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<TITLE>S-8</TITLE>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>As filed with the Securities and Exchange Commission on May&nbsp;16, 2008</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 6pt"><B>Registration No.&nbsp;333-</B>
</DIV>


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>






<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REGISTRATION STATEMENT<BR>
UNDER THE SECURITIES ACT OF 1933</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>BIOSCRIP, INC.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact Name of Registrant as Specified in its Charter)</DIV>


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    <TD align="center" valign="top"><B>Delaware</B><BR>
(State or Other Jurisdiction of <BR>
Incorporation or Organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>05-0489664</B><BR>
(I.R.S. Employer Identification No.)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>100 Clearbrook Road <BR>
Elmsford, NY 10523</B><BR>
(Address of Principal Executive Offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;<B>10523</B><BR>
(Zip
Code)</TD>
</TR>
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</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>Restricted Stock Grant Agreements<BR>
Stock Option Agreements<BR>
BioScrip, Inc. 2008 Equity Incentive Plan</B><BR>
(Full Title of the Plan)

</DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>Barry A. Posner<BR>
General Counsel<BR>
BioScrip, Inc.<BR>
100 Clearbrook Road<BR>
Elmsford, NY 10523</B><BR>
(Name and Address of Agent for Service)<BR>
<BR>
<B>(914)&nbsp;460-1600</B><BR>
(Telephone Number, Including Area Code, of Agent for Service)

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated filer, or a smaller reporting company. See the definitions of &#147;large accelerated
filer,&#148; &#147;accelerated filer&#148; and &#147;smaller
reporting company&#148; in Rule&nbsp;12b-2 of the Exchange Act.
(Check one):<BR>
</DIV>


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    <TD width="22%">&nbsp;</TD>
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    <TD align="center" valign="top">Large accelerated filer <FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Accelerated filer <FONT face="Wingdings">&#254;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Non-accelerated filer <FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>Smaller reporting company <FONT face="Wingdings">&#111;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>(Do not check if a smaller reporting company)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
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</TABLE>
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<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>CALCULATION OF REGISTRATION FEE</B>

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
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    <TD width="2%">&nbsp;</TD>
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    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Title of Securities</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount to be</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Offering</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Aggregate</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount of</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="left">&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>to be Registered</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Registered (1)(2)</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Price Per Share (3)</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Offering Price (3)</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Registration Fee (3)</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>

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    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
                    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common Stock, par
value $0.0001 per
share</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">3,370,000</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">3.95</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">13,311,500</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">523.14</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common Stock, par
value $0.0001 per
share</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">210,339</TD>
    <TD nowrap style="border-top: 2px solid #000000">(4)</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">3.95</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">830,840</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">32.65</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:30px; text-indent:-15px">Total</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">555.79</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>

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</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pursuant to Rule&nbsp;416 under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;),
this registration statement also covers an indeterminate number of additional shares of common
stock issuable with respect to the shares being registered hereunder by reason of any stock
dividend, stock split, recapitalization or other similar transaction effected without the
receipt of consideration that increases the number of the registrant&#146;s outstanding shares of
common stock.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Includes the associated Series&nbsp;A Junior Participating Preferred Stock purchase rights.<BR></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Estimated pursuant to Rule 457(h) under the Securities Act for the purpose of determining
the registration fee, based upon the average of the high and low prices on May&nbsp;14, 2008.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Represents 160,339 shares of restricted common stock issued pursuant to certain restricted
stock awards and 50,000 shares of common stock issuable upon the exercise of certain stock
options, all of which were issued as an inducement material to such persons entering into
employment with the registrant.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





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<DIV style="font-family: 'Times New Roman',Times,serif">








<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
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</TR>
<TR><TD colspan="9"><A HREF="#000"> PART I</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;1. Plan Information</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;2. Registrant Information and Employee Plan Annual Information</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">PART II</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;3. Incorporation of Documents by Reference</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;4. Description of Securities</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;5. Interests of Named Experts and Counsel</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007">Item&nbsp;6. Indemnification of Directors and Officers</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#008">Item&nbsp;7. Exemption from Registration Claimed</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#009">Item&nbsp;8. Exhibits</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#010">Item&nbsp;9. Undertakings</A></TD></TR>
<TR><TD colspan="9"><A HREF="#011">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#012">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="y58638exv5w1.htm">EX-5.1: OPINION OF BARRY A. POSNER</A></TD></TR>
<TR><TD colspan="9"><A HREF="y58638exv23w1.htm">EX-23.1: CONSENT OF ERNST & YOUNG LLP</A></TD></TR>
<TR><TD colspan="9"><A HREF="y58638exv99w1.htm">EX-99.1: 2008 EQUITY INCENTIVE PLAN</A></TD></TR>
<TR><TD colspan="9"><A HREF="y58638exv99w2.htm">EX-99.2: FORM OF STOCK OPTION AGREEMENT</A></TD></TR>
<TR><TD colspan="9"><A HREF="y58638exv99w3.htm">EX-99.3: FORM OF RESTRICTED STOCK GRANT CERTIFICATE</A></TD></TR>
</TABLE>
</CENTER>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>







<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXPLANATORY NOTE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This Registration Statement contains two parts. The first part contains a resale prospectus
prepared in accordance with General Instruction C of Form S-8 and in accordance with the
requirements of Part&nbsp;I of Form S-3, which covers reoffers and resales of &#147;restricted securities&#148;
and/or &#147;control securities&#148; upon the vesting of restricted stock grants and the exercise of stock
options granted by the registrant to employees outside of the registrants&#146; stock option plans. The
second part of this Registration Statement contains information required in the Registration
Statement pursuant to Part&nbsp;II of Form S-8.
</DIV>
<!-- link1 " PART I" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART I<BR>
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>
</DIV>

<!-- link2 "Item&nbsp;1. Plan Information " -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;1. Plan Information</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In accordance with Rule&nbsp;428 under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;),
and the instructional note to Part&nbsp;I of Form S-8, the information specified in Part&nbsp;I of Form S-8
has been omitted from the filing of this registration statement. The documents containing the
information specified in Part&nbsp;I of Form S-8 will be sent or given to participating employees as
specified by Rule&nbsp;428(b)(1) of the Securities Act. Such documents and the documents incorporated by
reference in this registration statement pursuant to Item&nbsp;3 of Part&nbsp;II of this registration
statement, taken together, constitute a prospectus that meets the requirements of Section 10(a) of
the Securities Act.
</DIV>
<!-- link2 "Item&nbsp;2. Registrant Information and Employee Plan Annual Information" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;2. Registrant Information and Employee Plan Annual Information</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Upon written or oral request by a participant in the 2008 Equity Incentive Plan, the Registrant
will provide any of the documents incorporated by reference into the Section 10(a) prospectus,
which documents are incorporated by reference into the Section 10(a) prospectus, and any document
required to be delivered to the participants pursuant to Rule&nbsp;428(b), in each case without charge,
by contacting:
</DIV>
<DIV align="left" style="font-size: 10pt; margin-left: 9%; margin-top: 6pt">BioScrip, Inc.<BR>
100 Clearbrook Road<BR>
Elmsford, NY 10523<BR>
Attention: General Counsel<BR>
(914)&nbsp;460-1600
</DIV>


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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="y58638y5863800.gif" alt="(BIOSCRIP LOGO)">
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">Resale Prospectus

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">210,339 shares of Common Stock

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>BioScrip, Inc.</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This prospectus relates to the offer and sale from time to time of up to 210,339 shares (the
&#147;Shares&#148;) of our common stock by the selling stockholders named in this prospectus. The Shares
include 160,339 shares of our restricted common stock issued pursuant to certain restricted stock
award agreements and 50,000 shares of our common stock underlying stock options issuable pursuant
to certain stock option agreements. The selling stockholders may offer the shares from time to
time through public or private transactions at prevailing market prices, at prices related to
prevailing market prices or at other negotiated prices. A selling stockholder may sell none, some
or all of the shares offered by this prospectus. We cannot predict when or in what amounts a
selling stockholder may sell any of the shares offered by this prospectus. We will not receive any
of the proceeds from the sale of shares by the selling stockholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">All costs, expenses and fees in connection with the registration of the Shares will be borne by us.
Brokerage commissions and other selling expenses, if any, will be borne by the selling
stockholders. See &#147;Use of Proceeds and Plan of Distribution.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our common stock is traded on the Nasdaq Global Market under the symbol &#147;BIOS.&#148; On May&nbsp;12, 2008,
the closing price for our common stock was $3.79 per share.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">INVESTING IN OUR COMMON STOCK INVOLVES SIGNIFICANT RISKS THAT ARE DESCRIBED IN THE &#147;RISK FACTORS&#148;
SECTION BEGINNING ON PAGE 2 OF THIS PROSPECTUS.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR
DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THIS PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY
REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">The date of this prospectus is May&nbsp;16, 2008.
</DIV>


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<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Table of Contents
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">The Company</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Risk Factors</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cautionary Statement Regarding Forward-Looking Statements</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">The Selling Stockholders</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Use of Proceeds and Plan of Distribution</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Legal Matters</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Experts</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Where You Can Find More Information</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Incorporation of Certain Documents By Reference</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Preliminary Note</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>You should rely only on the information contained in this prospectus. We have not authorized anyone
to provide you with information that is different. The selling stockholders are offering to sell
and seeking offers to buy shares of our common stock only in jurisdictions where offers and sales
are permitted. The information contained in this prospectus is accurate only as of the date of this
prospectus, regardless of the time of delivery of this prospectus or of any sale of our common
stock.</B>
</DIV>


