March 26, 2010 (FinancialWire) — BioScrip, Inc. (NASDAQ: BIOS) said it has completed its acquisition of Critical Homecare Solutions Holdings, Inc., a provider of home infusion and home nursing products and services to patients suffering from chronic and acute medical conditions.

Under the terms of the transaction, BioScrip acquired CHS for a total of $237.9 million in cash and $109.8 million of BioScrip common stock, or approximately 13.1 million shares (based on BioScrip’s closing stock price of $8.37 on Wednesday, March 24, 2010).

BioScrip also issued to CHS shareholders around 3.40 million warrants having a $10.00 exercise price and a five-year term.

In connection with this acquisition, BioScrip said it has entered into a new senior credit facility for an aggregate amount of $150 million, consisting of a $100 million senior secured term loan and a $50 million senior secured revolving credit facility, both with a term of five years.

The company also issued $225.0 million of 10?% senior unsecured notes due October 1, 2015 in an unregistered offering.

Richard H. Friedman, chairman and CEO of BioScrip, said, “The combination of CHS and BioScrip represents a significant step forward in our strategy to become the clinical leader in the management of the chronically ill across all drug delivery technologies.”

He added that BioScrip will now have over 120 points of service including 33 Community Service Centers, 61 Specialty Infusion Pharmacies, three Mail Order Pharmacies and 33 Nursing locations, and operate in all 50 states with more than 1,000 managed care contracts.

New York-based BioScrip is a specialty pharmaceutical healthcare organization.

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