 2,038 Intangible assets 4,245 Other assets 769 Accounts payable (6,686) Other assumed liabilities (965) Fair value Identifiable assets and liabilities 2,089 Goodwill (1) 17,366 Purchase Price $ 19,455 (1) Goodwill is attributable to cost synergies from procurement and operational efficiencies and elimination of duplicative administrative costs. Specialty Pharmacy Nursing Network, Inc. — In April 2022, pursuant to the equity purchase agreement dated February 7, 2022, the Company completed the acquisition of 100% of the equity interests in Specialty Pharmacy Nursing Network, Inc. (“SPNN”) for a purchase price, net of cash acquired, of $59.9 million. The allocation of the purchase price of SPNN was accounted for as a business combination in accordance with ASC Topic 805, Business Combinations , with the total purchase price being allocated to the assets and liabilities acquired based on the relative fair value of each asset and liability. The following is a preliminary estimate of the allocation of the consideration transferred, open for accounts receivable and accounts payable, to acquired identifiable assets and assumed liabilities, net of cash acquired, as of September 30, 2022 (in thousands): Amount Accounts receivable $ 2,303 Intangible assets 25,580 Other assets 600 Accrued compensation (1,164) Accounts payable and other liabilities (1,168) Fair value identifiable assets and liabilities 26,151 Goodwill (1) 33,746 Cash acquired 661 Purchase Price 60,558 Less: cash acquired (661) Purchase price, net of cash acquired $ 59,897 (1) Goodwill is attributable to cost synergies from operational efficiencies and establishing a more comprehensive clinical platform through the Company’s national infrastructure and SPNN’s nursing network. Rochester Home Infusion, Inc. — In August 2022, pursuant to the stock purchase agreement dated June 10, 2022, the Company completed the acquisition of 100% of the equity interests in Rochester Home Infusion, Inc. (“RHI”) for a purchase price, net of cash acquired, of $27.4 million. The allocation of the purchase price of RHI was accounted for as a business combination in accordance with ASC Topic 805, Business Combinations , with the total purchase price being allocated to the assets and liabilities acquired based on the relative fair value of each asset and liability. The following is a preliminary estimate of the allocation of the consideration transferred, open for accounts receivable and accounts payable, to acquired identifiable assets and assumed liabilities, net of cash acquired, as of September 30, 2022 (in thousands): Amount Accounts receivable $ 1,212 Intangible assets 5,449 Other assets 394 Accounts payable and other liabilities (434) Fair value Identifiable assets and liabilities 6,621 Goodwill (1) 20,797 Cash acquired 201 Purchase Price 27,619 Less: cash acquired (201) Purchase price, net of cash acquired $ 27,418 (1) Goodwill is attributable to cost synergies from procurement and operational efficiencies and elimination of duplicative administrative costs.

REVENUE

REVENUE	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE The following table sets forth the net revenue earned by category of payer for the three and nine months ended September 30, 2022 and 2021 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Commercial payers $ 888,162 $ 769,524 $ 2,526,354 $ 2,164,678 Government payers 122,793 106,645 357,383 307,067 Patients 9,963 15,768 33,785 39,701 Net revenue $ 1,020,918 $ 891,937 $ 2,917,522 $ 2,511,446

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES During the three and nine months ended September 30, 2022, the Company recorded tax expense of $13.3 million and $38.0 million, respectively, which represents an effective tax rate of 25.5% and 26.9%, respectively. The variance in the Company’s effective tax rate of 25.5% and 26.9% for the three and nine months ended September 30, 2022, compared to the federal statutory rate of 21%, is primarily attributable to current and deferred state taxes as well as various non-deductible expenses. During the three and nine months ended September 30, 2021, the Company recorded tax expense of $3.1 million and $5.1 million, respectively, which represents an effective tax rate of 8.0% and 7.3%, respectively. The variance in the Company’s effective tax rate of 8.0% and 7.3% for the three and nine months ended September 30, 2021, compared to the federal statutory rate of 21%, is primarily attributable to the Company only recognizing certain deferred federal and state tax expense and current state tax expense while any tax benefits that would have otherwise been recognized were offset by the Company’s tax valuation allowance in effect during that period. The Company maintains a valuation allowance of $13.1 million against certain state net operating losses. In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some or all the deferred tax assets will not be realized. The ultimate realization of deferred tax assets depends on the generation of future taxable income during the periods in which those temporary differences are deductible. The Company considers the scheduled reversal of deferred tax liabilities, including the effect in available carryback and carryforward periods, projected taxable income and tax-planning strategies, in making this assessment. On a quarterly basis, the Company evaluates all positive and negative evidence in determining if the valuation allowance is fairly stated. The Company’s tax expense for the three and nine months ended September 30, 2022, of $13.3 million and $38.0 million, respectively, consists of quarterly tax liabilities attributable to specific state taxing authorities as well as recognized deferred federal and state tax expense. The Company’s tax expense for the three and nine months ended September 30, 2021 of $3.1 million and $5.1 million, respectively, consists of quarterly tax liabilities attributed to specific state taxing authorities as well as recognized deferred tax expense.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The Company presents basic and diluted earnings per share for its common stock. Basic earnings per share is calculated by dividing the net income of the Company by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is determined by adjusting the profit or loss and the weighted average number of shares of common stock outstanding for the effects of all potentially dilutive securities. The earnings are used as the basis of determining whether the inclusion of common stock equivalents would be anti-dilutive. The computation of diluted shares for the three and nine months ended September 30, 2022 and 2021 includes the effect of shares that would be issued in connection with warrants, stock options and restricted stock awards, as these common stock equivalents are dilutive to the earnings per share recorded in those periods. For the three months ended September 30, 2022, there were 520,944 stock option awards and 13,561 restricted stock awards outstanding that were excluded from the calculation of earnings per share as they would be anti-dilutive. For the nine months ended September 30, 2022, there were 794,887 stock option awards and 476,329 restricted stock awards outstanding that were excluded from the calculation of earnings per share as they would be anti-dilutive. For the three months ended September 30, 2021, there were 457,754 warrants, 496,929 stock option awards, and 38,536 restricted stock awards outstanding that were excluded from the calculation of earnings per share as they would be anti-dilutive. For the nine months ended September 30, 2021, there were 915,507 warrants, 387,656 stock option awards, and 272,540 restricted stock awards outstanding that were excluded from the calculation of earnings per share as they would be anti-dilutive. The following table presents the Company’s basic earnings per share and shares outstanding (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Numerator: Net income $ 38,823 $ 35,476 $ 103,027 $ 64,431 Denominator: Weighted average number of common shares outstanding 181,884 179,872 180,829 179,841 Earnings per common share: Earnings per common share, basic $ 0.21 $ 0.20 $ 0.57 $ 0.36 The following table presents the Company’s diluted earnings per share and shares outstanding (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Numerator: Net income $ 38,823 $ 35,476 $ 103,027 $ 64,431 Denominator: Weighted average number of common shares outstanding 181,884 179,872 180,829 179,841 Effect of dilutive securities 1,138 1,558 931 1,214 Weighted average number of common shares outstanding, diluted 183,022 181,430 181,760 181,055 Earnings per common share: Earnings per common share, diluted $ 0.21 $ 0.20 $ 0.57 $ 0.36

