BioScrip Holds Annual Meeting; Re-Affirms Focus on Specialty Services.ELMSFORD, N.Y. -- In remarks at its annual stockholders' meeting, Chairman and Chief Executive Officer, Richard H. Friedman outlined BioScrip's (Nasdaq: BIOS BIOS in full Basic Input/Output System Computer program that is typically stored in EPROM and used by the CPU to perform start-up procedures when the computer is turned on. ) 2008 key goals and objectives as well as its growth initiatives. At that meeting, Mr. Friedman stated that "By all accounts, BioScrip had a successful year as indicated by the execution of our strategic initiatives. We solidified so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. our foundation allowing us to grow our specialty service model. Most importantly Adv. 1. most importantly - above and beyond all other consideration; "above all, you must be independent" above all, most especially , BioScrip returned to profitability in 2007 and I expect that 2008 will be profitable." Mr. Friedman noted that payors and manufacturers have a need for effective and proven product and service offerings to manage therapy and disease conditions. BioScrip's service-driven programs are proving successful. In addition, Mr. Friedman also reported that effective April 1, 2008, BioScrip was designated by UnitedHealthcare as the sole provider of HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. and Solid Organ Transplant solid organ transplant Immunology A transplanted solid organ–eg, heart, liver, kidney, as contrasted to 'liquid' transplanted tissues–eg, BM, pancreatic islets. See Transplant, Transplantation. medications through an amendment to the previously announced contract. At today's annual meeting, all eight of the Company's directors proposed for election to BioScrip's Board were duly elected. Stockholders also ratified rat·i·fy tr.v. rat·i·fied, rat·i·fy·ing, rat·i·fies To approve and give formal sanction to; confirm. See Synonyms at approve. the selection of Ernst & Young LLP LLP - Lower Layer Protocol as BioScrip's independent auditors Independent Auditor An external auditor with a certified public accounting designation that qualifies him or her to provide an auditor's report. Notes: These auditors aren't affiliated with the company being audited. for 2008 and approved the Company's 2008 Equity Incentive Plan. In closing, Mr. Friedman stated, "Our sales trends are strong. In the first quarter of 2008 BioScrip experienced a temporary margin decline of approximately 1% primarily as a result of a shift in payor mix and an increase in drug acquisition costs that we were not able to pass on until the latter part of the first quarter. BioScrip made significant strides in 2007 and remains committed to increasing stockholder value." About BioScrip, Inc. BioScrip, Inc. (www.bioscrip.com) (Nasdaq: BIOS) is a specialty pharmaceutical healthcare organization that partners with patients, physicians, healthcare payors and pharmaceutical manufacturers to provide access to medications and management solutions to optimize outcomes for chronic and other complex healthcare conditions. Forward Looking Statements This press release may contain statements which constitute forward looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, including statements regarding the intent, belief or current expectations of the Company, its directors, or its officers with respect to the future operating performance of the Company. Investors are cautioned that any such forward looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward looking statements as a result of various factors. Important factors that could cause such differences are described in the Company's periodic filings with the Securities and Exchange Commission. |
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