0001014739-22-000034 | 10-Q | XBRL Viewer

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Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2022	Jul. 25, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 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		181,861,467
Entity Central Index Key	0001014739
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
CURRENT ASSETS:
Cash and cash equivalents	$ 204,046	$ 119,423
Accounts receivable, net	362,772	338,242
Inventories	231,766	183,095
Prepaid expenses and other current assets	78,555	69,496
Total current assets	877,139	710,256
NONCURRENT ASSETS:
Property and equipment, net	105,210	111,535
Operating lease right-of-use asset	73,461	74,777
Intangible assets, net	23,161	21,433
Referral sources	352,368	344,587
Goodwill	1,512,246	1,477,564
Deferred income taxes	2,256	27,033
Other noncurrent assets	40,071	23,733
Total noncurrent assets	2,108,773	2,080,662
TOTAL ASSETS	2,985,912	2,790,918
CURRENT LIABILITIES:
Accounts payable	380,516	279,246
Accrued compensation and employee benefits	58,307	83,503
Accrued expenses and other current liabilities	91,284	71,857
Current portion of operating lease liability	19,201	19,089
Current portion of long-term debt	6,000	6,000
Total current liabilities	555,308	459,695
NONCURRENT LIABILITIES:
Long-term debt, net of discount, deferred financing costs and current portion	1,059,017	1,059,900
Operating lease liability, net of current portion	73,148	74,492
Other noncurrent liabilities	13,445	20,945
Total noncurrent liabilities	1,145,610	1,155,337
Total liabilities	1,700,918	1,615,032
STOCKHOLDERS’ EQUITY:
Preferred stock; $0.0001 par value; 12,500,000 shares authorized, no shares outstanding as of June 30, 2022 and December 31, 2021, respectively	0	0
Common stock; $0.0001 par value: 250,000,000 shares authorized, 182,213,292 shares issued and 181,829,570 shares outstanding as of June 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 June 30, 2022 and December 31, 2021, respectively	(2,403)	(2,403)
Paid-in capital	1,168,052	1,138,855
Retained earnings	104,071	39,867
Accumulated other comprehensive income (loss)	15,256	(451)
Total stockholders’ equity	1,284,994	1,175,886
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 2,985,912	$ 2,790,918

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 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)	182,213,292	180,309,637
Common stock, shares, outstanding (in shares)	181,829,570	179,925,915
Treasury stock, at cost (in shares)	383,722	383,722

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
NET REVENUE	$ 980,820	$ 860,272	$ 1,896,604	$ 1,619,509
COST OF REVENUE	763,920	661,304	1,478,768	1,255,068
GROSS PROFIT	216,900	198,968	417,836	364,441
OPERATING COSTS AND EXPENSES:
Selling, general and administrative expenses	141,787	134,257	275,756	254,297
Depreciation and amortization expense	16,037	16,619	30,759	32,958
Total operating expenses	157,824	150,876	306,515	287,255
OPERATING INCOME	59,076	48,092	111,321	77,186
OTHER INCOME (EXPENSE):
Interest expense, net	(12,765)	(17,236)	(25,011)	(36,717)
Equity in earnings of joint ventures	1,326	1,686	2,593	2,891
Other, net	1	5	3	(12,396)
Total other expense	(11,438)	(15,545)	(22,415)	(46,222)
INCOME BEFORE INCOME TAXES	47,638	32,547	88,906	30,964
INCOME TAX EXPENSE	13,709	731	24,702	2,009
NET INCOME	33,929	31,816	64,204	28,955
OTHER COMPREHENSIVE INCOME, NET OF TAX:
Change in unrealized gains on cash flow hedges, net of income tax expense of $756, $0, $4,519, and $0, respectively	4,637	4,199	15,707	8,280
OTHER COMPREHENSIVE INCOME	4,637	4,199	15,707	8,280
NET COMPREHENSIVE INCOME	$ 38,566	$ 36,015	$ 79,911	$ 37,235
EARNINGS PER COMMON SHARE:
Earnings per share, basic (in dollars per share)	$ 0.19	$ 0.18	$ 0.36	$ 0.16
Earnings per share, diluted (in dollars per share)	$ 0.19	$ 0.18	$ 0.35	$ 0.16
Weighted average common shares outstanding, basic (in shares)	180,621	179,843	180,293	179,826
Weighted average common shares outstanding, diluted (in shares)	181,618	181,037	181,176	180,975

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Unrealized gains (losses) on cash flow hedges, net of income tax expense	$ 756	$ 0	$ 4,519	$ 0