LEASES

LEASES	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
LEASES	LEASES During the three and nine months ended September 30, 2022, the Company incurred operating lease expenses of $7.8 million and $22.7 million, respectively, including short-term lease expense, which were included as a component of selling, general and administrative expenses in the unaudited condensed consolidated statements of comprehensive income. During the three and nine months ended September 30, 2021, the Company incurred operating lease expenses of $7.8 million and $22.3 million, respectively, including short-term lease expense, which were included as a component of selling, general and administrative expenses in the unaudited condensed consolidated statements of comprehensive income. As of September 30, 2022, the weighted-average remaining lease term was 6.6 years and the weighted-average discount rate was 5.17%. Operating leases mature as follows (in thousands): Fiscal Year Ended December 31, Minimum Payments 2022 $ 8,296 2023 23,052 2024 16,878 2025 13,987 2026 11,170 Thereafter 36,329 Total lease payments $ 109,712 Less: Interest (18,602) Present value of lease liabilities $ 91,110 During the nine months ended September 30, 2022, the Company commenced new leases, extensions and amendments, resulting in non-cash operating activities in the unaudited condensed consolidated statements of cash flow o f $13.6 million re lated to increases in the operating lease right-of-use assets and operating lease liabilities, respectively. During the nine months ended September 30, 2021, the Company commenced new leases, extensions and amendments, resulting in non-cash operating activities in the unaudited condensed consolidated statements of cash flows o f $14.5 million re lated to increases in the operating lease right-of-use assets and operating lease liabilities, respectively. As of September 30, 2022, the Company did not have any significant operating or financing leases that had not yet commenced.
LEASES	LEASES During the three and nine months ended September 30, 2022, the Company incurred operating lease expenses of $7.8 million and $22.7 million, respectively, including short-term lease expense, which were included as a component of selling, general and administrative expenses in the unaudited condensed consolidated statements of comprehensive income. During the three and nine months ended September 30, 2021, the Company incurred operating lease expenses of $7.8 million and $22.3 million, respectively, including short-term lease expense, which were included as a component of selling, general and administrative expenses in the unaudited condensed consolidated statements of comprehensive income. As of September 30, 2022, the weighted-average remaining lease term was 6.6 years and the weighted-average discount rate was 5.17%. Operating leases mature as follows (in thousands): Fiscal Year Ended December 31, Minimum Payments 2022 $ 8,296 2023 23,052 2024 16,878 2025 13,987 2026 11,170 Thereafter 36,329 Total lease payments $ 109,712 Less: Interest (18,602) Present value of lease liabilities $ 91,110 During the nine months ended September 30, 2022, the Company commenced new leases, extensions and amendments, resulting in non-cash operating activities in the unaudited condensed consolidated statements of cash flow o f $13.6 million re lated to increases in the operating lease right-of-use assets and operating lease liabilities, respectively. During the nine months ended September 30, 2021, the Company commenced new leases, extensions and amendments, resulting in non-cash operating activities in the unaudited condensed consolidated statements of cash flows o f $14.5 million re lated to increases in the operating lease right-of-use assets and operating lease liabilities, respectively. As of September 30, 2022, the Company did not have any significant operating or financing leases that had not yet commenced.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT Property and equipment was as follows as of September 30, 2022 and December 31, 2021 (in thousands): September 30, 2022 December 31, 2021 Infusion pumps $ 36,221 $ 34,547 Equipment, furniture and other 29,924 52,913 Leasehold improvements 94,664 92,229 Computer software, purchased and internally developed 35,094 30,744 Assets under development 17,782 19,924 213,685 230,357 Less: accumulated depreciation (117,373) (118,822) Property and equipment, net $ 96,312 $ 111,535 Depreciation expense is recorded within cost of revenue and operating expenses within the unaudited condensed consolidated statements of comprehensive income, depending on the nature of the underlying fixed assets. The depreciation expense included in cost of revenue relates to revenue-generating assets, such as infusion pumps. The depreciation expense included in operating expenses is related to infrastructure items, such as furniture, computer and office equipment, and leasehold improvements. The following table presents the amount of depreciation expense recorded in cost of revenue and operating expenses for the three and nine months ended September 30, 2022 and 2021 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Depreciation expense in cost of revenue $ 1,205 $ 1,664 $ 3,696 $ 4,410 Depreciation expense in operating expenses 6,778 7,476 21,337 22,670 Total depreciation expense $ 7,983 $ 9,140 $ 25,033 $ 27,080

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS Changes in the carrying amount of goodwill consists of the following activity for the three and nine months ended September 30, 2022 (in thousands): Balance at December 31, 2021 $ 1,477,564 Purchase accounting adjustments 936 Balance at March 31, 2022 1,478,500 Acquisitions 33,746 Balance at June 30, 2022 $ 1,512,246 Acquisitions $ 20,797 Balance at September 30, 2022 $ 1,533,043 There were no changes in the carrying amount of goodwill for the three or nine months ended September 30, 2021. The carrying amount and accumulated amortization of intangible assets consist of the following as of September 30, 2022 and December 31, 2021 (in thousands): September 30, 2022 December 31, 2021 Gross intangible assets: Referral sources $ 509,646 $ 482,200 Trademarks/names 38,508 47,718 Other amortizable intangible assets 912 1,037 Total gross intangible assets 549,066 530,955 Accumulated amortization: Referral sources (160,159) (137,613) Trademarks/names (16,254) (26,936) Other amortizable intangible assets (100) (386) Total accumulated amortization (176,513) (164,935) Total intangible assets, net $ 372,553 $ 366,020 Amortization expense for intangible assets was $8.4 million and $24.6 million for the three and nine months ended September 30, 2022, respectively. Amortization expense for intangible assets was $7.9 million and $25.5 million for the three and nine months ended September 30, 2021, respectively.