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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>The Company</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We are a specialty pharmaceutical healthcare organization that partners with patients, physicians,
healthcare payors and pharmaceutical manufacturers to provide access to medications and management
solutions to optimize outcomes for chronic and other complex healthcare conditions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our specialty pharmaceutical services (&#147;Specialty Services&#148;) include the comprehensive support,
dispensing and distribution, patient care management, data reporting as well as a range of other
complex management services for certain medications. These medications include orals, injectables
and infusibles used to treat patients living with chronic health conditions and are provided in
various capacities to patients, physicians, healthcare payors and pharmaceutical manufacturers. Our
pharmacy benefit management (&#147;PBM&#148;) services include pharmacy network management, claims
processing, benefit design, drug utilization review, formulary management and traditional mail
order pharmacy fulfillment. These services are reported under two operating segments: (i)&nbsp;Specialty
Services; and (ii)&nbsp;PBM and Mail Services (collectively, &#147;PBM Services&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Specialty Services and PBM Services revenues are derived from our relationships with healthcare
payors including managed care organizations, government-funded and/or operated programs,
pharmaceutical manufacturers, patients and physicians as well as a variety of third party payors,
including third party administrators (&#147;TPAs&#148;) and self-funded employer groups (collectively &#147;Plan
Sponsors&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our Specialty Services are marketed and/or sold primarily to healthcare payors, pharmaceutical
manufacturers, physicians, and patients, and target certain specialty medications that are used to
treat patients living with chronic health conditions. These services include the distribution of
biotech and other high cost injectable, oral and infusible prescription medications and the
provision of therapy management services.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our PBM Services are marketed to healthcare payors including employer groups and TPAs and are
designed to promote a broad range of cost-effective, clinically appropriate pharmacy benefit
management services through our national PBM retail network and our own mail service distribution
facility. We also administer prescription discount card programs on behalf of commercial Plan
Sponsors, most typically TPAs. Under such programs we derive revenue on a per claim basis from the
dispensing network pharmacy.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Over the past several years our strategic growth has been focused on building our Specialty
Services. Consequently, Specialty Services revenues have grown to more than 80% of our total
revenue.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our principal executive offices are located at 100 Clearbrook Road, Elmsford, NY 10523, and our
telephone number is (914)&nbsp;460-1600. Our website is <I>www.bioscrip.com</I>. The information on our website
is not part of this prospectus.
</DIV>