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 64,204,000	$ 28,955,000
Adjustments to reconcile net income to net cash provided by operations:
Depreciation and amortization expense	33,249,000	35,705,000
Non-cash operating lease costs	9,988,000	5,766,000
Deferred income taxes - net	24,777,000	907,000
Loss on extinguishment of debt	0	12,403,000
Amortization of deferred financing costs	2,117,000	2,512,000
Equity in earnings of joint ventures	(2,593,000)	(2,891,000)
Stock-based incentive compensation expense	8,576,000	3,730,000
Capital distribution from equity method investments	1,000,000	0
Other adjustments	506,000	261,000
Changes in operating assets and liabilities:
Accounts receivable, net	(22,950,000)	(9,866,000)
Inventories	(48,671,000)	(14,651,000)
Prepaid expenses and other current assets	(5,235,000)	4,627,000
Accounts payable	100,924,000	26,532,000
Accrued compensation and employee benefits	(26,384,000)	(907,000)
Accrued expenses and other current liabilities	18,900,000	6,425,000
Operating lease liabilities	(11,032,000)	(8,277,000)
Other noncurrent assets and liabilities	(10,422,000)	803,000
Net cash provided by operating activities	136,954,000	92,034,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property and equipment	(10,055,000)	(6,808,000)
Business acquisitions, net of cash acquired	(59,897,000)	(18,852,000)
Net cash used in investing activities	(69,952,000)	(25,660,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Exercise of stock options, vesting of restricted stock, and related tax withholdings	523,000	(78,000)
Proceeds from warrant exercises	20,098,000	0
Proceeds from issuance of debt	0	355,200,000
Repayments of debt	(3,000,000)	(5,888,000)
Retirement of debt	0	(352,009,000)
Deferred financing costs	0	(2,880,000)
Debt prepayment fees	0	(2,458,000)
Net cash provided by (used in) financing activities	17,621,000	(8,113,000)
NET INCREASE IN CASH AND CASH EQUIVALENTS	84,623,000	58,261,000
Cash and cash equivalents - beginning of the period	119,423,000	99,265,000
CASH AND CASH EQUIVALENTS - END OF PERIOD	204,046,000	157,526,000
Supplemental disclosure of cash flow information:
Cash paid for interest	21,793,000	37,405,000
Cash paid for income taxes	4,966,000	1,168,000
Cash paid for operating leases	$ 12,435,000	$ 12,909,000

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)	28,955
Other comprehensive income	8,280
Equity, ending balance at Jun. 30, 2021	1,056,611	0	18	(2,403)	1,132,964	(71,076)	(2,892)
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)
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)	64,204
Other comprehensive income	15,707
Equity, ending balance at Jun. 30, 2022	1,284,994	0	18	(2,403)	1,168,052	104,071	15,256
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

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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+ Details

NATURE OF OPERATIONS AND PRESENTATION OF FINANCIAL STATEMENTS	6 Months Ended
	Jun. 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 June 30, 2022. HC I holds approximately 20.5% 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 60 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 ACCOUNTING POLICIES	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Jun. 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 $47.0 million and $43.0 million as of June 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. 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 June 30, 2022 and December 31, 2021, the balance of the investments were $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 $1.3 million and $2.6 million for the three and six months ended June 30, 2022, respectively. The Company’s proportionate share of earnings was $1.7 million and $2.9 million for the three and six months ended June 30, 2021, respectively. See Footnote 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 15% and 15%, respectively, for the three and six months ended June 30, 2022. Revenue related to the Company’s largest payer was approximately 16% and 16% for the three and six months ended June 30, 2021. There were no other managed care contracts that represent greater than 10% of revenue for the periods presented. For the three and six months ended June 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 six months ended June 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 June 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 nor 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 six months ended June 30, 2022, approximately 72% and 73%, respectively, of the Company’s pharmaceutical and medical supply purchases were from four vendors. For the three and six months ended June 30, 2021 approximately 64% 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 June 30, 2022 the Company has been able to maintain adequate levels of supplies and pharmaceuticals to support its operations.

BUSINESS COMBINATIONS AND ASSET ACQUISITIONS

6 Months Ended

Jun. 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 June 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.

Business Combinations and Asset Acquisitions

BUSINESS COMBINATIONS AND ASSET ACQUISITIONS


	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

REVENUE

6 Months Ended

Jun. 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 six months ended June 30, 2022 and 2021 (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Commercial payers	$	851,915	$	746,647	$	1,638,192	$	1,395,154
Government payers	119,385		102,581		234,590		200,422
Patients	9,520		11,044		23,822		23,933
Net revenue	$	980,820	$	860,272	$	1,896,604	$	1,619,509

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES During the three and six months ended June 30, 2022, the Company recorded tax expense of $13.7 million and $24.7 million, respectively, which represents an effective tax rate of 28.8% and 27.8%, respectively. The variance in the Company’s effective tax rate of 28.8% and 27.8% for the three and six months ended June 30, 2022, respectively, 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 six months ended June 30, 2021, the Company recorded tax expense of $0.7 million and $2.0 million which represents an effective tax rate of 2.2% and 6.5%, respectively. The variance in the Company’s effective tax rate of 2.2% and 6.5% for the three and six months ended June 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 $13.0 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 of 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 six months ended June 30, 2022 of $13.7 million and $24.7 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 six months ended June 30, 2021 of $0.7 million and $2.0 million, respectively, consists of quarterly tax liabilities attributed to specific state taxing authorities as well as recognized deferred tax expense. The Company has accumulated federal net operating loss carryovers that are subject to one or more Section 382 limitations. This may limit the Company’s ability to utilize its federal net operating losses.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