INDEBTEDNESS

INDEBTEDNESS	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
INDEBTEDNESS	INDEBTEDNESS Long-term debt consisted of the following as of September 30, 2022 (in thousands): Principal Amount Discount Debt Issuance Costs Net Balance Asset-based-lending (“ABL”) facility $ — $ — $ — $ — First Lien Term Loan 595,500 (8,638) (11,987) 574,875 Senior Notes 500,000 — (10,269) 489,731 $ 1,095,500 $ (8,638) $ (22,256) 1,064,606 Less: current portion (6,000) Total long-term debt $ 1,058,606 Long-term debt consisted of the following as of December 31, 2021 (in thousands): Principal Amount Discount Debt Issuance Costs Net Balance ABL facility $ — $ — $ — $ — First Lien Term Loan 600,000 (9,605) (13,331) 577,064 Senior Notes 500,000 — (11,164) 488,836 $ 1,100,000 $ (9,605) $ (24,495) 1,065,900 Less: current portion (6,000) Total long-term debt $ 1,059,900 The interest rate on the First Lien Term Loan was 5.27% and 3.25% as of September 30, 2022 and December 31, 2021, respectively. The weighted average interest rate incurred on the First Lien Term Loan was 4.94% and 3.90% for the three and nine months ended September 30, 2022, respectively. The weighted average interest rate incurred on the First Lien Term Loan was 3.84% and 5.87% for the three and nine months ended September 30, 2021, respectively. The interest rate on the Senior Notes was 4.375% as of both September 30, 2022 and December 31, 2021. The weighted average interest rate incurred on the Senior Secured Notes was 4.375% for both the three and nine months ended September 30, 2022. Long-term debt matures as follows (in thousands): Fiscal Year Ended December 31, Minimum Payments 2022 $ 1,500 2023 6,000 2024 6,000 2025 6,000 2026 6,000 Thereafter 1,070,000 Total $ 1,095,500 During the three and nine months ended September 30, 2022 and 2021, the Company engaged in hedging activities to limit its exposure to changes in interest rates. See Note 11, Derivative Instruments , for further discussion. The following table presents the estimated fair values of the Company’s debt obligations as of September 30, 2022 (in thousands): Financial Instrument Carrying Value as of September 30, 2022 Markets for Identical Item (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) First Lien Term Loan $ 574,875 $ — $ 579,124 $ — Senior Notes 489,731 — 420,000 — Total debt instruments $ 1,064,606 $ — $ 999,124 $ — See Note 12, Fair Value Measurements , for further discussion.

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	DERIVATIVE INSTRUMENTS The Company uses derivative financial instruments for hedging and non-trading purposes to limit the Company’s exposure to increases in interest rates related to its variable interest rate debt. Use of derivative financial instruments in hedging programs subjects the Company to certain risks, such as market and credit risks. Market risk represents the possibility that the value of the derivative financial instrument will change. In a hedging relationship, the change in the value of the derivative financial instrument is offset to a great extent by the change in the value of the underlying hedged item. Credit risk related to a derivative financial instrument represents the possibility that the counterparty will not fulfill the terms of the contract. The notional, or contractual, amount of the Company’s derivative financial instruments is used to measure interest to be paid or received and does not represent the Company’s exposure due to credit risk. Credit risk is monitored through established approval procedures, including reviewing credit ratings when appropriate. In October 2021, the Company entered into an interest rate cap hedge with a notional amount of $300 million for a 5-year term beginning November 30, 2021. The hedge partially offsets risk associated with the First Lien Term Loan’s variable interest rate. The interest rate cap instrument perfectly offsets the terms of the interest rates associated with the variable interest rate of the First Lien Term Loan. The following table summarizes the amount and location of the Company’s derivative instruments in the condensed consolidated balance sheets (in thousands): Fair Value - Derivatives in Asset Position Derivative Balance Sheet Caption September 30, 2022 December 31, 2021 Interest rate cap designated as cash flow hedge Prepaid expenses and other current assets $ 8,544 $ — Interest rate cap designated as cash flow hedge Other noncurrent assets 21,733 — Fair Value - Derivatives in Liability Position Derivative Balance Sheet Caption September 30, 2022 December 31, 2021 Interest rate cap designated as cash flow hedge Accrued expenses and other current liabilities $ — $ 601 The gain associated with the change in the fair value of the effective portion of the hedging instrument is recorded into other comprehensive income. The following table presents the pre-tax gains from derivative instruments recognized in other comprehensive income in the Company’s unaudited condensed consolidated statements of comprehensive income (in thousands): Three Months Ended September 30, Nine Months Ended September 30, Derivative 2022 2021 2022 2021 Interest rate cap designated as cash flow hedge $ 10,653 $ — $ 30,879 $ — Interest rate swaps designated as cash flow hedges — 2,892 — 11,172 $ 10,653 $ 2,892 $ 30,879 $ 11,172 The following table presents the amount and location of pre-tax income (loss) recognized in the Company’s unaudited condensed consolidated statements of comprehensive income related to the Company’s derivative instruments (in thousands): Three Months Ended September 30, Nine Months Ended September 30, Derivative Income Statement Caption 2022 2021 2022 2021 Interest rate cap designated as cash flow hedge Interest expense $ (1,775) $ — $ (591) $ — Interest rate swaps designated as cash flow hedges Interest expense — (2,903) $ — $ (11,298) Interest rate swaps not designated as hedges Interest expense — — — (2) $ (1,775) $ (2,903) $ (591) $ (11,300)

FAIR VALUE MEASURMENTS

FAIR VALUE MEASURMENTS	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair value measurements are determined by maximizing the use of observable inputs and minimizing the use of unobservable inputs. The hierarchy places the highest priority on unadjusted quoted market prices in active markets for identical assets or liabilities (Level 1 measurements) and gives the lowest priority to unobservable inputs (Level 3 measurements). The categories within the valuation hierarchy are described as follows: • Level 1 — Inputs to the fair value measurement are quoted prices in active markets for identical assets or liabilities. • Level 2 — Inputs to the fair value measurement include quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. • Level 3 — Inputs to the fair value measurement are unobservable inputs or valuation techniques. While the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. First Lien Term Loan : The fair value of the First Lien Term Loan is derived from a broker quote on the loans in the syndication (Level 2 inputs). See Note 10, Indebtedness , for further discussion of the carrying amount and fair value of the First Lien Term Loan. Senior Notes: The fair value of the Senior Notes is derived from a broker quote (Level 2 inputs). See Note 10, Indebtedness , for further discussion of the carrying amount and fair value of the Senior Notes. Interest Rate Cap: The fair value of the interest rate cap is derived from the interest rates prevalent in the market and future expectations of those interest rates (Level 2 inputs). The Company determines the fair value of the investments based on quoted prices from third-party brokers. See Note 11, Derivative Instruments , for further discussion of the fair value of the interest rate cap. There were no other assets or liabilities measured at fair value at September 30, 2022 and December 31, 2021.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIESThe Company is involved in legal proceedings and is subject to investigations, inspections, audits, inquiries, and similar actions by governmental authorities, arising in the normal course of the Company’s business. Some of these suits may purport or may be determined to be class actions and/or involve parties seeking large and/or indeterminate amounts, including punitive or exemplary damages, and may remain unresolved for several years. From time to time, the Company may also be involved in legal proceedings as a plaintiff involving antitrust, tax, contract, intellectual property, and other matters. Gain contingencies, if any, are recognized when they are realized. The results of legal proceedings are often uncertain and difficult to predict, and the costs incurred in litigation can be substantial, regardless of the outcome. The Company believes that its defenses and assertions in pending legal proceedings have merit and does not believe that any of these pending matters, after consideration of applicable reserves and rights to indemnification, will have a material adverse effect on the Company’s condensed consolidated balance sheets. However, substantial unanticipated verdicts, fines, and rulings may occur. As a result, the Company may from time to time incur judgments, enter into settlements, or revise expectations regarding the outcome of certain matters, and such developments could have a material adverse effect on its results of operations in the period in which the amounts are accrued and/or its cash flows in the period in which the amounts are paid.

