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BioScrip to pay $70M for offsite pharmacy company

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.