EARNINGS PER SHARE

6 Months Ended

Jun. 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 six months ended June 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 June 30, 2022, there were 900,378 stock option awards and 136,568 restricted stock awards outstanding that were excluded from the calculation of earnings per share as they would be anti-dilutive. For the six months ended June 30, 2022, there were 836,957 stock option awards and 389,831 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 June 30, 2021, there were 915,507 warrants and 547,310 stock option awards outstanding that were excluded from the calculation of earnings per share as they would be anti-dilutive. For the six months ended June 30, 2021, there were 915,507 warrants and 433,440 stock option 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 June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Numerator:
Net income	$	33,929	$	31,816	$	64,204	$	28,955
Denominator:
Weighted average number of common shares outstanding	180,621		179,843		180,293		179,826
Earnings per common share:
Earnings per common share, basic	$	0.19	$	0.18	$	0.36	$	0.16

The following table presents the Company’s diluted earnings per share and shares outstanding (in thousands, except per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Numerator:
Net income	$	33,929	$	31,816	$	64,204	$	28,955
Denominator:
Weighted average number of common shares outstanding	180,621		179,843		180,293		179,826
Effect of dilutive securities	997		1,194		883		1,149
Weighted average number of common shares outstanding, diluted	181,618		181,037		181,176		180,975
Earnings per common share:
Earnings per common share, diluted	$	0.19	$	0.18	$	0.35	$	0.16

LEASES

6 Months Ended

Jun. 30, 2022

Leases [Abstract]

Leases

LEASES

During the three and six months ended June 30, 2022, the Company incurred operating lease expenses of $7.4 million and $14.8 million, respectively, including short-term lease expense, which were included as a component of selling, general and administrative expense in the unaudited condensed consolidated statements of comprehensive income. During the three and six months ended June 30, 2021, the Company incurred operating lease expenses of $6.9 million and $14.5 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 June 30, 2022, the weighted-average remaining lease term was 6.7 years and the weighted-average discount rate was 5.10%.

Operating leases mature as follows (in thousands):


Fiscal Year Ended December 31,	Minimum Payments
2022	$	14,539
2023	22,190
2024	16,215
2025	13,388
2026	10,416
Thereafter	34,835
Total lease payments	$	111,583
Less: Interest	(19,234)
Present value of lease liabilities	$	92,349

During the six months ended June 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 of $8.4 million related to increases in the operating lease right-of-use assets and operating lease liabilities, respectively. During the six months ended June 30, 2021, the Company commenced new leases, extensions and amendments, resulting in non-cash operating activities in the unaudited condensed consolidated statements of cash flow of $5.7 million related to increases in the operating lease right-of-use assets and operating lease liabilities, respectively. As of June 30, 2022, the Company did not have any significant operating or financing leases that had not yet commenced.

Leases

LEASES

Operating leases mature as follows (in thousands):


Fiscal Year Ended December 31,	Minimum Payments
2022	$	14,539
2023	22,190
2024	16,215
2025	13,388
2026	10,416
Thereafter	34,835
Total lease payments	$	111,583
Less: Interest	(19,234)
Present value of lease liabilities	$	92,349

PROPERTY AND EQUIPMENT

6 Months Ended

Jun. 30, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

PROPERTY AND EQUIPMENT

Property and equipment was as follows as of June 30, 2022 and December 31, 2021 (in thousands):


	June 30, 2022		December 31, 2021
Infusion pumps	$	36,516	$	34,547
Equipment, furniture and other	58,557		52,913
Leasehold improvements	96,799		92,229
Computer software, purchased and internally developed	33,969		30,744
Assets under development	14,721		19,924
	240,562		230,357
Less: accumulated depreciation	(135,352)		(118,822)
Property and equipment, net	$	105,210	$	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 six months ended June 30, 2022 and 2021 (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Depreciation expense in cost of revenue	$	1,233	$	1,369	$	2,491	$	2,747
Depreciation expense in operating expenses	7,371		7,589		14,559		15,188
Total depreciation expense	$	8,604	$	8,958	$	17,050	$	17,935

GOODWILL AND OTHER INTANGIBLE ASSETS

6 Months Ended

Jun. 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 six months June 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

There were no changes in the carrying amount of goodwill for the three or six months ended June 30, 2021.

The carrying amount and accumulated amortization of intangible assets consists of the following as of June 30, 2022 and December 31, 2021 (in thousands):


	June 30, 2022		December 31, 2021
Gross intangible assets:
Referral sources	$	504,812	$	482,200
Trademarks/names	38,172		47,718
Other amortizable intangible assets	634		1,037
Total gross intangible assets	543,618		530,955

Accumulated amortization:
Referral sources	(152,444)		(137,613)
Trademarks/names	(15,611)		(26,936)
Other amortizable intangible assets	(34)		(386)
Total accumulated amortization	(168,089)		(164,935)
Total intangible assets, net	$	375,529	$	366,020

Amortization expense for intangible assets was $8.7 million and $16.2 million for the three and six months ended June 30, 2022, respectively. Amortization expense for intangible assets was $9.0 million and $17.6 million for the three and six months ended June 30, 2021, respectively.