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Risk Factors</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">An investment in our common stock involves a high degree of risk. You should consider carefully the
risks and uncertainties described below and the other information in this prospectus, including our
financial statements and related notes, before deciding to invest in our common stock. If any of
the following risks or uncertainties actually occurs, our business, financial condition and
operating results would likely suffer. Additional risks and uncertainties not currently known to us
or those we currently view to be immaterial may also materially adversely affect our business,
financial condition or results of operations. In that event(s), the market price of the offered
securities could decline and you could lose all or part of the money you paid to buy our common
stock.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Competition in the pharmaceutical healthcare services industry could reduce profit margins.</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The pharmaceutical healthcare services industry is very competitive. Our competitors include large
and well-established companies that may have greater financial, marketing and technological
resources than we do.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The specialty pharmacy industry is highly competitive. Some of our competitors are under common
control with, or ownership by, pharmaceutical wholesalers and distributors, pharmacy benefit
managers or retail pharmacy chains and may be better positioned with respect to the cost-effective
distribution of pharmaceuticals. In addition, some of our competitors may have secured long-term
supply or distribution arrangements for prescription pharmaceuticals necessary to treat certain
chronic disease states on price terms substantially more favorable than the terms currently
available to us. As a result of such advantageous pricing, we may be less price competitive than
some of these competitors with respect to certain pharmaceutical products. Our competitive position
could also be adversely affected by any inability to obtain access to new biotech pharmaceutical
products.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Over the last several years competition in the marketplace has caused many PBMs, including us, to
reduce the prices charged to clients for core services and share a larger portion of the formulary
fees and rebates received from pharmaceutical manufacturers with clients. This combination of lower
pricing and increased rebate sharing, as well as increased demand for enhanced service offerings
and higher service levels, have put pressure on operating margins. In addition, some of our larger
competitors may offer services and pricing terms that we may not be able to offer. This competition
may make it more difficult to maintain existing customers and attract new customers and may cause
us to face the risk of declining reimbursement levels without achieving corresponding reductions in
costs of revenues. Competition may also come from other sources in the future. As a result, we may
not continue to remain competitive in the PBM marketplace, and competition could have an adverse
effect on our business and financial results.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Changes in industry pricing benchmarks could adversely affect our financial performance.</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Contracts in the prescription drug industry, including our contracts with our retail pharmacy
networks and our PBM and specialty pharmacy clients, generally use certain published benchmarks to
establish pricing for prescription medications. These benchmarks include Average Wholesale Price
(&#147;AWP&#148;), wholesale acquisition cost and average manufacturer price. Most of our commercial
contracts utilize the AWP benchmark.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In 2006, First DataBank, a leading provider of electronic drug information to the healthcare
industry, entered into a proposed settlement to address certain practices regarding the
establishment of the benchmark AWP for medications. While the court recently denied without
prejudice final approval of the proposed settlement, if the proposed settlement, or one including
similar provisions, is ultimately approved, it may have industry-wide impact on prescription
pricing. We generally utilize Medi-Span for determining AWP; in 2007, Medi-Span entered into a
proposed settlement agreement similar to that agreed to by First DataBank. We are paid by many
Health Plans and PBMs as a mail order and specialty pharmacy using AWP as reported by First
DataBank. Most of our provider and payor agreements contain provisions that allow us to manage the
impact of this proposed settlement if ratified as is or modified by the parties or the court. At
this time we are unable to determine whether changes to AWP pricing methodology or the First
DataBank and Medi-Span AWP settlements would have a material adverse effect on us or our financial
condition or prospects.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Most of our provider and payor agreements contain provisions that allow us to manage the impact of
this proposed settlement, if ratified as is or modified by the parties or the court. However, we
can give no assurance that the short or long-term impact of changes to industry pricing benchmarks
will not have a material adverse effect on our financial performance, results of operations and
financial condition in future periods.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Client demands for enhanced service levels or possible loss or unfavorable modification of
contracts with clients or providers could pressure margins.</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As our clients face the continued rapid growth in prescription drug costs, they may demand
additional services and enhanced service levels to help mitigate the increase in spending. We
operate in a very competitive environment, and we may not be able to increase our fees to
compensate for these increased services, which could put pressure on our margins.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our contracts with clients generally do not have terms longer than three years and, in some cases,
may be terminated by the client on relatively short notice. Our clients generally seek bids from
other PBM or specialty providers in advance of the expiration of their contracts. If several of
these clients elect not to extend their relationship with us, and we are not successful in
generating sales to replace the lost business, our future business and operating results could be
materially adversely affected. In addition, we believe the managed care industry is undergoing
substantial consolidation, and another party that is not our client could acquire some of our
managed care clients. In such case, the likelihood such client would renew its contract with us
could be reduced.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">More than 58,000 retail pharmacies, which represent more than 98% of all United States retail
pharmacies, participate in our PBM pharmacy network. The top ten retail pharmacy chains represent
approximately 48% of the total number of stores and over 60% of prescriptions filled in our
network. Our contracts with retail pharmacies, which are non-exclusive, are generally terminable on
relatively short notice. If one or more of the top pharmacy chains elects to terminate its
relationship with us, our members&#146; access to retail pharmacies and our business could be materially
adversely affected. In addition, many large pharmacy chains either own PBMs today, or could attempt
to acquire a PBM in the future. Ownership of PBMs by retail pharmacy chains could have material
adverse effects on our relationships with such pharmacy chains and on our consolidated results of
operations, consolidated financial position and/or consolidated cash flow from operations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Pending and future litigation could subject us to significant monetary damages and/or require us to
change our business practices.</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We are subject to risks relating to litigation and other proceedings in connection with our
operations, including the dispensing of pharmaceutical products by our mail service and community
pharmacies. A list of the more material proceedings pending against us is included under Part&nbsp;I,
Item&nbsp;3, &#147;Legal Proceedings&#148; to the Annual Report on Form 10-K for the year ended December&nbsp;31, 2007,
incorporated by reference herein. While we believe that these suits are without merit and intend
to contest them vigorously, we can give no assurance that an adverse outcome in one or more of
these suits would not have a material adverse effect on our consolidated results of operations,
consolidated financial position and/or consolidated cash flow from operations, or would not require
us to make material changes to our business practices. We are presently responding to several
subpoenas and requests for information from governmental agencies. We confirmed that BioScrip is
not a target or a potential subject of those investigations and requests. We cannot predict with
certainty what the outcome of any of the foregoing might be. In addition to potential monetary
liability arising from these suits and proceedings, we are incurring costs in the defense of the
suits and in providing documents to government agencies. Certain of the costs are covered by our
insurance, but certain other costs are not insured. Such costs have become material to our
financial performances and we can give no assurance that such costs will not increase in the
future.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>We may be subject to liability claims for damages and other expenses that are not covered by
insurance.</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A successful product or professional liability claim in excess of our insurance coverage could harm
our financial condition and results of operations. Various aspects of our business may subject us
to litigation and liability for damages, including the performance of PBM Services and the
operation of our pharmacies. A successful professional liability claim in excess of our insurance
coverage could harm our financial condition and results of operations. For example, a prescription
drug dispensing error could result in a patient receiving the wrong or
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">incorrect amount of medication, leading to personal injury or death. Our business, financial
condition and results of operations could suffer if we pay damages or defense costs in connection
with a claim that is outside the scope of any applicable contractual indemnity or insurance
coverage.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Existing and new government legislative and regulatory action could adversely affect our business
and financial results.</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As a participant in the pharmaceutical healthcare services industry, our operations are subject to
complex and evolving Federal and state laws and regulations and enforcement by Federal and state
governmental agencies. These laws and regulations are described in detail at Part&nbsp;I, Item&nbsp;1,
&#147;Business &#151; Government Regulation&#148; of our Annual Report on Form 10-K for the year ended December
31, 2007, incorporated by reference herein. While we believe we are operating our business in
substantial compliance with all existing legal requirements material to the operation of our
business, different interpretations and enforcement policies of these laws and regulations could
subject our current practices to allegations of impropriety or illegality, or could require us to
make significant changes to our operations. In addition, if we fail to comply with existing or
future applicable laws and regulations, we could suffer civil or criminal penalties, including our
ability to participate in Federal and state healthcare programs. In addition, we cannot predict the
impact of future legislation and regulatory changes on our business or assure that we will be able
to obtain or maintain the regulatory approvals required to operate our business.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, under the Deficit Reduction Act of 2006, additional Federal government matching of
state Medicaid funding was provided for states that commit resources to additional auditing of
Medicaid and Medicare fraud. This initiative has led to increased auditing activities by state
healthcare regulators. As such, we have been the subject of increased audits by these state
regulators. While we believe that we are in compliance with Medicaid and Medicare billing rules and
requirements, there can be no assurance that regulators disagree with the methodology employed by
us in billing for our products and services. While we believe that we are in material and
substantial compliance with the billing rules and requirements of Medicaid and Medicare, a material
disagreement between us and these governmental agencies on the manner in which we provide products
or services could have a material adverse effect on our business, operations, financial position
and results of operations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Loss of relationships with one or more pharmaceutical manufacturers and changes in payments made by
pharmaceutical manufacturers could adversely affect our business and financial results.</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We have contractual relationships with pharmaceutical manufacturers that provide discounts on drugs
dispensed from our mail service and community pharmacies, and pay service fees for other programs
and services that we provide. Our business and financial results could be adversely affected if:
(i)&nbsp;we were to lose relationships with one or more key pharmaceutical manufacturers; (ii)&nbsp;discounts
decline due to changes in utilization of specified pharmaceutical products by health Plan Sponsors
and other clients; (iii)&nbsp;legal restrictions are imposed on the ability of pharmaceutical
manufacturers to offer rebates, administrative fees or other discounts or to purchase our programs
or services; or (iv)&nbsp;pharmaceutical manufacturers choose not to offer rebates, administrative fees
or other discounts or to purchase our programs or services.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Failure to develop new products, services and delivery channels may adversely affect our business.</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We operate in a highly competitive environment. We develop new products and services from time to
time to assist our clients in managing the pharmacy benefit. If we are unsuccessful in developing
innovative products and services, our ability to attract new clients and retain existing clients
may suffer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Technology is also an important component of our business, as we continue to utilize new and better
channels to communicate and interact with our clients, members and business partners. If our
competitors are more successful than us in employing this technology, our ability to attract new
clients, retain existing clients and operate efficiently may suffer.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>The success of our business depends on maintaining a well-secured business and technology
infrastructure.</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We are dependent on our infrastructure, including our information systems, for many aspects of our
business operations. A fundamental requirement for our business is the secure storage and
transmission of personal health information and other confidential data. Our business and
operations may be harmed if we do not maintain our business processes and information systems, and
the integrity of our confidential information. Although we have developed systems and processes
that are designed to protect information against security breaches, failure to protect such
information or mitigate any such breaches may adversely affect our operating results. Malfunctions
in our business processes, breaches of our information systems or the failure to maintain effective
and up-to-date information systems could disrupt our business operations, result in customer and
member disputes, damage our reputation, expose us to risk of loss or litigation, result in
regulatory violations, increase administrative expenses or lead to other adverse consequences.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The use of personal health information in our business is regulated at Federal, state and local
