EQUITY-METHOD INVESTMENTS

6 Months Ended

Jun. 30, 2020

Equity Method Investments and Joint Ventures [Abstract]

EQUITY-METHOD INVESTMENTS

The Company’s two equity-method investments totaled $18.0 million and $17.0 million as of June 30, 2020 and December 31, 2019, respectively, and are included in other noncurrent assets in the accompanying condensed consolidated balance sheets. The Company’s related proportionate share of earnings is recorded in equity in earnings of joint ventures in the accompanying unaudited condensed consolidated statements of comprehensive income (loss). For the three and six months ended June 30, 2020, the Company’s proportionate share of earnings in its investments was $1.0 million and $1.6 million, respectively. For the three and six months ended June 30, 2019, the Company’s proportionate share of earnings in its investment was $0.6 million and $1.2 million, respectively.

Legacy Health Systems — The Company’s 50% ownership interest in this limited liability company, which provides infusion pharmacy services, expands the Company’s presence in the Portland, Oregon market. In 2005, Option Care’s initial cash investment in this joint venture was $1.3 million. The Company received a capital distribution from this investment of $0 and $0.5 million for the three and six months ended June 30, 2020. The Company did not receive a capital distribution from this investment for the three or six months ended June 30, 2019. The following presents condensed financial information as of June 30, 2020 and December 31, 2019 and for the three and six months ended June 30, 2020 and 2019 (in thousands).


Consolidated statements of comprehensive income (loss) data:
	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net revenue	$	6,520	$	4,789	$	12,011	$	9,396
Cost of revenue	4,772		3,432		8,712		6,799
Gross profit	1,748		1,357		3,299		2,597
Net income	633		257		1,150		507
Equity in net income	316		129		574		254

Consolidated balance sheet data:
					As of
					June 30, 2020		December 31, 2019
Current assets					$	8,401	$	7,643
Noncurrent assets					3,387		3,846
Current liabilities					1,213		903
Noncurrent liabilities					498		659

Vanderbilt Health Services — The Company’s 50% ownership interest in this limited liability company, which provides infusion pharmacy services, expands the Company’s presence in the Nashville, Tennessee market. In 2009, Option Care contributed both cash and certain operating assets into the joint venture for a total initial investment of $1.1 million. The following presents condensed financial information as of June 30, 2020 and December 31, 2019 and for the three and six months ended June 30, 2020 and 2019 (in thousands).


Consolidated statements of comprehensive income (loss) data:
	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net revenue	$	11,972	$	9,925	$	22,480	$	19,163
Cost of revenue	9,341		7,468		17,981		14,517
Gross profit	2,631		2,457		4,499		4,646
Net income	1,391		1,028		1,999		1,876
Equity in net income	696		514		1,000		938

Consolidated balance sheet data:
					As of
					June 30, 2020		December 31, 2019
Current assets					$	14,684	$	11,111
Noncurrent assets					1,699		2,033
Current liabilities					2,680		1,228
Noncurrent liabilities					745		956