INDEBTEDNESS

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Indebtedness

INDEBTEDNESS

Long-term debt consisted of the following as of June 30, 2022 (in thousands):


	Principal Amount		Discount		Debt Issuance Costs		Net Balance
Asset-based-lending (“ABL”) facility	$	—	$	—	$	—	$	—
First Lien Term Loan	597,000		(8,966)		(12,443)		575,591
Senior Notes	500,000		—		(10,574)		489,426
	$	1,097,000	$	(8,966)	$	(23,017)	1,065,017
Less: current portion							(6,000)
Total long-term debt							$	1,059,017

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 3.81% and 3.25% as of June 30, 2022 and December 31, 2021, respectively. The weighted average interest rate incurred on the First Lien Term Loan was 3.52% and 3.39% for the three and six months ended June 30, 2022, respectively. The weighted average interest rate incurred on the First Lien Term Loan was 3.85% and 3.91% for the three and six months ended June 30, 2021, respectively. The interest rate on the Senior Notes was 4.375% as of both June 30, 2022 and December 31, 2021, respectively. The weighted average interest rate incurred on the Senior Secured Notes was 4.375% for both the three and six months ended June 30, 2022, respectively.

Long-term debt matures as follows (in thousands):


Fiscal Year Ended December 31,	Minimum Payments
2022	$	3,000
2023	6,000
2024	6,000
2025	6,000
2026	6,000
Thereafter	1,070,000
Total	$	1,097,000

During the three and six months ended June 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 June 30, 2022 (in thousands):


Financial Instrument	Carrying Value as of June 30, 2022		Markets for Identical Item (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
First Lien Term Loan	$	575,591	$	—	$	571,628	$	—
Senior Notes	489,426		—		430,000		—
Total debt instruments	$	1,065,017	$	—	$	1,001,628	$	—

See Note 12, Fair Value Measurements, for further discussion.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1I
-Subparagraph (d)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 470
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-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

DERIVATIVE INSTRUMENTS

6 Months Ended

Jun. 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 Facility’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	June 30, 2022		December 31, 2021
Interest rate cap designated as cash flow hedge	Prepaid expenses and other current assets	$	4,853	$	—
Interest rate cap designated as cash flow hedge	Other noncurrent assets	14,771		—

Fair value - Derivatives in liability position

Derivative

Balance Sheet Caption

June 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 are 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 June 30,				Six Months Ended June 30,
Derivative	2022		2021		2022		2021
Interest rate cap designated as cash flow hedge	$	5,393	$	—	$	20,226	$	—
Interest rate swaps designated as cash flow hedges	—		4,199		—		8,280

	$	5,393	$	4,199	$	20,226	$	8,280

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 June 30,				Six Months Ended June 30,
Derivative	Income Statement Caption	2022		2021		2022		2021
Interest rate cap designated as cash flow hedge	Interest expense	$	491	$	—	$	1,184	$	—
Interest rate swaps designated as cash flow hedges	Interest expense	—		(4,246)		$	—	$	(8,395)
Interest rate swaps not designated as hedges	Interest expense	—		(1)		—		(2)

		$	491	$	(4,247)	$	1,184	$	(8,397)

FAIR VALUE MEASURMENTS	6 Months Ended
FAIR VALUE MEASURMENTS	Jun. 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 June 30, 2022 and December 31, 2021.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

COMMITMENTS AND CONTINGENCIES	6 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 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 COMPENSATION	6 Months Ended
STOCK-BASED INCENTIVE COMPENSATION	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Incentive Compensation	STOCK-BASED INCENTIVE COMPENSATIONEquity 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 Board of Directors. The Company had stock options, restricted stock and performance stock units outstanding related to the 2018 Plan as of June 30, 2022. During the three and six months ended June 30, 2022, total stock-based incentive compensation expense recognized by the Company related to these plans was $4.4 million and $8.6 million, respectively. During the three and six months ended June 30, 2021, total stock-based incentive compensation expense recognized by the Company related to these plans was $2.5 million and $3.7 million, respectively.