levels. These laws and rules change frequently and developments often require adjustments or
modifications to our technology infrastructure. Noncompliance with these regulations could harm our
business, financial condition and results of operations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Problems in the implementation and conversion of our new pharmacy system could result in additional
expense.</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company has committed significant resources in a new pharmacy dispensing, clinical management
and accounts receivable management system designed to streamline our business processes, provide
improved data reporting, data management, scalability and cash posting and billing and collections.
Delays in the implementation of this system could result in higher operating costs, additional
charges for system design changes or delays in the execution of our strategic plan due to our
inability to scale our current operating systems.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Our failure to maintain controls and processes over billing and collecting could have a significant
negative impact on our results of operations and financial condition.</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The collection of accounts receivable is a significant challenge and requires constant focus and
involvement by management and ongoing enhancements to information systems and billing center
operating procedures. If we are unable to properly bill and collect our accounts receivable, our
results could be materially and adversely affected. While management believes that controls and
processes are satisfactory there can be no assurance that accounts receivable collectibility will
remain at current levels.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Efforts to reduce healthcare costs and alter health care financing practices could adversely affect
our business.</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">During the past several years, the U.S. healthcare industry has been subject to an increase in
governmental regulation at both the Federal and state levels. Certain proposals have been made at
the Federal and state government levels in an effort to control healthcare costs, including
lowering reimbursement and/or proposing to lower reimbursement under Medicaid and Medicare
programs. These proposals include &#147;single payor&#148; government funded healthcare and price controls on
prescription drugs. If these or similar efforts are successful our business and operations could be
materially adversely affected. In addition, changing political, economic and regulatory influences
may affect healthcare financing and reimbursement practices. If the current healthcare financing
and reimbursement system changes significantly, our business could be materially adversely
affected. Congress periodically considers proposals to reform the U.S. healthcare system. These
proposals may increase government involvement in healthcare and regulation of PBM services, or
otherwise change the way our clients do business. Health Plan Sponsors may react to these proposals
and the uncertainty surrounding them by reducing or delaying purchases of cost control mechanisms
and related services that we provide. We cannot predict what effect, if any, these proposals may
have on our business. Other legislative or market-driven changes in the healthcare system that we
cannot anticipate could also materially adversely affect our consolidated results of operations,
consolidated financial position and/or consolidated cash flow from operations.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Prescription volumes may decline, and our net revenues and profitability may be negatively
impacted, when products are withdrawn from the market or when increased safety risk profiles of
specific drugs result in utilization decreases.</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We process significant volumes of pharmacy claims for brand-name and generic drugs from our mail
service and community pharmacies and through our network of retail pharmacies. These volumes are
the basis for our net revenues and profitability. When products are withdrawn by manufacturers, or
when increased safety risk profiles of specific drugs or classes of drugs result in utilization
decreases, physicians may cease writing or reduce the numbers of prescriptions written for these
drugs. Additionally, negative media reports regarding drugs with higher safety risk profiles may
result in reduced consumer demand for such drugs. In cases where there are no acceptable
prescription drug equivalents or alternatives for these prescription drugs, our prescription
volumes, net revenues, profitability and cash flows may decline.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>The loss of a relationship with one or more Plan Sponsors could negatively impact our business.</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Where we do not have preferred or exclusive arrangements with Plan Sponsors, our contracts for
reimbursement with Plan Sponsors are often on a perpetual or &#147;evergreen&#148; basis. These evergreen
contracts are subject to termination by a Plan Sponsor upon 30, 60 or 90&nbsp;days notice. Depending on
the significance of the Plan Sponsor or Plan Sponsors in the aggregate as a percentage of revenue,
one or more terminations could have a material and adverse effect on our results of operations and
financial performance. We are unaware of any intention by a Plan Sponsor to terminate or not renew
an agreement with us.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Network lock-outs by health insurers could adversely affect our financial results.</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Many Plan Sponsors and PBMs continue to create exclusive specialty networks which limit a member&#146;s
access to a mail service facility or network of preferred pharmacies. To the extent our pharmacies
are excluded from these networks, we are unable to dispense medications to those members and bill
for prescriptions to those members insurance carriers. If these specialty networks continue to
expand and we are locked out from dispensing specialty medications to members of exclusive
networks, our revenues, financial condition and results of operations could be adversely affected.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Cautionary Statement Regarding Forward-Looking Statements</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This prospectus and our documents filed with the Securities and Exchange Commission (the &#147;SEC&#148;) and
incorporated by reference in this prospectus include or may contain certain forward-looking
statements. The words &#147;may,&#148; &#147;will,&#148; &#147;expect,&#148; &#147;anticipate,&#148; &#147;believe,&#148; &#147;continue,&#148; &#147;estimate,&#148;
&#147;project,&#148; &#147;intend,&#148; and similar expressions used in this prospectus are intended to identify
forward-looking statements within the meaning of Section&nbsp;27A of the Securities Act of 1933 and
Section&nbsp;21E of the Securities Exchange Act of 1934 (the &#147;Exchange Act&#148;). You should not place undue
reliance on these forward-looking statements, which speak only as of the date made. We undertake no
obligation to publicly release the result of any revision of these forward-looking statements to
reflect events or circumstances after the date they are made or to reflect the occurrence of
unanticipated events. You should also know that such statements are not guarantees of future
performance and are subject to risks, uncertainties and assumptions. We have included important
factors in the cautionary statements included or incorporated in this prospectus, particularly
under the caption &#147;Risk Factors&#148; below that we believe could cause actual results or events to
differ materially from the forward-looking statements we make. Our forward-looking statements do
not reflect the potential impact of any future acquisitions, mergers, dispositions, joint venture
or investments we may make.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">All subsequent written and oral forward-looking statements concerning the matters addressed in this
prospectus attributable to us or any person acting on our behalf are expressly qualified in their
entirety by the cautionary statements contained or referred to in this prospectus. Except to the
extent required by applicable law or regulation, we undertake no obligation to update these
forward-looking statements to reflect events or circumstances after the date of this prospectus or
to reflect the occurrence of unanticipated events.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>The Selling Stockholders</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The selling stockholders may sell up to 210,339 shares of our common stock pursuant to this
prospectus consisting of 160,339 shares of our restricted common stock issued pursuant to certain
restricted stock awards and 50,000 shares of our common stock underlying stock options issuable
pursuant to certain stock options all of which were issued in reliance on NASDAQ Marketplace
Rule&nbsp;Section&nbsp;4350(i)(iv) as issuances to persons who had not previously been an employee or
director of ours as an inducement material to such persons entering into employment with us. The
following table sets forth certain information known to us concerning each of the selling
stockholders. The shares are being registered to permit the selling stockholders to offer the
shares for resale from time to time. See &#147;Plan of Distribution.&#148;
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="23%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number of</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Shares</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Shares</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Percentage of</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Beneficially</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Shares to be</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Beneficially</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Common Stock</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Owned Prior</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Offered by</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Owned After</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Owned After</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>to the</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Selling</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Completion of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Completion of</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Name of Seller</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Relationship to Company</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Offering(1)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Stockholders</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>the Offering (2)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>the Offering(1)</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">George Breznicki</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Executive Director, Mail Operations</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">16,968</TD>
    <TD nowrap>(3)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,093</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">12,875</TD>
    <TD nowrap>(3)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">James M. Daddio</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sales Director</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">23,500</TD>
    <TD nowrap>(4)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">&#151;&nbsp;&nbsp;</TD>
    <TD nowrap>(4)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Richard T. Goldsby</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director of IT Operations</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">33,575</TD>
    <TD nowrap>(5)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1,575</TD>
    <TD nowrap>(5)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sandra M. Johnson</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sales Director</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">23,500</TD>
    <TD nowrap>(6)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">&#151;&nbsp;&nbsp;</TD>
    <TD nowrap>(6)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Phillip J. Keller</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Vice President, Finance</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">83,545</TD>
    <TD nowrap>(7)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34,966</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">48,579</TD>
    <TD nowrap>(7)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Douglas A. Lee</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Information Officer</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">70,734</TD>
    <TD nowrap>(8)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32,817</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">37,917</TD>
    <TD nowrap>(8)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top">Thomas Ordemann</TD>
    <TD>&nbsp;</TD>
    <TD colspan="1" valign="top" align="left">Vice President, Community Pharmacy<BR>
Operations</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">46,063</TD>
    <TD nowrap>(9)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25,813</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">20,250</TD>
    <TD nowrap>(9)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">Stanley G. Rosenbaum</TD>
    <TD>&nbsp;</TD>
    <TD colspan="1" valign="top" align="left">Executive Vice President and Chief
Financial Officer</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">270,289</TD>
    <TD nowrap>(10)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">33,650</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">236,639</TD>
    <TD nowrap>(10)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">*</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>Less than 1%</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Shares deemed beneficially owned by virtue of the right of an individual to acquire them
within 60&nbsp;days after May&nbsp;1, 2008 upon the exercise of an option to purchase shares of Common
Stock are treated as outstanding for purposes of determining beneficial ownership and the
percentage beneficially owned by such individual.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Assumes all the shares offered hereby are sold to persons who are not affiliates of the
selling stockholders and the selling stockholders sell no other shares they beneficially own.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD>Does not include 29,687 shares subject to the unvested portion of options held by Mr.
Breznicki.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(4)</TD>
    <TD>&nbsp;</TD>
    <TD>Does not include 15,000 shares subject to the unvested portion of options held by Mr.&nbsp;Daddio.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(5)</TD>
    <TD>&nbsp;</TD>
    <TD>Does not include 23,931 shares subject to the unvested portion of options held by Mr.&nbsp;Goldsby.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(6)</TD>
    <TD>&nbsp;</TD>
    <TD>Does not include 15,000 shares subject to the unvested portion of options held by Ms.&nbsp;Johnson.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(7)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes 28,329 shares issuable upon exercise of the vested portion of options held by Mr.
Keller. Does not include 107,282 shares subject to the unvested portion of options held by
Mr.&nbsp;Keller.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(8)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes 26,667 shares issuable upon exercise of the vested portion of options held by Mr.
Lee. Does not include 78,645 shares subject to the unvested portion of options held by Mr.
Lee.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(9)</TD>
    <TD>&nbsp;</TD>
    <TD>Does not include 130,625 shares subject to the unvested portion of options held by Mr.
Ordemann.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(10)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes 56,658 shares issuable upon exercise of the vested portion of options held by Mr.
Rosenbaum. Does not include 183,626 shares subject to the unvested portion of options held by
Mr.&nbsp;Rosenbaum.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->7<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">