STOCK-BASED INCENTIVE COMPENSAT

STOCK-BASED INCENTIVE COMPENSATION	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
STOCK-BASED INCENTIVE COMPENSATION	STOCK-BASED INCENTIVE COMPENSATION Equity Incentive Plans — Under the Company’s 2018 Equity Incentive Plan (the “2018 Plan”), approved at the annual meeting by the BioScrip stockholders on May 3, 2018 and amended and restated on May 19, 2021, the Company may issue, among other things, incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock units, stock grants, and performance units to key employees and directors, resulting in a total of 9,101,734 shares of common stock are authorized for issuance. The 2018 Plan is administered by the Company’s Compensation Committee, a standing committee of the Company’s Board of Directors. The Company had stock options, restricted stock units and performance stock units outstanding related to the 2018 Plan as of September 30, 2022. During the three and nine months ended September 30, 2022, total stock-based incentive compensation expense recognized by the Company related to the 2018 Plan was $4.0 million and $12.6 million

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY 2017 Warrants — During the three months ended September 30, 2022, warrant holders did not elect to exercise any warrants to purchase shares of common stock. During the nine months ended September 30, 2022, warrant holders elected to exercise 1,130,089 warrants to purchase shares of common stock. During the three and nine months ended September 30, 2021, warrant holders did not elect to exercise any warrants to purchase shares of common stock. As of September 30, 2022 and December 31, 2021, the remaining warrant holders are entitled to purchase 240,188 and 1,370,277 shares of common stock, respectively. 2015 Warrants — During the three and nine months ended September 30, 2022, warrant holders elected to exercise 31,968 and 900,272 warrants to purchase shares of common stock, respectively. During the three and nine months ended September 30, 2021, warrant holders did not elect to exercise any warrants to purchase shares of common stock. As of September 30, 2022 and December 31, 2021, the remaining warrant holders are entitled to purchase 15,231 and 915,503 shares of common stock, respectively.

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
RELATED-PARTY TRANSACTIONS	RELATED-PARTY TRANSACTIONS Transactions with Equity-Method Investees — The Company provides management services to its joint ventures such as accounting, invoicing and collections in addition to day-to-day managerial support of the operations of the businesses. The Company recorded management fee income of $1.1 million and $2.9 million for the three and nine months ended September 30, 2022, respectively. The Company recorded management fee income of $0.9 million and $2.6 million for the three and nine months ended September 30, 2021, respectively. Management fees are recorded in net revenues in the accompanying unaudited condensed consolidated statements of comprehensive income. During the three and nine months ended September 30, 2022, the Company received distributions from the investees of $1.5 million and $2.5 million, respectively. During the three and nine months ended September 30, 2021, the Company received $1.3 million in distributions from the investees. The Company had amounts due from its joint ventures of $0.8 million as of September 30, 2022. These receivables were included in prepaid expenses and other current assets in the accompanying condensed consolidated balance sheets. The Company also had amounts due to its joint ventures of $1.4 million as of December 31, 2021. These payables were included in accrued expenses and other current liabilities in the accompanying condensed consolidated balance sheets. These balances primarily relate to cash collections received by the Company on behalf of the joint ventures, offset by certain pharmaceutical inventories and other expenses paid for by the Company on behalf of the joint ventures.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation — The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles (“GAAP”) in the United States and contain all adjustments, including normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations and cash flows for interim financial reporting. The results of operations for the interim periods presented are not necessarily indicative of the results of operations for the entire year. These unaudited condensed consolidated financial statements do not include all of the information and notes to the financial statements required by GAAP for complete financial statements and should be read in conjunction with the 2021 audited consolidated financial statements, including the notes thereto, as presented in our Form 10-K.
Principles of Consolidation	Principles of Consolidation — The Company’s unaudited condensed consolidated financial statements include the accounts of Option Care Health, Inc. and its subsidiaries. All intercompany transactions and balances are eliminated in consolidation.
Cash and Cash Equivalents	Cash and Cash Equivalents — The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents.
Equity Method Investments	Equity Method Investments — The Company’s investments in certain unconsolidated entities are accounted for under the equity method. The balance of these investments is included in other noncurrent assets in the accompanying condensed consolidated balance sheets. As of September 30, 2022 and December 31, 2021, the balance of the investments was $21.7 million and $20.1 million, respectively. The balance of these investments is increased to reflect the Company’s capital contributions and equity in earnings of the investees. The balance of these investments is decreased to reflect the Company’s equity in losses of the investees and for distributions received that are not in excess of the carrying amount of the investments. The Company’s proportionate share of earnings or losses of the investees is recorded in equity in earnings of joint ventures in the accompanying unaudited condensed consolidated statements of comprehensive income.
Concentrations of Business Risk	Concentrations of Business Risk — The Company generates revenue from managed care contracts and other agreements with commercial third-party payers. Revenue related to the Company’s largest payer was approximately 14% and 15% for the three and nine months ended September 30, 2022, respectively. Revenue related to the Company’s largest payer was approximately 16% and 16% for the three and nine months ended September 30, 2021, respectively. There were no other managed care contracts that represent greater than 10% of revenue for the periods presented. For the three and nine months ended September 30, 2022, approximately 12% and 12%, respectively, of the Company’s revenue was reimbursable through direct government healthcare programs, such as Medicare and Medicaid. For the three and nine months ended September 30, 2021, approximately 12% and 12%, respectively, of the Company’s revenue was reimbursable through direct government healthcare programs, such as Medicare and Medicaid. As of September 30, 2022 and December 31, 2021, approximately 11% and 11%, respectively, of the Company’s accounts receivable was related to these programs. Governmental programs pay for services based on fee schedules and rates that are determined by the related governmental agency. Laws and regulations pertaining to government programs are complex and subject to interpretation. As a result, there is at least a reasonable possibility that recorded estimates will change in the near term. The Company does not require its patients or other payers to carry collateral for any amounts owed for goods or services provided. Other than as discussed above, concentration of credit risk relating to trade accounts receivable is limited due to the Company’s diversity of patients and payers. Further, the Company generally does not provide charity care; however, Option Care Health offers a financial assistance program for patients that meet certain defined hardship criteria. For the three and nine months ended September 30, 2022, approximately 74% and 73%, respectively, of the Company’s pharmaceutical and medical supply purchases were from four vendors. For the three and nine months ended September 30, 2021, approximately 65% and 65%, respectively, of the Company’s pharmaceutical and medical supply purchases were from three
Fair Value Measurements	FAIR VALUE MEASUREMENTS Fair value measurements are determined by maximizing the use of observable inputs and minimizing the use of unobservable inputs. The hierarchy places the highest priority on unadjusted quoted market prices in active markets for identical assets or liabilities (Level 1 measurements) and gives the lowest priority to unobservable inputs (Level 3 measurements). The categories within the valuation hierarchy are described as follows: • Level 1 — Inputs to the fair value measurement are quoted prices in active markets for identical assets or liabilities. • Level 2 — Inputs to the fair value measurement include quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. • Level 3 — Inputs to the fair value measurement are unobservable inputs or valuation techniques. While the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. First Lien Term Loan : The fair value of the First Lien Term Loan is derived from a broker quote on the loans in the syndication (Level 2 inputs). See Note 10, Indebtedness , for further discussion of the carrying amount and fair value of the First Lien Term Loan. Senior Notes: The fair value of the Senior Notes is derived from a broker quote (Level 2 inputs). See Note 10, Indebtedness , for further discussion of the carrying amount and fair value of the Senior Notes. Interest Rate Cap: The fair value of the interest rate cap is derived from the interest rates prevalent in the market and future expectations of those interest rates (Level 2 inputs). The Company determines the fair value of the investments based on quoted prices from third-party brokers. See Note 11, Derivative Instruments , for further discussion of the fair value of the interest rate cap.