STOCKHOLDERS' EQUITY	6 Months Ended
STOCKHOLDERS' EQUITY	Jun. 30, 2022
Equity [Abstract]
Stockholders' Equity	STOCKHOLDERS’ EQUITY 2017 Warrants — During the three and six months ended June 30, 2022, warrant holders elected to exercise 1,130,089 warrants to purchase shares of common stock. During the three and six months ended June 30, 2021, warrant holders did not elect to exercise any warrants to purchase shares of common stock. As of June 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 six months ended June 30, 2022, warrant holders elected to exercise 868,304 warrants to purchase shares of common stock. During the three and six months ended June 30, 2021, warrant holders did not elect to exercise any warrants to purchase shares of common stock. As of June 30, 2022 and December 31, 2021, the remaining warrant holders are entitled to purchase 47,199 and 915,503 shares of common stock, respectively.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section 50
-Paragraph 16
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 505
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-Paragraph 13
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 6
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008

+ Details

RELATED-PARTY TRANSACTIONS	6 Months Ended
RELATED-PARTY TRANSACTIONS	Jun. 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 $0.9 million and $1.8 million for the three and six months ended June 30, 2022, respectively. The Company recorded management fee income of $0.9 million and $1.7 million for the three and six months ended June 30, 2021, respectively. Management fees are recorded in net revenues in the accompanying unaudited condensed consolidated statements of comprehensive income. During the three and six months ended June 30, 2022, the Company received $1.0 million in distributions from the investees. During the three and six months ended June 30, 2021, the Company did not receive a distribution from the investees. The Company had amounts due to its joint ventures of $0.7 million as of June 30, 2022. Payables were included in accrued expenses and other current liabilities 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 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 ACCOUNTING POLICIES (Policies)	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jun. 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 June 30, 2022 and December 31, 2021, the balance of the investments were $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 15% and 15%, respectively, for the three and six months ended June 30, 2022. Revenue related to the Company’s largest payer was approximately 16% and 16% for the three and six months ended June 30, 2021. There were no other managed care contracts that represent greater than 10% of revenue for the periods presented. For the three and six months ended June 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 six months ended June 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 June 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 nor 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 six months ended June 30, 2022, approximately 72% and 73%, respectively, of the Company’s pharmaceutical and medical supply purchases were from four vendors. For the three and six months ended June 30, 2021 approximately 64% 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.
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 ASSET ACQUISITIONS (Tables)

6 Months Ended

Jun. 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.

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 June 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

REVENUE (Tables)

6 Months Ended

Jun. 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 six months ended June 30, 2022 and 2021 (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Commercial payers	$	851,915	$	746,647	$	1,638,192	$	1,395,154
Government payers	119,385		102,581		234,590		200,422
Patients	9,520		11,044		23,822		23,933
Net revenue	$	980,820	$	860,272	$	1,896,604	$	1,619,509

EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings (Loss) 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 June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Numerator:
Net income	$	33,929	$	31,816	$	64,204	$	28,955
Denominator:
Weighted average number of common shares outstanding	180,621		179,843		180,293		179,826
Earnings per common share:
Earnings per common share, basic	$	0.19	$	0.18	$	0.36	$	0.16

The following table presents the Company’s diluted earnings per share and shares outstanding (in thousands, except per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Numerator:
Net income	$	33,929	$	31,816	$	64,204	$	28,955
Denominator:
Weighted average number of common shares outstanding	180,621		179,843		180,293		179,826
Effect of dilutive securities	997		1,194		883		1,149
Weighted average number of common shares outstanding, diluted	181,618		181,037		181,176		180,975
Earnings per common share:
Earnings per common share, diluted	$	0.19	$	0.18	$	0.35	$	0.16

LEASES (Tables)

6 Months Ended

Jun. 30, 2022

Leases [Abstract]

Maturities of Lease Liabilities, Operating

Operating leases mature as follows (in thousands):


Fiscal Year Ended December 31,	Minimum Payments
2022	$	14,539
2023	22,190
2024	16,215
2025	13,388
2026	10,416
Thereafter	34,835
Total lease payments	$	111,583
Less: Interest	(19,234)
Present value of lease liabilities	$	92,349

PROPERTY AND EQUIPMENT (Tables)

6 Months Ended

Jun. 30, 2022

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment was as follows as of June 30, 2022 and December 31, 2021 (in thousands):


	June 30, 2022		December 31, 2021
Infusion pumps	$	36,516	$	34,547
Equipment, furniture and other	58,557		52,913
Leasehold improvements	96,799		92,229
Computer software, purchased and internally developed	33,969		30,744
Assets under development	14,721		19,924
	240,562		230,357
Less: accumulated depreciation	(135,352)		(118,822)
Property and equipment, net	$	105,210	$	111,535

The following table presents the amount of depreciation expense recorded in cost of revenue and operating expenses for the three and six months ended June 30, 2022 and 2021 (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Depreciation expense in cost of revenue	$	1,233	$	1,369	$	2,491	$	2,747
Depreciation expense in operating expenses	7,371		7,589		14,559		15,188
Total depreciation expense	$	8,604	$	8,958	$	17,050	$	17,935

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 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 six months June 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

Schedule of Carrying Amount and Accumulated Amortization of Intangible Assets

The carrying amount and accumulated amortization of intangible assets consists of the following as of June 30, 2022 and December 31, 2021 (in thousands):


	June 30, 2022		December 31, 2021
Gross intangible assets:
Referral sources	$	504,812	$	482,200
Trademarks/names	38,172		47,718
Other amortizable intangible assets	634		1,037
Total gross intangible assets	543,618		530,955