<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Use of Proceeds and Plan of Distribution</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We will not receive any of the proceeds from the sale of the common stock by the selling
stockholders pursuant to this prospectus. The aggregate proceeds to the selling stockholders from
the sale of the common stock will be the purchase price of the common stock less any discounts and
commissions. A selling stockholder reserves the right to accept and, together with its agents, to
reject, any proposed purchase of common stock to be made directly or through agents.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The shares covered by this prospectus may be offered and sold from time to time by the selling
stockholders. The term &#147;selling stockholders&#148; includes donees, pledgees, transferees or other
successors-in-interest selling shares received after the date of this prospectus from a selling
stockholder as a gift, pledge, partnership distribution or other non-sale related transfer. The
selling stockholders will act independently of us in making decisions with respect to the timing,
manner and size of each sale. Such sales may be made on one or more exchanges or in the
over-the-counter market or otherwise, at prices and under terms then prevailing or at prices
related to the then current market price or in negotiated transactions. The selling stockholders
may sell their shares by one or more of, or a combination of, the following methods:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>purchases by a broker-dealer as principal and resale by such
broker-dealer for its own account pursuant to this prospectus;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>ordinary brokerage transactions and transactions in which the broker solicits purchasers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>block trades in which the broker-dealer so engaged will attempt to
sell the shares as agent but may position and resell a portion of
the block as principal to facilitate the transaction;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in over-the-counter distribution in accordance with the rules of
the Nasdaq Global Select Market;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in privately negotiated transactions;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in options transactions; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in a combination of such transactions.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, any shares that qualify for sale pursuant to Rule&nbsp;144 may be sold under Rule&nbsp;144
rather than pursuant to this prospectus.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To the extent required, this prospectus may be amended or supplemented from time to time to
describe a specific plan of distribution. In connection with distributions of the shares or
otherwise, the selling stockholders may enter into hedging transactions with broker-dealers or
other financial institutions. In connection with such transactions, broker-dealers or other
financial institutions may engage in short sales of the common stock in the course of hedging the
positions they assume with selling stockholders. The selling stockholders may also sell the common
stock short and redeliver the shares to close out such short positions. The selling stockholders
may also enter into option or other transactions with broker-dealers or other financial
institutions that require the delivery to such broker-dealer or other financial institution of
shares offered by this prospectus, which shares such broker-dealer or other financial institution
may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction).
The selling stockholders may also pledge shares to a broker-dealer or other financial institution,
and, upon a default, such broker-dealer or other financial institution may effect sales of the
pledged shares pursuant to this prospectus (as supplemented or amended to reflect such
transaction).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In effecting sales, broker-dealers or agents engaged by the selling stockholders may arrange for
other broker-dealers to participate. Broker-dealers or agents may receive commissions, discounts or
concessions from the selling stockholders in amounts to be negotiated immediately prior to the
sale.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In offering the shares covered by this prospectus, the selling stockholders and any broker-dealers
who execute sales for the selling stockholders may be deemed to be &#147;underwriters&#148; within the
meaning of the Securities Act in connection with such sales. Any profits realized by the selling
stockholders and the compensation of any broker-dealer may be deemed to be underwriting discounts
and commissions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In order to comply with the securities laws of certain states, if applicable, the shares must be
sold in such jurisdictions only through registered or licensed brokers or dealers. In addition, in
certain states the shares may not be sold unless they have been registered or qualified for sale in
the applicable state or an exemption from the registration or qualification requirement is
available and is complied with.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We have advised the selling stockholders that the anti-manipulation rules of Regulation&nbsp;M under the
Exchange Act may apply to sales of shares in the market and to the activities of the selling
stockholders and their affiliates. In addition, we will make copies of this prospectus available to
the selling stockholders for the purpose of satisfying the prospectus delivery requirements of the
Securities Act. The selling stockholders may indemnify any broker-dealer that participates in
transactions involving the sale of the shares against certain liabilities, including liabilities
arising under the Securities Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">At the time a particular offer of shares is made, if required, a prospectus supplement will be
distributed that will set forth the number of shares being offered and the terms of the offering,
including the name of any underwriter, dealer or agent, the purchase price paid by any underwriter,
any discount, commission and other item constituting compensation, any discount, commission or
concession allowed or reallowed or paid to any dealer, and the proposed selling price to the
public.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Legal Matters</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Barry A. Posner, the Company&#146;s Executive Vice President and General Counsel, has passed upon
certain legal matters in connection with the registration of the common stock offered hereby,
including the validity of the common stock offered hereby. As of the date hereof, Mr.&nbsp;Posner owns
an aggregate of 124,177 shares of Common Stock and options to purchase 431,178 shares of Common
Stock and participates in the 2008 Equity Incentive Plan.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Experts</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The consolidated financial statements of BioScrip Inc. appearing in BioScrip Inc.&#146;s Annual Report
(Form 10-K) for the year ended December&nbsp;31, 2007 (including the schedule appearing therein), and
the effectiveness of BioScrip Inc.&#146;s internal control over financial reporting as of December&nbsp;31,
2007 have been audited by Ernst &#038; Young LLP, independent registered public accounting firm, as set
forth in their reports thereon, included therein, and incorporated herein by reference. Such
consolidated financial statements are incorporated herein by reference in reliance upon such
report given on the authority of such firm as experts in accounting and auditing.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Where You Can Find More Information</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We are subject to the information requirements of the Exchange Act, and in accordance therewith
file reports, proxy statements and other information with the SEC. These reports, proxy statements
and other information can be inspected and copied at the SEC&#146;s Public Reference room at 100 F
Street, N.E., Room&nbsp;1580, Washington, D.C. 20549. The public may obtain information on the operation
of the Public Reference Room by calling the SEC at 1-800-SEC-0330. In addition, the SEC maintains
an Internet site at www.sec.gov that contains reports, proxy and information statements, and other
information regarding issuers that file electronically with the SEC. Endeavour maintains an
Internet site at www.endeavourcorp.com.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We have filed a registration statement with the SEC on Form S-8 under the Securities Act of 1933
(the &#147;Securities Act&#148;) with respect to the shares of common stock offered by the selling
stockholders hereby. This prospectus does not contain all of the information set forth in the
registration statement and the exhibits thereto. You may refer to the registration statement and
the exhibits thereto for more information about our common stock and us. You can obtain
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">a copy of the registration statement from the SEC at the address listed above or from the SEC&#146;s
Internet site. Statements made in this prospectus regarding the contents of any contract or
document filed as an exhibit to the registration statement are not necessarily complete and, in
each instance, reference is herby made to the copy of such contract or document so filed. Each such
statement is qualified in its entirety by such reference.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Incorporation of Certain Documents By Reference</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We are incorporating by reference in this prospectus information we file with the SEC (other than
information furnished pursuant to Item&nbsp;2.02 or Item&nbsp;7.01 (including any financial statements or
exhibits relating thereto furnished pursuant to item 9.01) of any Current Report on Form 8-K),
which means that we are disclosing important information to you by referring you to those
documents. The information we incorporate by reference is an important part of this prospectus, and
later information that we file with the SEC automatically will update and supersede this
information. We incorporate by reference the documents listed below and any future filings we make
with the SEC under Sections&nbsp;13(a), 13(c), 14 or 15(d) of the Exchange Act, excluding any
information in those documents that is deemed by the rules of the SEC to be furnished not filed,
until we close this offering:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Our Annual Report on Form 10-K for the year ended December&nbsp;31, 2007, filed with the SEC on
March&nbsp;7, 2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Our
Quarterly Report on Form 10-Q for the quarter ended March&nbsp;31,
2008, filed with the SEC on May&nbsp;6, 2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Our Current Reports on Form 8-K filed with the SEC on January&nbsp;25, 2008 and March&nbsp;7, 2008;
and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;The description of our common stock contained in our registration statement on Form 8-A/A
dated December&nbsp;4, 2002 and Form 8-A/A dated December&nbsp;14, 2006.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You may request a copy of these filings, which we will provide to you at no cost, by writing
or telephoning us at the following address and telephone number:
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">BioScrip, Inc.<BR>
100 Clearbrook Road<BR>
Elmsford, NY 10523<BR>
(914)&nbsp;460-1600<BR>
Attention: General Counsel
</DIV>