BUSINESS COMBINATIONS AND ASS_2

BUSINESS COMBINATIONS AND ASSET ACQUISITIONS (Tables)	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Acquired Identifiable Assets and Assumed Liabilities	The following is a final allocation of the consideration transferred to acquired identifiable assets and assumed liabilities (in thousands): Amount Accounts receivable $ 2,688 Inventories 2,038 Intangible assets 4,245 Other assets 769 Accounts payable (6,686) Other assumed liabilities (965) Fair value Identifiable assets and liabilities 2,089 Goodwill (1) 17,366 Purchase Price $ 19,455 (1) Goodwill is attributable to cost synergies from procurement and operational efficiencies and elimination of duplicative administrative costs. Amount Accounts receivable $ 2,303 Intangible assets 25,580 Other assets 600 Accrued compensation (1,164) Accounts payable and other liabilities (1,168) Fair value identifiable assets and liabilities 26,151 Goodwill (1) 33,746 Cash acquired 661 Purchase Price 60,558 Less: cash acquired (661) Purchase price, net of cash acquired $ 59,897 (1) Goodwill is attributable to cost synergies from operational efficiencies and establishing a more comprehensive clinical platform through the Company’s national infrastructure and SPNN’s nursing network. Amount Accounts receivable $ 1,212 Intangible assets 5,449 Other assets 394 Accounts payable and other liabilities (434) Fair value Identifiable assets and liabilities 6,621 Goodwill (1) 20,797 Cash acquired 201 Purchase Price 27,619 Less: cash acquired (201) Purchase price, net of cash acquired $ 27,418 (1) Goodwill is attributable to cost synergies from procurement and operational efficiencies and elimination of duplicative administrative costs.

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Net Revenue Earned by Category of Payer	The following table sets forth the net revenue earned by category of payer for the three and nine months ended September 30, 2022 and 2021 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Commercial payers $ 888,162 $ 769,524 $ 2,526,354 $ 2,164,678 Government payers 122,793 106,645 357,383 307,067 Patients 9,963 15,768 33,785 39,701 Net revenue $ 1,020,918 $ 891,937 $ 2,917,522 $ 2,511,446

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Share	The following table presents the Company’s basic earnings per share and shares outstanding (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Numerator: Net income $ 38,823 $ 35,476 $ 103,027 $ 64,431 Denominator: Weighted average number of common shares outstanding 181,884 179,872 180,829 179,841 Earnings per common share: Earnings per common share, basic $ 0.21 $ 0.20 $ 0.57 $ 0.36 The following table presents the Company’s diluted earnings per share and shares outstanding (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Numerator: Net income $ 38,823 $ 35,476 $ 103,027 $ 64,431 Denominator: Weighted average number of common shares outstanding 181,884 179,872 180,829 179,841 Effect of dilutive securities 1,138 1,558 931 1,214 Weighted average number of common shares outstanding, diluted 183,022 181,430 181,760 181,055 Earnings per common share: Earnings per common share, diluted $ 0.21 $ 0.20 $ 0.57 $ 0.36

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Maturities of Lease Liabilities, Operating	Operating leases mature as follows (in thousands): Fiscal Year Ended December 31, Minimum Payments 2022 $ 8,296 2023 23,052 2024 16,878 2025 13,987 2026 11,170 Thereafter 36,329 Total lease payments $ 109,712 Less: Interest (18,602) Present value of lease liabilities $ 91,110

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment was as follows as of September 30, 2022 and December 31, 2021 (in thousands): September 30, 2022 December 31, 2021 Infusion pumps $ 36,221 $ 34,547 Equipment, furniture and other 29,924 52,913 Leasehold improvements 94,664 92,229 Computer software, purchased and internally developed 35,094 30,744 Assets under development 17,782 19,924 213,685 230,357 Less: accumulated depreciation (117,373) (118,822) Property and equipment, net $ 96,312 $ 111,535 Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Depreciation expense in cost of revenue $ 1,205 $ 1,664 $ 3,696 $ 4,410 Depreciation expense in operating expenses 6,778 7,476 21,337 22,670 Total depreciation expense $ 7,983 $ 9,140 $ 25,033 $ 27,080

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of the Carrying Amount of Goodwill	Changes in the carrying amount of goodwill consists of the following activity for the three and nine months ended September 30, 2022 (in thousands): Balance at December 31, 2021 $ 1,477,564 Purchase accounting adjustments 936 Balance at March 31, 2022 1,478,500 Acquisitions 33,746 Balance at June 30, 2022 $ 1,512,246 Acquisitions $ 20,797 Balance at September 30, 2022 $ 1,533,043
Schedule of Carrying Amount and Accumulated Amortization of Intangible Assets	The carrying amount and accumulated amortization of intangible assets consist of the following as of September 30, 2022 and December 31, 2021 (in thousands): September 30, 2022 December 31, 2021 Gross intangible assets: Referral sources $ 509,646 $ 482,200 Trademarks/names 38,508 47,718 Other amortizable intangible assets 912 1,037 Total gross intangible assets 549,066 530,955 Accumulated amortization: Referral sources (160,159) (137,613) Trademarks/names (16,254) (26,936) Other amortizable intangible assets (100) (386) Total accumulated amortization (176,513) (164,935) Total intangible assets, net $ 372,553 $ 366,020