Accumulated amortization:
Referral sources	(152,444)		(137,613)
Trademarks/names	(15,611)		(26,936)
Other amortizable intangible assets	(34)		(386)
Total accumulated amortization	(168,089)		(164,935)
Total intangible assets, net	$	375,529	$	366,020

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

INDEBTEDNESS (Tables)

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Schedule of Debt

Long-term debt consisted of the following as of June 30, 2022 (in thousands):


	Principal Amount		Discount		Debt Issuance Costs		Net Balance
Asset-based-lending (“ABL”) facility	$	—	$	—	$	—	$	—
First Lien Term Loan	597,000		(8,966)		(12,443)		575,591
Senior Notes	500,000		—		(10,574)		489,426
	$	1,097,000	$	(8,966)	$	(23,017)	1,065,017
Less: current portion							(6,000)
Total long-term debt							$	1,059,017

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	$	3,000
2023	6,000
2024	6,000
2025	6,000
2026	6,000
Thereafter	1,070,000
Total	$	1,097,000

Schedule of Estimated Fair Values of Debt Obligations

The following table presents the estimated fair values of the Company’s debt obligations as of June 30, 2022 (in thousands):


Financial Instrument	Carrying Value as of June 30, 2022		Markets for Identical Item (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
First Lien Term Loan	$	575,591	$	—	$	571,628	$	—
Senior Notes	489,426		—		430,000		—
Total debt instruments	$	1,065,017	$	—	$	1,001,628	$	—

DERIVATIVE INSTRUMENTS (Tables)

6 Months Ended

Jun. 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	June 30, 2022		December 31, 2021
Interest rate cap designated as cash flow hedge	Prepaid expenses and other current assets	$	4,853	$	—
Interest rate cap designated as cash flow hedge	Other noncurrent assets	14,771		—

Fair value - Derivatives in liability position

Derivative

Balance Sheet Caption

June 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 June 30,				Six Months Ended June 30,
Derivative	2022		2021		2022		2021
Interest rate cap designated as cash flow hedge	$	5,393	$	—	$	20,226	$	—
Interest rate swaps designated as cash flow hedges	—		4,199		—		8,280

	$	5,393	$	4,199	$	20,226	$	8,280


		Three Months Ended June 30,				Six Months Ended June 30,
Derivative	Income Statement Caption	2022		2021		2022		2021
Interest rate cap designated as cash flow hedge	Interest expense	$	491	$	—	$	1,184	$	—
Interest rate swaps designated as cash flow hedges	Interest expense	—		(4,246)		$	—	$	(8,395)
Interest rate swaps not designated as hedges	Interest expense	—		(1)		—		(2)

		$	491	$	(4,247)	$	1,184	$	(8,397)

NATURE OF OPERATIONS AND PRESENTATION OF FINANCIAL STATEMENTS (Details)	6 Months Ended
	Jun. 30, 2022 pharmacy segment
Business Acquisition [Line Items]
Number of operating segments \| segment	1
Legacy Health Systems
Business Acquisition [Line Items]
Ownership interest	50.00%
OptionCare Enterprises, Inc.
Business Acquisition [Line Items]
Number of service locations \| pharmacy	97
HC Group Holdings I, LLC
Business Acquisition [Line Items]
Percentage of common stock	0.205

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Concentration Risk [Line Items]
Rebate receivable	$ 47,000		$ 47,000		$ 43,000
Investments in equity-method investees	21,700		21,700		$ 20,100
Proportionate share of earnings in equity-method investees	$ 1,300	$ 1,700	$ 2,593	$ 2,891
Revenue from Contract with Customer Benchmark \| Company's Largest Payer
Concentration Risk [Line Items]
Concentration risk	15.00%	16.00%	15.00%	16.00%
Revenue from Contract with Customer Benchmark \| Governmental Healthcare Programs
Concentration Risk [Line Items]
Concentration risk	12.00%	12.00%	12.00%	12.00%
Accounts Receivable \| Governmental Healthcare Programs
Concentration Risk [Line Items]
Concentration risk			11.00%		11.00%
Cost of Goods and Service, Product and Service Benchmark \| Medical Supply Vendors
Concentration Risk [Line Items]
Concentration risk	72.00%	64.00%	73.00%	65.00%

BUSINESS COMBINATIONS AND ASSET ACQUISITIONS - Additional Information (Details) - USD ($)			1 Months Ended	3 Months Ended
	Dec. 29, 2021	Oct. 01, 2021	Apr. 30, 2022	Mar. 31, 2022
Infinity Infusion Nursing, LLC
Business Acquisition [Line Items]
Percentage of the combined company held		100.00%
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			100.00%
Purchase price, net of cash acquired			$ 59,900,000
Purchase Price			$ 60,558,000

