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EXHIBIT 99
FRIDAY JUNE 2, 8:30 AM EASTERN TIME
COMPANY PRESS RELEASE
SOURCE: OPTION CARE, INC.
OPTION CARE ANNOUNCES MANAGEMENT CHANGES
BANNOCKBURN, Ill., June 2 /PRNewswire/ Option Care, Inc., providing specialty
pharmaceutical products and services for intravenous delivery, today
announced several management changes. Chief Operating Officer Raj Rai was
elected president and COO, and Chairman John Kapoor became chief executive
officer, replacing the former President and CEO Michael Rusnak, who left the
company to pursue other business opportunities. In addition, Option Care
promoted Michael Siri to senior vice president and chief financial officer
from his prior position as vice president and CFO.
"On behalf of the board of directors, I want to thank Mike Rusnak for
leading the turnaround at Option Care and developing a very solid operation.
We wish him the best of luck in his next endeavor," said Kapoor. "We are
confident that Raj Rai will be able to take the company to the next level by
implementing the strategies for double-digit growth he helped to develop:
expanding OptionMed, our specialty pharmaceutical distribution division,
along with identifying key acquisitions. We also are pleased to recognize
Mike Siri's excellent work as our CFO through his promotion to senior vice
president."
Rai, 33, has been Option Care's chief operating officer since August 1999,
during which time he solidified the model for the company's OptionMed
subsidiary. For nearly a year prior to this, he was executive vice president
of Option Care Enterprises, where he was responsible for the double-digit
growth in revenue and operating profit for the company's owned locations. Rai
has served in a number of positions with the company since August 1992, from
senior vice president to general manager to a variety of duties in the
Finance Department. He has a B.S. in mechanical engineering from Regional
Engineering College in Warangal, India, and received his MBA in finance from
Wayne State University. Rai resides in Gurnee, Illinois.
Siri, 45, has been vice president and CFO since October 1998. From July 1998
to October 1998, he served as Option Care's vice president-finance. Before
this, Siri was executive director finance and treasurer for Culligan Water
Technologies. He holds a B.S. in accounting from Indiana University and an
MBA in finance from the University of Chicago. Siri, his wife Diane and their
two children live in Hawthorn Woods, Illinois.
Option Care, Inc. is an alternate site and high-tech pharmaceutical service
provider, operating through a nationwide network of about 140 locations. The
company has contracts to provide managed care organizations and other
third-party payors with pharmaceutical and high-cost injectable products that
can be used by patients in settings other than their doctors' offices. One of
the company's wholly owned subsidiaries, OptionMed-TM-, markets specialty
drugs and pharmacy consulting services directly to managed care organizations
for the benefit of their physicians and patients. Another wholly owned
subsidiary, Management by Information (MBI), supplies state-of-the-art data
management products and services to the home health industry. Founded in
1979, Option Care trades on Nasdaq under the symbol OPTN.
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This news release contains forward-looking statements. These statements
involve risks and uncertainties, including, without limitation, the company's
ability to profitably execute its growth strategy. Please see Option Care's
filings and reports with the Securities and Exchange Commission for
additional risk factors.
Further information on Option Care can be found at WWW.OPTIONCARE.COM and
WWW.MBIMBI.COM
SOURCE: OPTION CARE, INC.