INDEBTEDNESS (Tables)

INDEBTEDNESS (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Debt	Long-term debt consisted of the following as of September 30, 2022 (in thousands): Principal Amount Discount Debt Issuance Costs Net Balance Asset-based-lending (“ABL”) facility $ — $ — $ — $ — First Lien Term Loan 595,500 (8,638) (11,987) 574,875 Senior Notes 500,000 — (10,269) 489,731 $ 1,095,500 $ (8,638) $ (22,256) 1,064,606 Less: current portion (6,000) Total long-term debt $ 1,058,606 Long-term debt consisted of the following as of December 31, 2021 (in thousands): Principal Amount Discount Debt Issuance Costs Net Balance ABL facility $ — $ — $ — $ — First Lien Term Loan 600,000 (9,605) (13,331) 577,064 Senior Notes 500,000 — (11,164) 488,836 $ 1,100,000 $ (9,605) $ (24,495) 1,065,900 Less: current portion (6,000) Total long-term debt $ 1,059,900
Schedule of Long-term Debt Maturities	Long-term debt matures as follows (in thousands): Fiscal Year Ended December 31, Minimum Payments 2022 $ 1,500 2023 6,000 2024 6,000 2025 6,000 2026 6,000 Thereafter 1,070,000 Total $ 1,095,500
Schedule of Estimated Fair Values of Debt Obligations	The following table presents the estimated fair values of the Company’s debt obligations as of September 30, 2022 (in thousands): Financial Instrument Carrying Value as of September 30, 2022 Markets for Identical Item (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) First Lien Term Loan $ 574,875 $ — $ 579,124 $ — Senior Notes 489,731 — 420,000 — Total debt instruments $ 1,064,606 $ — $ 999,124 $ —

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Amount and Location of Derivatives in the Balance Sheet	The following table summarizes the amount and location of the Company’s derivative instruments in the condensed consolidated balance sheets (in thousands): Fair Value - Derivatives in Asset Position Derivative Balance Sheet Caption September 30, 2022 December 31, 2021 Interest rate cap designated as cash flow hedge Prepaid expenses and other current assets $ 8,544 $ — Interest rate cap designated as cash flow hedge Other noncurrent assets 21,733 — Fair Value - Derivatives in Liability Position Derivative Balance Sheet Caption September 30, 2022 December 31, 2021 Interest rate cap designated as cash flow hedge Accrued expenses and other current liabilities $ — $ 601
Schedule of Pre-tax Gains (Losses) Recognized in the Statements of Comprehensive Income (Loss)	The following table presents the pre-tax gains from derivative instruments recognized in other comprehensive income in the Company’s unaudited condensed consolidated statements of comprehensive income (in thousands): Three Months Ended September 30, Nine Months Ended September 30, Derivative 2022 2021 2022 2021 Interest rate cap designated as cash flow hedge $ 10,653 $ — $ 30,879 $ — Interest rate swaps designated as cash flow hedges — 2,892 — 11,172 $ 10,653 $ 2,892 $ 30,879 $ 11,172 The following table presents the amount and location of pre-tax income (loss) recognized in the Company’s unaudited condensed consolidated statements of comprehensive income related to the Company’s derivative instruments (in thousands): Three Months Ended September 30, Nine Months Ended September 30, Derivative Income Statement Caption 2022 2021 2022 2021 Interest rate cap designated as cash flow hedge Interest expense $ (1,775) $ — $ (591) $ — Interest rate swaps designated as cash flow hedges Interest expense — (2,903) $ — $ (11,298) Interest rate swaps not designated as hedges Interest expense — — — (2) $ (1,775) $ (2,903) $ (591) $ (11,300)

NATURE OF OPERATIONS AND PRES_2

NATURE OF OPERATIONS AND PRESENTATION OF FINANCIAL STATEMENTS (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2022 suite pharmacy shares	Sep. 30, 2022 suite pharmacy segment shares
Business Acquisition [Line Items]
Number of infusion sites | suite	64	64
Number of operating segments | segment		1
Option Care Health
Business Acquisition [Line Items]
Ownership percentage	14.40%	14.40%
Secondary Offering | Common Stock
Business Acquisition [Line Items]
Additional shares issued (in shares) | shares	11,000,000	11,000,000
Legacy Health Systems
Business Acquisition [Line Items]
Ownership interest	50%	50%
OptionCare Enterprises, Inc.
Business Acquisition [Line Items]
Number of service locations | pharmacy	97	97

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Concentration Risk [Line Items]
Rebate receivable	$ 46,400		$ 46,400		$ 43,000
Investments in equity-method investees	21,700		21,700		$ 20,100
Proportionate share of earnings in equity-method investees	1,500	$ 1,700	4,065	$ 4,567
Prepaid expenses and other current assets
Concentration Risk [Line Items]
Assets held for sale	9,500		9,500
Accrued expenses and other current liabilities
Concentration Risk [Line Items]
Liabilities held for sale	$ 2,000		$ 2,000
Revenue from Contract with Customer Benchmark | Company's Largest Payer
Concentration Risk [Line Items]
Concentration ​risk	14%	16%	15%	16%
Revenue from Contract with Customer Benchmark | Governmental Healthcare Programs
Concentration Risk [Line Items]
Concentration ​risk	12%	12%	12%	12%
Accounts Receivable | Governmental Healthcare Programs
Concentration Risk [Line Items]
Concentration ​risk			11%		11%
Cost of Goods and Service, Product and Service Benchmark | Medical Supply Vendors
Concentration Risk [Line Items]
Concentration ​risk	74%	65%	73%	65%

BUSINESS COMBINATIONS AND ASS_3

BUSINESS COMBINATIONS AND ASSET ACQUISITIONS - Additional Information (Details) - USD ($)			1 Months Ended
	Dec. 29, 2021	Oct. 01, 2021	Aug. 31, 2022	Apr. 30, 2022
Infinity Infusion Nursing, LLC
Business Acquisition [Line Items]
Percentage of the combined company held		100%
Purchase price, net of cash acquired		$ 59,600,000
Other purchase price adjustments		$ 0
Wasatch Infusion LLC
Business Acquisition [Line Items]
Purchase Price	$ 19,455,000
SPNN
Business Acquisition [Line Items]
Percentage of the combined company held				100%
Purchase price, net of cash acquired				$ 59,900,000
Purchase Price			$ 27,619,000	$ 60,558,000
Rochester Home Infusion, Inc
Business Acquisition [Line Items]
Percentage of the combined company held			100%
Purchase price, net of cash acquired			$ 27,400,000