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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "PART II" -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>

</DIV>
<!-- link2 "Item&nbsp;3. Incorporation of Documents by Reference" -->
<DIV align="left"><A NAME="004"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are subject to the informational and reporting requirements of Sections&nbsp;13(a), 14 and
15(d) of the Securities Exchange Act of 1934 (the &#147;Exchange Act&#148;), and in accordance therewith file
reports, proxy statements and other information with the Securities and Exchange Commission (the
&#147;SEC&#148;). The following documents that we heretofore filed with the SEC pursuant to the Exchange Act
are incorporated herein by reference:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Our Annual Report on Form 10-K for the year ended December&nbsp;31, 2007, filed with the SEC on
March&nbsp;7, 2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Our
Quarterly Report on Form 10-Q for the quarter ended March&nbsp;31,
2008, filed with the SEC on May&nbsp;6, 2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Our Current Reports on Form 8-K filed with the SEC on January&nbsp;25, 2008 and March&nbsp;7, 2008;
and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;The description of our common stock contained in our registration statement on Form 8-A/A
dated December&nbsp;4, 2002 and Form 8-A/A dated December&nbsp;14, 2006.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents that we subsequently file with the SEC pursuant to Sections&nbsp;13(a), 13(c), 14 and
15(d) of the Exchange Act, prior to the filing of a post-effective amendment that indicates that
all securities offered hereby have been sold or that deregisters all securities then remaining
unsold, shall be deemed to be incorporated by reference in this registration statement and to be
part hereof from the date of the filing of such documents. Any statement contained in a document
incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or
superseded for the purposes of this registration statement to the extent that a statement contained
herein or in any other subsequently filed document that also is incorporated or deemed to be
incorporated by reference herein modifies or supersedes such statement. Any statement so modified
or superseded shall not be deemed, except as so modified or superseded, to constitute a part of
this registration statement.
</DIV>
<!-- link2 "Item&nbsp;4. Description of Securities" -->
<DIV align="left"><A NAME="005"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;4. Description of Securities.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>
<!-- link2 "Item&nbsp;5. Interests of Named Experts and Counsel" -->
<DIV align="left"><A NAME="006"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5. Interests of Named Experts and Counsel.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Barry A. Posner, the Company&#146;s Executive Vice President and General Counsel, has passed upon
certain legal matters in connection with the registration of the common stock offered hereby,
including the validity of the common stock offered hereby. As of the date hereof, Mr.&nbsp;Posner owns
an aggregate of 124,177 shares of Common Stock and options to purchase 431,178 shares of Common
Stock and participates in the 2008 Equity Incentive Plan.
</DIV>
<!-- link2 "Item&nbsp;6. Indemnification of Directors and Officers" -->
<DIV align="left"><A NAME="007"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Section&nbsp;145 of the Delaware General Corporation Law (&#147;DGCL&#148;) provides that a corporation may
indemnify any person who was or is a party or is threatened to be made a party to any threatened,
pending or completed action, suit or proceeding whether civil, criminal or investigative (other
than an action by or in the right of the corporation) by reason of the fact that he is or was a
director, officer, employee or agent of the corporation, or is or was serving at the request of the
corporation as a director, officer, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise, against expenses (including attorneys&#146; fees), judgments, fines
and amounts paid in settlement actually and reasonably incurred by him in connection with such
action, suit or proceeding if he acted in good faith and in a manner he reasonably believed to be
in or not opposed to the best interests of the corporation, and, with respect to any criminal
action or proceeding, had no reasonable cause to believe his conduct was unlawful. Section&nbsp;145
further provides that a corporation similarly may indemnify any such person serving in any such
capacity who was or is a party or is threatened to be made a party to any threatened,
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">pending or completed action or suit by or in the right of the corporation to procure a judgment in
its favor, against expenses (including attorneys&#146; fees) actually and reasonably incurred in
connection with the defense or settlement of such action or suit if he acted in good faith and in a
manner he reasonably believed to be in or not opposed to the best interests of the corporation and
except that no indemnification shall be made in respect of any claim, issue or matter as to which
such person shall have been adjudged to be liable to the corporation unless and only to the extent
that the Delaware Court of Chancery or such other court in which such action or suit was brought
shall determine upon application that, despite the adjudication of liability but in view of all the
circumstances of the case, such person is fairly and reasonably entitled to indemnify for such
expenses which the Delaware Court of Chancery or such other court shall deem proper.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;102(b)(7) of the DGCL permits a corporation, in its certificate of incorporation, to
limit or eliminate, subject to some statutory limitations, the liability of directors to the
corporation or its stockholders for monetary damages for breaches of fiduciary duty, except for
liability (a)&nbsp;for any breach of the director&#146;s duty of loyalty to the corporation or its
stockholders, (b)&nbsp;for acts or omissions not in good faith or which involve intentional misconduct
or a knowing violation of law, (c)&nbsp;under Section&nbsp;174 of the DGCL (relating to unlawful payment of
dividends and unlawful stock purchase and redemption), or (d)&nbsp;for any transaction from which the
director derived an improper personal benefit. Our Second Amended and Restated Certificate of
Incorporation provides that our directors shall not be liable to the company or its stockholders
for breach of fiduciary duty as a director, except for liability arising out of clauses (a)&nbsp;through
(d)&nbsp;in the preceding paragraph. The Second Amended and Restated Certificate of Incorporation and
our Amended and Restated By-Laws further provide that we shall indemnify our directors and officers
to the fullest extent permitted by the DGCL.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, we maintain director and officer liability insurance policies. under which the
directors and officers of the Company are insured, within the limits and subject to the limitations
of the policies, against certain expenses in connection with the defense of actions, suits or
proceedings, and certain liabilities which might be imposed as a result of such actions, suits or
proceedings, to which they are parties by reason of being or having been directors or officers,
which could include liabilities under the Securities Act or the Exchange Act.
</DIV>
<!-- link2 "Item&nbsp;7. Exemption from Registration Claimed" -->
<DIV align="left"><A NAME="008"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7. Exemption from Registration Claimed.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>
<!-- link2 "Item&nbsp;8. Exhibits" -->
<DIV align="left"><A NAME="009"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8. Exhibits.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following exhibits are filed as part of this registration statement:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Exhibit</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 6pt">
    <TD align="center" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Second Amended and Restated Certificate of Incorporation (incorporated by
reference to Exhibit&nbsp;4.1 to the Company&#146;s Current Report on Form&nbsp;8-K filed on
March&nbsp;17, 2005, SEC Accession No.&nbsp;0000950123-05-003294).</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Amended and Restated Bylaws (incorporated by reference to Exhibit&nbsp;3.1 to the
Company&#146;s Current Report on Form&nbsp;8-K filed on May&nbsp;16, 2007, SEC Accession
no. 0000950123-07-007569).</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.3</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Amended and Restated Rights Agreement, dated as of December&nbsp;3, 2002 between
the Company and American Stock Transfer and Trust Company (incorporated by
reference to Exhibit&nbsp;4.2 to the Post-Effective Amendment No.&nbsp;3 to the
Company&#146;s form 8-A/A dated December&nbsp;4, 2002).</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.6</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">First Amendment, dated December&nbsp;13, 2006, to the Amended and Restated Rights
Agreement, dated as of December&nbsp;3, 2002 (the &#147;Rights Agreement&#148;), between the
Company and American Stock Transfer &#038; Trust Company, as Rights Agent
(incorporated by reference to Exhibit&nbsp;4.3 to the Company&#146;s Current Report on
Form&nbsp;8-K filed on December&nbsp;14, 2006, SEC Accession No.&nbsp;0000950123-06-0155184).</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Opinion of Barry A. Posner</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->II-2<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Exhibit</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 6pt">
    <TD align="center" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Ernst &#038; Young LLP</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Barry A. Posner (included in Exhibit&nbsp;5.1)</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">24.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Power of Attorney (included on the signature page)</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">BioScrip, Inc. 2008 Equity Incentive Plan</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Form of Stock Option Agreement under the 2008 Equity Incentive Plan</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.3</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Form of Restricted Stock Grant Certificate under the 2008 Equity Incentive Plan</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<!-- link2 "Item&nbsp;9. Undertakings" -->
<DIV align="left"><A NAME="010"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9. Undertakings.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(a)&nbsp;The undersigned registrant hereby undertakes:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;to file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;to include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act of 1933 (the
&#147;Securities Act&#148;);
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;to reflect in the prospectus any facts or events arising after the effective date of the
registration statement (or the most recent post-effective amendment thereof) which, individually or
in the aggregate, represent a fundamental change in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that which was registered) and
any deviation from the low or high end of the estimated maximum offering range may be reflected in
the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes
in volume and price represent no more than a 20% change in the maximum aggregate offering price set
forth in the &#147;Calculation of Registration Fee&#148; table in the effective registration statement; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;to include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to such information in
the registration statement; <I>provided</I>, <I>however</I>, that paragraphs (a)(1)(i) and (a)(1)(ii) of this
section do not apply if the registration statement is on Form S-8 and the information required to
be included in a post-effective amendment by those paragraphs is contained in reports filed with or
furnished to the Commission by the registrant pursuant to Section&nbsp;13 or Section 15(d) of the
Exchange Act that are incorporated by reference in the registration statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;that, for the purpose of determining any liability under the Securities Act, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial <I>bona fide </I>offering thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;to remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(b)&nbsp;The registrant hereby undertakes that, for the purpose of determining any liability under the
Securities Act, each filing of the registrant&#146;s annual report pursuant to Section 13(a) or
Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&#146;s
annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in
the registration statement shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial <I>bona fide </I>offering thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(c)&nbsp;Insofar as indemnification for liabilities arising under the Securities Act may be permitted to
directors, officers and controlling persons of the registrant pursuant to the foregoing provisions,
or otherwise, the registrant has been advised that in the opinion of the SEC such indemnification
is against public policy as expressed in the
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->II-3<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the registrant of expenses incurred or paid by
a director, officer or controlling person of the registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in the opinion of its
counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed
in the Securities Act and will be governed by the final adjudication of such issue.
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->II-4<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="011"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act, the registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has
duly caused this registration statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in Elmsford, New York, on the 16<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> day of May, 2008.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>BIOSCRIP, INC.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Barry A. Posner
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Barry A. Posner,&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Executive Vice President and General Counsel&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes
and appoints Richard H. Friedman and Barry A. Posner, and each of them acting individually, as his
true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution,
for him and in his name, place and stead, in any and all capacities, to sign any and all amendments
to this Registration Statement, and to file the same, with all exhibits thereto, and other
documents in connection therewith, with the Securities and Exchange Commission, granting unto said
attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and
every act and thing required or necessary to be done in and about the premises, as fully to all
intents and purposes as he might or could do in person, hereby ratifying and confirming all that
each of said attorneys-in-fact and agents, or any of them, or their or his substitute, may lawfully
do or cause to be done by virtue hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed below by the following persons in the capacities indicated on the 16<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> day
of May&nbsp;2008.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Richard H. Friedman
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman of the Board and</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Richard H. Friedman
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;Chief
Executive Officer (Principal
Executive Officer)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Stanley G. Rosenbaum
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(Principal Financial Officer and</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Stanley G. Rosenbaum
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;Principal
Accounting Officer)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Patricia A. Bogusz
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Controller</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Patricia A. Bogusz
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Charlotte W. Collins
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Charlotte W. Collins
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Louis T. DiFazio
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Louis T. DiFazio
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Myron Z. Holubiak
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Myron Z. Holubiak
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
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<DIV style="font-family: 'Times New Roman',Times,serif">

