ELMSFORD, N.Y (AP) -- Pharmacy benefits manager BioScrip Inc. said Thursday that it will pay $70 million in cash to acquire HomeChoice, a company that offers non-hospital drug infusion services.
HomeChoice is a subsidiary of DaVita HealthCare Partners, which operates more than 1,900 dialysis centers across the U.S.
Headquartered in Norfolk, Va., HomeChoice has 14 infusion pharmacy locations in the Mid-Atlantic and Southern U.S.
BioScrip expects the transaction to close in the first quarter of 2013. The company estimates HomeChoice will generate $70 million in annual revenue after integration.
BioScrip Inc. shares rose 23 cents, or 2.15 percent, to $10.94 in trading Thursday.