BUSINESS ACQUISITIONS - Preliminary Estimate of the Allocation Consideration Transferred (Details) - USD ($) $ in Thousands		1 Months Ended	6 Months Ended
	Dec. 29, 2021	Apr. 30, 2022	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill			$ 1,512,246		$ 1,478,500	$ 1,477,564
Cash acquired		$ 661
Less: cash acquired		(661)
Purchase price, net of cash acquired			$ 59,897	$ 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		(1,168)
Fair value Identifiable assets and liabilities		26,151
Goodwill		33,746
Cash acquired		661
Purchase Price		60,558
Less: cash acquired		(661)
Purchase price, net of cash acquired		$ 59,897

REVENUE - Net Revenue Earned by Category of Payer (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Net revenue	$ 980,820	$ 860,272	$ 1,896,604	$ 1,619,509
Commercial payers
Disaggregation of Revenue [Line Items]
Net revenue	851,915	746,647	1,638,192	1,395,154
Government payers
Disaggregation of Revenue [Line Items]
Net revenue	119,385	102,581	234,590	200,422
Patients
Disaggregation of Revenue [Line Items]
Net revenue	$ 9,520	$ 11,044	$ 23,822	$ 23,933

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (a)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income tax (benefit) expense	$ 13,709	$ 731	$ 24,702	$ 2,009
Effective tax rate	28.80%	2.20%	27.80%	6.50%
Valuation allowance	$ 13,000		$ 13,000

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

EARNINGS PER SHARE - Additional Information (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded (in shares)		915,507		915,507
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded (in shares)	900,378	547,310	836,957	433,440
Restricted Stock Award
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded (in shares)	136,568		389,831

EARNINGS PER SHARE - Schedule of Basic and Diluted Earnings (Loss) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net income	$ 33,929	$ 30,275	$ 31,816	$ (2,861)	$ 64,204	$ 28,955
Denominator:
Weighted average number of common shares outstanding (in shares)	180,621		179,843		180,293	179,826
Effect of dilutive securities (in shares)	997		1,194		883	1,149
Weighted average number of common shares outstanding, diluted (in shares)	181,618		181,037		181,176	180,975
Earnings per common share, basic
Earnings per common share, basic (in dollars per share)	$ 0.19		$ 0.18		$ 0.36	$ 0.16
Earnings per common share, diluted
Earnings per common share, diluted (in dollars per share)	$ 0.19		$ 0.18		$ 0.35	$ 0.16

LEASES - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Operating lease cost	$ 7.4	$ 6.9	$ 14.8	$ 14.5
Weighted-average remaining lease term, operating leases	6 years 8 months 12 days		6 years 8 months 12 days
Weighted-average discount rate, operating leases	5.10%		5.10%
Increase in operating lease right-of-use asset and lease liabilities			$ 8.4	$ 5.7

LEASES - Maturities of Lease Liabilities (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Minimum Payments
2022	$ 14,539
2023	22,190
2024	16,215
2025	13,388
2026	10,416
Thereafter	34,835
Total lease payments	111,583
Less: Interest	(19,234)
Present value of lease liabilities	$ 92,349

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 240,562		$ 240,562		$ 230,357
Less: accumulated depreciation	(135,352)		(135,352)		(118,822)
Property and equipment, net	105,210		105,210		111,535
Total depreciation expense	8,604	$ 8,958	17,050	$ 17,935
Depreciation expense in cost of revenue
Property, Plant and Equipment [Line Items]
Total depreciation expense	1,233	1,369	2,491	2,747
Depreciation expense in operating expenses
Property, Plant and Equipment [Line Items]
Total depreciation expense	7,371	$ 7,589	14,559	$ 15,188
Infusion pumps
Property, Plant and Equipment [Line Items]
Property and equipment, gross	36,516		36,516		34,547
Equipment, furniture and other
Property, Plant and Equipment [Line Items]
Property and equipment, gross	58,557		58,557		52,913
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	96,799		96,799		92,229
Computer software, purchased and internally developed
Property, Plant and Equipment [Line Items]
Property and equipment, gross	33,969		33,969		30,744
Assets under development
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 14,721		$ 14,721		$ 19,924

GOODWILL AND OTHER INTANGIBLE ASSETS - Carrying Amount of Goodwill (Details) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2021
Goodwill [Roll Forward]
Goodwill - net book value, begging of period	$ 1,478,500,000	$ 1,477,564,000
Goodwill, acquired during period	33,746,000	936,000	$ 0	$ 0
Goodwill - net book value, end of period	1,512,246,000	1,478,500,000
Change in the carrying amount	$ 33,746,000	$ 936,000	$ 0	$ 0

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

GOODWILL AND OTHER INTANGIBLE ASSETS - Carrying Amount and Accumulated Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Total gross intangible assets	$ 543,618		$ 543,618		$ 530,955
Total accumulated amortization	(168,089)		(168,089)		(164,935)
Total intangible assets, net	375,529		375,529		366,020
Amortization expense for intangible assets	8,700	$ 9,000	16,200	$ 17,600
Referral sources
Finite-Lived Intangible Assets [Line Items]
Total gross intangible assets	504,812		504,812		482,200
Total accumulated amortization	(152,444)		(152,444)		(137,613)
Trademarks/names
Finite-Lived Intangible Assets [Line Items]
Total gross intangible assets	38,172		38,172		47,718
Total accumulated amortization	(15,611)		(15,611)		(26,936)
Other amortizable intangible assets
Finite-Lived Intangible Assets [Line Items]
Total gross intangible assets	634		634		1,037
Total accumulated amortization	$ (34)		$ (34)		$ (386)