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<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
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<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ David R. Hubers
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
David R. Hubers
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Richard L. Robbins
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Richard L. Robbins
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Stuart A. Samuels
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Stuart A. Samuels
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="border-bottom: 1px solid #000000">/s/ Steven K. Schelhammer
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Steven K. Schelhammer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
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<DIV style="font-family: 'Times New Roman',Times,serif">

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<DIV align="left"><A NAME="012"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Exhibit</B></TD>
</TR>

<!-- End Table Head -->
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    <TD align="center" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Second Amended and Restated Certificate of Incorporation (incorporated by
reference to Exhibit&nbsp;4.1 to the Company&#146;s Current Report on Form&nbsp;8-K filed on
March&nbsp;17, 2005, SEC Accession No.&nbsp;0000950123-05-003294).</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Amended and Restated Bylaws (incorporated by reference to Exhibit&nbsp;3.1 to the
Company&#146;s Current Report on Form&nbsp;8-K filed on May&nbsp;16, 2007, SEC Accession
no. 0000950123-07-007569).</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.3</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Amended and Restated Rights Agreement, dated as of December&nbsp;3, 2002 between
the Company and American Stock Transfer and Trust Company (incorporated by
reference to Exhibit&nbsp;4.2 to the Post-Effective Amendment No.&nbsp;3 to the
Company&#146;s form 8-A/A dated December&nbsp;4, 2002).</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.6</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">First Amendment, dated December&nbsp;13, 2006, to the Amended and Restated Rights
Agreement, dated as of December&nbsp;3, 2002 (the &#147;Rights Agreement&#148;), between the
Company and American Stock Transfer &#038; Trust Company, as Rights Agent
(incorporated by reference to Exhibit&nbsp;4.3 to the Company&#146;s Current Report on
Form&nbsp;8-K filed on December&nbsp;14, 2006, SEC Accession No.&nbsp;0000950123-06-0155184).</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Opinion of Barry A. Posner</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Ernst &#038; Young LLP</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Barry A. Posner (included in Exhibit&nbsp;5.1)</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">24.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Power of Attorney (included on the signature page)</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">BioScrip, Inc. 2008 Equity Incentive Plan</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Form of Stock Option Agreement under the 2008 Equity Incentive Plan</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.3</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Form of Restricted Stock Grant Certificate under the 2008 Equity Incentive Plan</DIV></TD>
</TR>
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<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
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</HTML>
[{"type": "S-8", "sequence": "1", "filename": "y58638sv8.htm", "description": "FORM S-8", "secsgml_size_bytes": 138935}]
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S-8
Table of Contents
As filed with the Securities and Exchange Commission on May 16, 2008
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
BIOSCRIP, INC.
(Exact Name of Registrant as Specified in its Charter)
Delaware
(State or Other Jurisdiction of
Incorporation or Organization)
05-0489664
(I.R.S. Employer Identification No.)
100 Clearbrook Road
Elmsford, NY 10523
(Address of Principal Executive Offices)
10523
(Zip
Code)
Restricted Stock Grant Agreements
Stock Option Agreements
BioScrip, Inc. 2008 Equity Incentive Plan
(Full Title of the Plan)
Barry A. Posner
General Counsel
BioScrip, Inc.
100 Clearbrook Road
Elmsford, NY 10523
(Name and Address of Agent for Service)
(914) 460-1600
(Telephone Number, Including Area Code, of Agent for Service)
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated
filer," "accelerated filer" and "smaller
reporting company" in Rule 12b-2 of the Exchange Act.
(Check one):
Large accelerated filer
o
Accelerated filer
þ
Non-accelerated filer
o
Smaller reporting company
o
(Do not check if a smaller reporting company)
CALCULATION OF REGISTRATION FEE
Proposed
Proposed
Maximum
Maximum
Title of Securities
Amount to be
Offering
Aggregate
Amount of
to be Registered
Registered (1)(2)
Price Per Share (3)
Offering Price (3)
Registration Fee (3)
Common Stock, par
value $0.0001 per
share
3,370,000
$
3.95
$
13,311,500
$
523.14
Common Stock, par
value $0.0001 per
share
210,339
(4)
$
3.95
$
830,840
$
32.65
Total
$
555.79
(1)
Pursuant to Rule 416 under the Securities Act of 1933, as amended (the "Securities Act"),
this registration statement also covers an indeterminate number of additional shares of common
stock issuable with respect to the shares being registered hereunder by reason of any stock
dividend, stock split, recapitalization or other similar transaction effected without the
receipt of consideration that increases the number of the registrant's outstanding shares of
common stock.
(2)
Includes the associated Series A Junior Participating Preferred Stock purchase rights.
(3)
Estimated pursuant to Rule 457(h) under the Securities Act for the purpose of determining
the registration fee, based upon the average of the high and low prices on May 14, 2008.
(4)
Represents 160,339 shares of restricted common stock issued pursuant to certain restricted
stock awards and 50,000 shares of common stock issuable upon the exercise of certain stock
options, all of which were issued as an inducement material to such persons entering into
employment with the registrant.
TABLE OF CONTENTS
PART I
Item 1. Plan Information
Item 2. Registrant Information and Employee Plan Annual Information
PART II
Item 3. Incorporation of Documents by Reference
Item 4. Description of Securities
Item 5. Interests of Named Experts and Counsel
Item 6. Indemnification of Directors and Officers
Item 7. Exemption from Registration Claimed
Item 8. Exhibits
Item 9. Undertakings
SIGNATURES
EXHIBIT INDEX
EX-5.1: OPINION OF BARRY A. POSNER
EX-23.1: CONSENT OF ERNST & YOUNG LLP
EX-99.1: 2008 EQUITY INCENTIVE PLAN
EX-99.2: FORM OF STOCK OPTION AGREEMENT
EX-99.3: FORM OF RESTRICTED STOCK GRANT CERTIFICATE
Table of Contents
EXPLANATORY NOTE
This Registration Statement contains two parts. The first part contains a resale prospectus
prepared in accordance with General Instruction C of Form S-8 and in accordance with the
requirements of Part I of Form S-3, which covers reoffers and resales of "restricted securities"
and/or "control securities" upon the vesting of restricted stock grants and the exercise of stock
options granted by the registrant to employees outside of the registrants' stock option plans. The
second part of this Registration Statement contains information required in the Registration
Statement pursuant to Part II of Form S-8.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Item 1. Plan Information
In accordance with Rule 428 under the Securities Act of 1933, as amended (the "Securities Act"),
and the instructional note to Part I of Form S-8, the information specified in Part I of Form S-8
has been omitted from the filing of this registration statement. The documents containing the
information specified in Part I of Form S-8 will be sent or given to participating employees as
specified by Rule 428(b)(1) of the Securities Act. Such documents and the documents incorporated by
reference in this registration statement pursuant to Item 3 of Part II of this registration
statement, taken together, constitute a prospectus that meets the requirements of Section 10(a) of
the Securities Act.
Item 2. Registrant Information and Employee Plan Annual Information
Upon written or oral request by a participant in the 2008 Equity Incentive Plan, the Registrant
will provide any of the documents incorporated by reference into the Section 10(a) prospectus,
which documents are incorporated by reference into the Section 10(a) prospectus, and any document
required to be delivered to the participants pursuant to Rule 428(b), in each case without charge,
by contacting:
BioScrip, Inc.
100 Clearbrook Road
Elmsford, NY 10523
Attention: General Counsel
(914) 460-1600
Table of Contents
Resale Prospectus
210,339 shares of Common Stock
BioScrip, Inc.
This prospectus relates to the offer and sale from time to time of up to 210,339 shares (the
"Shares") of our common stock by the selling stockholders named in this prospectus. The Shares
include 160,339 shares of our restricted common stock issued pursuant to certain restricted stock
award agreements and 50,000 shares of our common stock underlying stock options issuable pursuant
to certain stock option agreements. The selling stockholders may offer the shares from time to
time through public or private transactions at prevailing market prices, at prices related to
prevailing market prices or at other negotiated prices. A selling stockholder may sell none, some
or all of the shares offered by this prospectus. We cannot predict when or in what amounts a
selling stockholder may sell any of the shares offered by this prospectus. We will not receive any
of the proceeds from the sale of shares by the selling stockholders.
All costs, expenses and fees in connection with the registration of the Shares will be borne by us.
Brokerage commissions and other selling expenses, if any, will be borne by the selling
stockholders. See "Use of Proceeds and Plan of Distribution."
Our common stock is traded on the Nasdaq Global Market under the symbol "BIOS." On May 12, 2008,
the closing price for our common stock was $3.79 per share.
INVESTING IN OUR COMMON STOCK INVOLVES SIGNIFICANT RISKS THAT ARE DESCRIBED IN THE "RISK FACTORS"
SECTION BEGINNING ON PAGE 2 OF THIS PROSPECTUS.
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR
DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THIS PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY
REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
The date of this prospectus is May 16, 2008.
Table of Contents
Table of Contents
The Company
1
Risk Factors
2
Cautionary Statement Regarding Forward-Looking Statements
6
The Selling Stockholders
7
Use of Proceeds and Plan of Distribution
8
Legal Matters
9
Experts
9
Where You Can Find More Information
9
Incorporation of Certain Documents By Reference
10
Preliminary Note
You should rely only on the information contained in this prospectus. We have not authorized anyone
to provide you with information that is different. The selling stockholders are offering to sell
and seeking offers to buy shares of our common stock only in jurisdictions where offers and sales
are permitted. The information contained in this prospectus is accurate only as of the date of this
prospectus, regardless of the time of delivery of this prospectus or of any sale of our common
stock.
Table of Contents
The Company
We are a specialty pharmaceutical healthcare organization that partners with patients, physicians,
healthcare payors and pharmaceutical manufacturers to provide access to medications and management
solutions to optimize outcomes for chronic and other complex healthcare conditions.
Our specialty pharmaceutical services ("Specialty Services") include the comprehensive support,
dispensing and distribution, patient care management, data reporting as well as a range of other
complex management services for certain medications. These medications include orals, injectables
and infusibles used to treat patients living with chronic health conditions and are provided in
various capacities to patients, physicians, healthcare payors and pharmaceutical manufacturers. Our
pharmacy benefit management ("PBM") services include pharmacy network management, claims
processing, benefit design, drug utilization review, formulary management and traditional mail
order pharmacy fulfillment. These services are reported under two operating segments: (i) Specialty
Services; and (ii) PBM and Mail Services (collectively, "PBM Services").
Specialty Services and PBM Services revenues are derived from our relationships with healthcare
payors including managed care organizations, government-funded and/or operated programs,
pharmaceutical manufacturers, patients and physicians as well as a variety of third party payors,
including third party administrators ("TPAs") and self-funded employer groups (collectively "Plan
Sponsors").
Our Specialty Services are marketed and/or sold primarily to healthcare payors, pharmaceutical
manufacturers, physicians, and patients, and target certain specialty medications that are used to
treat patients living with chronic health conditions. These services include the distribution of
biotech and other high cost injectable, oral and infusible prescription medications and the
provision of therapy management services.
Our PBM Services are marketed to healthcare payors including employer groups and TPAs and are
designed to promote a broad range of cost-effective, clinically appropriate pharmacy benefit
management services through our national PBM retail network and our own mail service distribution
facility. We also administer prescription discount card programs on behalf of commercial Plan
Sponsors, most typically TPAs. Under such programs we derive revenue on a per claim basis from the
dispensing network pharmacy.
Over the past several years our strategic growth has been focused on building our Specialty
Services. Consequently, Specialty Services revenues have grown to more than 80% of our total
revenue.
Our principal executive offices are located at 100 Clearbrook Road, Elmsford, NY 10523, and our
telephone number is (914) 460-1600. Our website is
www.bioscrip.com
. The information on our website
is not part of this prospectus.
1
Table of Contents
Risk Factors
An investment in our common stock involves a high degree of risk. You should consider carefully the
risks and uncertainties described below and the other information in this prospectus, including our
financial statements and related notes, before deciding to invest in our common stock. If any of
the following risks or uncertainties actually occurs, our business, financial condition and
operating results would likely suffer. Additional risks and uncertainties not currently known to us
or those we currently view to be immaterial may also materially adversely affect our business,
financial condition or results of operations. In that event(s), the market price of the offered
securities could decline and you could lose all or part of the money you paid to buy our common
stock.
Competition in the pharmaceutical healthcare services industry could reduce profit margins.
The pharmaceutical healthcare services industry is very competitive. Our competitors include large