BUSINESS COMBINATIONS AND ASS_4

BUSINESS COMBINATIONS AND ASSET ACQUISITIONS - Preliminary Estimate of the Allocation Consideration Transferred (Details) - USD ($) $ in Thousands		1 Months Ended		9 Months Ended
	Dec. 29, 2021	Aug. 31, 2022	Apr. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill				$ 1,533,043		$ 1,512,246	$ 1,478,500	$ 1,477,564
Cash acquired		$ 201	$ 661
Less: cash acquired		(201)	(661)
Purchase price, net of cash acquired				$ 87,315	$ 18,852
Wasatch Infusion LLC
Business Acquisition [Line Items]
Accounts receivable	$ 2,688
Inventories	2,038
Intangible assets	4,245
Other assets	769
Accounts payable	(6,686)
Other assumed liabilities	(965)
Fair value Identifiable assets and liabilities	2,089
Goodwill	17,366
Purchase Price	$ 19,455
SPNN
Business Acquisition [Line Items]
Accounts receivable			2,303
Intangible assets			25,580
Other assets			600
Accrued compensation			(1,164)
Other assumed liabilities		(434)	(1,168)
Fair value Identifiable assets and liabilities		6,621	26,151
Goodwill		20,797	33,746
Cash acquired		201	661
Purchase Price		27,619	60,558
Less: cash acquired		(201)	(661)
Purchase price, net of cash acquired		27,418	$ 59,897
Rochester Home Infusion, Inc
Business Acquisition [Line Items]
Accounts receivable		1,212
Intangible assets		5,449
Other assets		$ 394

REVENUE - Net Revenue Earned by

REVENUE - Net Revenue Earned by Category of Payer (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Net revenue	$ 1,020,918	$ 891,937	$ 2,917,522	$ 2,511,446
Commercial payers
Disaggregation of Revenue [Line Items]
Net revenue	888,162	769,524	2,526,354	2,164,678
Government payers
Disaggregation of Revenue [Line Items]
Net revenue	122,793	106,645	357,383	307,067
Patients
Disaggregation of Revenue [Line Items]
Net revenue	$ 9,963	$ 15,768	$ 33,785	$ 39,701

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income tax (benefit) expense	$ 13,258	$ 3,087	$ 37,960	$ 5,096
Effective tax rate	25.50%	8%	26.90%	7.30%
Valuation allowance	$ 13,100		$ 13,100

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded (in shares)	520,944	496,929	794,887	387,656
Restricted Stock Award
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded (in shares)	13,561	38,536	476,329	272,540
Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded (in shares)		457,754		915,507

EARNINGS PER SHARE - Schedule o

EARNINGS PER SHARE - Schedule of Basic and Diluted Earnings (Loss) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Net income	$ 38,823	$ 33,929	$ 30,275	$ 35,476	$ 31,816	$ (2,861)	$ 103,027	$ 64,431
Denominator:
Weighted average number of common shares outstanding (in shares)	181,884			179,872			180,829	179,841
Effect of dilutive securities (in shares)	1,138			1,558			931	1,214
Weighted average number of common shares outstanding, diluted (in shares)	183,022			181,430			181,760	181,055
Earnings per common share, basic
Earnings per common share, basic (in dollars per share)	$ 0.21			$ 0.20			$ 0.57	$ 0.36
Earnings per common share, diluted
Earnings per common share, diluted (in dollars per share)	$ 0.21			$ 0.20			$ 0.57	$ 0.36

LEASES - Additional Information

LEASES - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Leases [Abstract]
Operating lease cost	$ 7.8	$ 7.8	$ 22.7	$ 22.3
Weighted-average remaining lease term, operating leases	6 years 7 months 6 days		6 years 7 months 6 days
Weighted-average discount rate, operating leases	5.17%		5.17%
Increase in operating lease right-of-use asset and lease liabilities			$ 13.6	$ 14.5

LEASES - Maturities of Lease Li

LEASES - Maturities of Lease Liabilities (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Minimum Payments
2022	$ 8,296
2023	23,052
2024	16,878
2025	13,987
2026	11,170
Thereafter	36,329
Total lease payments	109,712
Less: Interest	(18,602)
Present value of lease liabilities	$ 91,110

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 213,685		$ 213,685		$ 230,357
Less: accumulated depreciation	(117,373)		(117,373)		(118,822)
Property and equipment, net	96,312		96,312		111,535
Total depreciation expense	7,983	$ 9,140	25,033	$ 27,080
Depreciation expense in cost of revenue
Property, Plant and Equipment [Line Items]
Total depreciation expense	1,205	1,664	3,696	4,410
Depreciation expense in operating expenses
Property, Plant and Equipment [Line Items]
Total depreciation expense	6,778	$ 7,476	21,337	$ 22,670
Infusion pumps
Property, Plant and Equipment [Line Items]
Property and equipment, gross	36,221		36,221		34,547
Equipment, furniture and other
Property, Plant and Equipment [Line Items]
Property and equipment, gross	29,924		29,924		52,913
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	94,664		94,664		92,229
Computer software, purchased and internally developed
Property, Plant and Equipment [Line Items]
Property and equipment, gross	35,094		35,094		30,744
Assets under development
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 17,782		$ 17,782		$ 19,924

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Carrying Amount of Goodwill (Details) - USD ($)	3 Months Ended				9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Sep. 30, 2021
Goodwill [Roll Forward]
Goodwill - net book value, begging of period	$ 1,512,246,000	$ 1,478,500,000	$ 1,477,564,000
Goodwill, acquired during period	20,797,000	33,746,000	936,000	$ 0	$ 0
Goodwill - net book value, end of period	1,533,043,000	1,512,246,000	1,478,500,000
Change in the carrying amount	$ 20,797,000	$ 33,746,000	$ 936,000	$ 0	$ 0

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Carrying Amount and Accumulated Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Total gross intangible assets	$ 549,066		$ 549,066		$ 530,955
Total accumulated amortization	(176,513)		(176,513)		(164,935)
Total intangible assets, net	372,553		372,553		366,020
Amortization expense for intangible assets	8,400	$ 7,900	24,600	$ 25,500
Referral sources
Finite-Lived Intangible Assets [Line Items]
Total gross intangible assets	509,646		509,646		482,200
Total accumulated amortization	(160,159)		(160,159)		(137,613)
Trademarks/names
Finite-Lived Intangible Assets [Line Items]
Total gross intangible assets	38,508		38,508		47,718
Total accumulated amortization	(16,254)		(16,254)		(26,936)
Other amortizable intangible assets
Finite-Lived Intangible Assets [Line Items]
Total gross intangible assets	912		912		1,037
Total accumulated amortization	$ (100)		$ (100)		$ (386)