INDEBTEDNESS - Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Principal Amount	$ 1,097,000	$ 1,100,000
Discount	(8,966)	(9,605)
Debt Issuance Costs	(23,017)	(24,495)
Net Balance	1,065,017	1,065,900
Less: current portion	(6,000)	(6,000)
Total long-term debt	1,059,017	1,059,900
Senior Notes \| First Lien Term Loan
Debt Instrument [Line Items]
Principal Amount	597,000	600,000
Discount	(8,966)	(9,605)
Debt Issuance Costs	(12,443)	(13,331)
Net Balance	575,591	577,064
Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Principal Amount	500,000	500,000
Discount	0	0
Debt Issuance Costs	(10,574)	(11,164)
Net Balance	489,426	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 Information (Details) - Credit Agreements Amendment - Senior Notes	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
First Lien Term Loan
Debt Instrument [Line Items]
Effective rate on term loans at end of period	3.81%		3.81%		3.25%
Weighted average interest rate paid on term loans during period	3.52%	3.85%	3.39%	3.91%
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 Maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
2022	$ 3,000
2023	6,000
2024	6,000
2025	6,000
2026	6,000
Thereafter	1,070,000
Total	$ 1,097,000	$ 1,100,000

INDEBTEDNESS - Estimated Fair Values of Debt Obligations (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Debt Instrument [Line Items]
Total debt instruments	$ 1,065,017
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	1,001,628
Significant Unobservable Inputs (Level 3)
Debt Instrument [Line Items]
Total debt instruments	0
Senior Notes
Debt Instrument [Line Items]
Total debt instruments	489,426
Senior Notes \| First Lien Term Loan
Debt Instrument [Line Items]
Total debt instruments	575,591
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	430,000
Senior Notes \| Significant Other Observable Inputs (Level 2) \| First Lien Term Loan
Debt Instrument [Line Items]
Total debt instruments	571,628
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 - 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 - Balance Sheet Location of Derivatives (Details) - Designated as Hedging Instrument - Interest Rate Cap - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Prepaid expenses and other current assets
Fair value - Derivatives in liability position
Derivative asset	$ 4,853	$ 0
Other noncurrent assets
Fair value - Derivatives in liability position
Derivative asset	14,771	0
Accrued expenses and other current liabilities
Fair value - Derivatives in liability position
Derivative liability	$ 0	$ 601

DERIVATIVE INSTRUMENTS - Pre-tax Gain (Loss) on Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative [Line Items]
Pre-tax gains (losses) on interest rate derivatives recognized	$ 5,393	$ 4,199	$ 20,226	$ 8,280
Total gain (loss) on derivatives	491	(4,247)	1,184	(8,397)
Interest Rate Cap
Derivative [Line Items]
Pre-tax gains (losses) on interest rate derivatives recognized	5,393	0	20,226	0
Interest Rate Cap \| Interest expense
Derivative [Line Items]
Gain (loss) location of derivative instruments	491	0	1,184	0
Interest Rate Swap
Derivative [Line Items]
Pre-tax gains (losses) on interest rate derivatives recognized	0	4,199	0	8,280
Interest Rate Swap \| Interest expense
Derivative [Line Items]
Gain (loss) location of derivative instruments	0	(4,246)	0	(8,395)
Gain (loss) location of derivative instruments not designated	$ 0	$ (1)	$ 0	$ (2)

STOCK-BASED INCENTIVE COMPENSATION (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 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	$ 4.4	$ 2.5	$ 8.6	$ 3.7

STOCKHOLDERS' EQUITY (Details) - Common Stock - shares	3 Months Ended		6 Months Ended
STOCKHOLDERS' EQUITY (Details) - Common Stock - shares	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
2017 Warrants
Class of Warrant or Right [Line Items]
Number of warrants exercisable (in shares)	1,130,089	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)	868,304	0	868,304	0
Number of shares purchasable through warrants (in shares)	47,199		47,199		915,503

RELATED-PARTY TRANSACTIONS (Details) - USD ($)	3 Months Ended		6 Months Ended
RELATED-PARTY TRANSACTIONS (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Related Party Transaction [Line Items]
Capital distribution from equity method investments	$ 1,000,000	$ 0	$ 1,000,000	$ 0
Joint Venture
Related Party Transaction [Line Items]
Management fee income	900,000	$ 900,000	1,800,000	$ 1,700,000
Due to joint ventures	$ 700,000		$ 700,000		$ 1,400,000

- Definition

Carrying amount as of the balance sheet date of obligations due all related parties.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
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-Name Accounting Standards Codification
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- Definition

Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details