INDEBTEDNESS - Debt (Details)

INDEBTEDNESS - Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Principal Amount	$ 1,095,500	$ 1,100,000
Discount	(8,638)	(9,605)
Debt Issuance Costs	(22,256)	(24,495)
Net Balance	1,064,606	1,065,900
Less: current portion	(6,000)	(6,000)
Total long-term debt	1,058,606	1,059,900
Senior Notes | First Lien Term Loan
Debt Instrument [Line Items]
Principal Amount	595,500	600,000
Discount	(8,638)	(9,605)
Debt Issuance Costs	(11,987)	(13,331)
Net Balance	574,875	577,064
Senior Notes | Senior Notes
Debt Instrument [Line Items]
Principal Amount	500,000	500,000
Discount	0	0
Debt Issuance Costs	(10,269)	(11,164)
Net Balance	489,731	488,836
Senior Notes | Asset-based-lending (“ABL”) facility
Debt Instrument [Line Items]
Principal Amount	0	0
Discount	0	0
Debt Issuance Costs	0	0
Net Balance	$ 0	$ 0

INDEBTEDNESS - Additional Infor

INDEBTEDNESS - Additional Information (Details) - Credit Agreements Amendment - Senior Notes	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
First Lien Term Loan
Debt Instrument [Line Items]
Effective rate on term loans at end of period	5.27%		5.27%		3.25%
Weighted average interest rate paid on term loans during period	4.94%	3.84%	3.90%	5.87%
Second Lien Term Loan
Debt Instrument [Line Items]
Effective rate on term loans at end of period	4.375%		4.375%		4.375%
Weighted average interest rate paid on term loans during period	4.375%		4.375%

INDEBTEDNESS - Long Term Debt M

INDEBTEDNESS - Long Term Debt Maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
2022	$ 1,500
2023	6,000
2024	6,000
2025	6,000
2026	6,000
Thereafter	1,070,000
Total	$ 1,095,500	$ 1,100,000

INDEBTEDNESS - Estimated Fair V

INDEBTEDNESS - Estimated Fair Values of Debt Obligations (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Debt Instrument [Line Items]
Total debt instruments	$ 1,064,606
Markets for Identical Item (Level 1)
Debt Instrument [Line Items]
Total debt instruments	0
Significant Other Observable Inputs (Level 2)
Debt Instrument [Line Items]
Total debt instruments	999,124
Significant Unobservable Inputs (Level 3)
Debt Instrument [Line Items]
Total debt instruments	0
Senior Notes
Debt Instrument [Line Items]
Total debt instruments	489,731
Senior Notes | First Lien Term Loan
Debt Instrument [Line Items]
Total debt instruments	574,875
Senior Notes | Markets for Identical Item (Level 1)
Debt Instrument [Line Items]
Total debt instruments	0
Senior Notes | Markets for Identical Item (Level 1) | First Lien Term Loan
Debt Instrument [Line Items]
Total debt instruments	0
Senior Notes | Significant Other Observable Inputs (Level 2)
Debt Instrument [Line Items]
Total debt instruments	420,000
Senior Notes | Significant Other Observable Inputs (Level 2) | First Lien Term Loan
Debt Instrument [Line Items]
Total debt instruments	579,124
Senior Notes | Significant Unobservable Inputs (Level 3)
Debt Instrument [Line Items]
Total debt instruments	0
Senior Notes | Significant Unobservable Inputs (Level 3) | First Lien Term Loan
Debt Instrument [Line Items]
Total debt instruments	$ 0

DERIVATIVE INSTRUMENTS - Additi

DERIVATIVE INSTRUMENTS - Additional Information (Details) - Interest Rate Cap - First Lien Term Loan - Designated as Hedging Instrument - Senior Notes	1 Months Ended
	Oct. 31, 2021 USD ($)
Derivative [Line Items]
Notional amount of derivative	$ 300,000,000
Derivative, term of contract	5 years

DERIVATIVE INSTRUMENTS - Balanc

DERIVATIVE INSTRUMENTS - Balance Sheet Location of Derivatives (Details) - Designated as Hedging Instrument - Interest Rate Cap - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Prepaid expenses and other current assets
Fair Value - Derivatives in Liability Position
Derivative asset	$ 8,544	$ 0
Other noncurrent assets
Fair Value - Derivatives in Liability Position
Derivative asset	21,733	0
Accrued expenses and other current liabilities
Fair Value - Derivatives in Liability Position
Derivative liability	$ 0	$ 601

DERIVATIVE INSTRUMENTS - Pre-ta

DERIVATIVE INSTRUMENTS - Pre-tax Gain (Loss) on Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivative [Line Items]
Pre-tax gains (losses) on interest rate derivatives recognized	$ 10,653	$ 2,892	$ 30,879	$ 11,172
Total gain (loss) on derivatives	(1,775)	(2,903)	(591)	(11,300)
Interest Rate Cap
Derivative [Line Items]
Pre-tax gains (losses) on interest rate derivatives recognized	10,653	0	30,879	0
Interest Rate Cap | Interest expense
Derivative [Line Items]
Gain (loss) location of derivative instruments	(1,775)	0	(591)	0
Interest Rate Swap
Derivative [Line Items]
Pre-tax gains (losses) on interest rate derivatives recognized	0	2,892	0	11,172
Interest Rate Swap | Interest expense
Derivative [Line Items]
Gain (loss) location of derivative instruments	0	(2,903)	0	(11,298)
Gain (loss) location of derivative instruments not designated	$ 0	$ 0	$ 0	$ (2)

STOCK-BASED INCENTIVE COMPENS_2

STOCK-BASED INCENTIVE COMPENSATION (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	May 03, 2018
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of shares authorized (in shares)					9,101,734
HC I Incentive Units
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Share-based compensation expense	$ 4	$ 2.5	$ 12.6	$ 6.2

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - Common Stock - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
2017 Warrants
Class of Warrant or Right [Line Items]
Number of warrants exercisable (in shares)	0	0	1,130,089	0
Number of shares purchasable through warrants (in shares)	240,188		240,188		1,370,277
2015 Warrants
Class of Warrant or Right [Line Items]
Number of warrants exercisable (in shares)	31,968	0	900,272	0
Number of shares purchasable through warrants (in shares)	15,231		15,231		915,503

RELATED-PARTY TRANSACTIONS (Det

RELATED-PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Related Party Transaction [Line Items]
Capital distribution from equity method investments			$ 2,500	$ 1,250
Joint Venture
Related Party Transaction [Line Items]
Management fee income	$ 1,100	$ 900	2,900	2,600
Capital distribution from equity method investments	1,500	$ 1,300	2,500	$ 1,300
Due from joint venture	$ 800		$ 800
Due to joint ventures					$ 1,400