and well-established companies that may have greater financial, marketing and technological
resources than we do.
The specialty pharmacy industry is highly competitive. Some of our competitors are under common
control with, or ownership by, pharmaceutical wholesalers and distributors, pharmacy benefit
managers or retail pharmacy chains and may be better positioned with respect to the cost-effective
distribution of pharmaceuticals. In addition, some of our competitors may have secured long-term
supply or distribution arrangements for prescription pharmaceuticals necessary to treat certain
chronic disease states on price terms substantially more favorable than the terms currently
available to us. As a result of such advantageous pricing, we may be less price competitive than
some of these competitors with respect to certain pharmaceutical products. Our competitive position
could also be adversely affected by any inability to obtain access to new biotech pharmaceutical
products.
Over the last several years competition in the marketplace has caused many PBMs, including us, to
reduce the prices charged to clients for core services and share a larger portion of the formulary
fees and rebates received from pharmaceutical manufacturers with clients. This combination of lower
pricing and increased rebate sharing, as well as increased demand for enhanced service offerings
and higher service levels, have put pressure on operating margins. In addition, some of our larger
competitors may offer services and pricing terms that we may not be able to offer. This competition
may make it more difficult to maintain existing customers and attract new customers and may cause
us to face the risk of declining reimbursement levels without achieving corresponding reductions in
costs of revenues. Competition may also come from other sources in the future. As a result, we may
not continue to remain competitive in the PBM marketplace, and competition could have an adverse
effect on our business and financial results.
Changes in industry pricing benchmarks could adversely affect our financial performance.
Contracts in the prescription drug industry, including our contracts with our retail pharmacy
networks and our PBM and specialty pharmacy clients, generally use certain published benchmarks to
establish pricing for prescription medications. These benchmarks include Average Wholesale Price
("AWP"), wholesale acquisition cost and average manufacturer price. Most of our commercial
contracts utilize the AWP benchmark.
In 2006, First DataBank, a leading provider of electronic drug information to the healthcare
industry, entered into a proposed settlement to address certain practices regarding the
establishment of the benchmark AWP for medications. While the court recently denied without
prejudice final approval of the proposed settlement, if the proposed settlement, or one including
similar provisions, is ultimately approved, it may have industry-wide impact on prescription
pricing. We generally utilize Medi-Span for determining AWP; in 2007, Medi-Span entered into a
proposed settlement agreement similar to that agreed to by First DataBank. We are paid by many
Health Plans and PBMs as a mail order and specialty pharmacy using AWP as reported by First
DataBank. Most of our provider and payor agreements contain provisions that allow us to manage the
impact of this proposed settlement if ratified as is or modified by the parties or the court. At
this time we are unable to determine whether changes to AWP pricing methodology or the First
DataBank and Medi-Span AWP settlements would have a material adverse effect on us or our financial
condition or prospects.
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Most of our provider and payor agreements contain provisions that allow us to manage the impact of
this proposed settlement, if ratified as is or modified by the parties or the court. However, we
can give no assurance that the short or long-term impact of changes to industry pricing benchmarks
will not have a material adverse effect on our financial performance, results of operations and
financial condition in future periods.
Client demands for enhanced service levels or possible loss or unfavorable modification of
contracts with clients or providers could pressure margins.
As our clients face the continued rapid growth in prescription drug costs, they may demand
additional services and enhanced service levels to help mitigate the increase in spending. We
operate in a very competitive environment, and we may not be able to increase our fees to
compensate for these increased services, which could put pressure on our margins.
Our contracts with clients generally do not have terms longer than three years and, in some cases,
may be terminated by the client on relatively short notice. Our clients generally seek bids from
other PBM or specialty providers in advance of the expiration of their contracts. If several of
these clients elect not to extend their relationship with us, and we are not successful in
generating sales to replace the lost business, our future business and operating results could be
materially adversely affected. In addition, we believe the managed care industry is undergoing
substantial consolidation, and another party that is not our client could acquire some of our
managed care clients. In such case, the likelihood such client would renew its contract with us
could be reduced.
More than 58,000 retail pharmacies, which represent more than 98% of all United States retail
pharmacies, participate in our PBM pharmacy network. The top ten retail pharmacy chains represent
approximately 48% of the total number of stores and over 60% of prescriptions filled in our
network. Our contracts with retail pharmacies, which are non-exclusive, are generally terminable on
relatively short notice. If one or more of the top pharmacy chains elects to terminate its
relationship with us, our members' access to retail pharmacies and our business could be materially
adversely affected. In addition, many large pharmacy chains either own PBMs today, or could attempt
to acquire a PBM in the future. Ownership of PBMs by retail pharmacy chains could have material
adverse effects on our relationships with such pharmacy chains and on our consolidated results of
operations, consolidated financial position and/or consolidated cash flow from operations.
Pending and future litigation could subject us to significant monetary damages and/or require us to
change our business practices.
We are subject to risks relating to litigation and other proceedings in connection with our
operations, including the dispensing of pharmaceutical products by our mail service and community
pharmacies. A list of the more material proceedings pending against us is included under Part I,
Item 3, "Legal Proceedings" to the Annual Report on Form 10-K for the year ended December 31, 2007,
incorporated by reference herein. While we believe that these suits are without merit and intend
to contest them vigorously, we can give no assurance that an adverse outcome in one or more of
these suits would not have a material adverse effect on our consolidated results of operations,
consolidated financial position and/or consolidated cash flow from operations, or would not require
us to make material changes to our business practices. We are presently responding to several
subpoenas and requests for information from governmental agencies. We confirmed that BioScrip is
not a target or a potential subject of those investigations and requests. We cannot predict with
certainty what the outcome of any of the foregoing might be. In addition to potential monetary
liability arising from these suits and proceedings, we are incurring costs in the defense of the
suits and in providing documents to government agencies. Certain of the costs are covered by our
insurance, but certain other costs are not insured. Such costs have become material to our
financial performances and we can give no assurance that such costs will not increase in the
future.
We may be subject to liability claims for damages and other expenses that are not covered by
insurance.
A successful product or professional liability claim in excess of our insurance coverage could harm
our financial condition and results of operations. Various aspects of our business may subject us
to litigation and liability for damages, including the performance of PBM Services and the
operation of our pharmacies. A successful professional liability claim in excess of our insurance
coverage could harm our financial condition and results of operations. For example, a prescription
drug dispensing error could result in a patient receiving the wrong or
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incorrect amount of medication, leading to personal injury or death. Our business, financial
condition and results of operations could suffer if we pay damages or defense costs in connection
with a claim that is outside the scope of any applicable contractual indemnity or insurance
coverage.
Existing and new government legislative and regulatory action could adversely affect our business
and financial results.
As a participant in the pharmaceutical healthcare services industry, our operations are subject to
complex and evolving Federal and state laws and regulations and enforcement by Federal and state
governmental agencies. These laws and regulations are described in detail at Part I, Item 1,
"Business — Government Regulation" of our Annual Report on Form 10-K for the year ended December
31, 2007, incorporated by reference herein. While we believe we are operating our business in
substantial compliance with all existing legal requirements material to the operation of our
business, different interpretations and enforcement policies of these laws and regulations could
subject our current practices to allegations of impropriety or illegality, or could require us to
make significant changes to our operations. In addition, if we fail to comply with existing or
future applicable laws and regulations, we could suffer civil or criminal penalties, including our
ability to participate in Federal and state healthcare programs. In addition, we cannot predict the
impact of future legislation and regulatory changes on our business or assure that we will be able
to obtain or maintain the regulatory approvals required to operate our business.
In addition, under the Deficit Reduction Act of 2006, additional Federal government matching of
state Medicaid funding was provided for states that commit resources to additional auditing of
Medicaid and Medicare fraud. This initiative has led to increased auditing activities by state
healthcare regulators. As such, we have been the subject of increased audits by these state
regulators. While we believe that we are in compliance with Medicaid and Medicare billing rules and
requirements, there can be no assurance that regulators disagree with the methodology employed by
us in billing for our products and services. While we believe that we are in material and
substantial compliance with the billing rules and requirements of Medicaid and Medicare, a material
disagreement between us and these governmental agencies on the manner in which we provide products
or services could have a material adverse effect on our business, operations, financial position
and results of operations.
Loss of relationships with one or more pharmaceutical manufacturers and changes in payments made by
pharmaceutical manufacturers could adversely affect our business and financial results.
We have contractual relationships with pharmaceutical manufacturers that provide discounts on drugs
dispensed from our mail service and community pharmacies, and pay service fees for other programs
and services that we provide. Our business and financial results could be adversely affected if:
(i) we were to lose relationships with one or more key pharmaceutical manufacturers; (ii) discounts
decline due to changes in utilization of specified pharmaceutical products by health Plan Sponsors
and other clients; (iii) legal restrictions are imposed on the ability of pharmaceutical
manufacturers to offer rebates, administrative fees or other discounts or to purchase our programs
or services; or (iv) pharmaceutical manufacturers choose not to offer rebates, administrative fees
or other discounts or to purchase our programs or services.
Failure to develop new products, services and delivery channels may adversely affect our business.
We operate in a highly competitive environment. We develop new products and services from time to
time to assist our clients in managing the pharmacy benefit. If we are unsuccessful in developing
innovative products and services, our ability to attract new clients and retain existing clients
may suffer.
Technology is also an important component of our business, as we continue to utilize new and better
channels to communicate and interact with our clients, members and business partners. If our
competitors are more successful than us in employing this technology, our ability to attract new
clients, retain existing clients and operate efficiently may suffer.
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The success of our business depends on maintaining a well-secured business and technology
infrastructure.
We are dependent on our infrastructure, including our information systems, for many aspects of our
business operations. A fundamental requirement for our business is the secure storage and
transmission of personal health information and other confidential data. Our business and
operations may be harmed if we do not maintain our business processes and information systems, and
the integrity of our confidential information. Although we have developed systems and processes
that are designed to protect information against security breaches, failure to protect such
information or mitigate any such breaches may adversely affect our operating results. Malfunctions
in our business processes, breaches of our information systems or the failure to maintain effective
and up-to-date information systems could disrupt our business operations, result in customer and
member disputes, damage our reputation, expose us to risk of loss or litigation, result in
regulatory violations, increase administrative expenses or lead to other adverse consequences.
The use of personal health information in our business is regulated at Federal, state and local
levels. These laws and rules change frequently and developments often require adjustments or
modifications to our technology infrastructure. Noncompliance with these regulations could harm our
business, financial condition and results of operations.
Problems in the implementation and conversion of our new pharmacy system could result in additional
expense.
The Company has committed significant resources in a new pharmacy dispensing, clinical management
and accounts receivable management system designed to streamline our business processes, provide
improved data reporting, data management, scalability and cash posting and billing and collections.
Delays in the implementation of this system could result in higher operating costs, additional
charges for system design changes or delays in the execution of our strategic plan due to our
inability to scale our current operating systems.
Our failure to maintain controls and processes over billing and collecting could have a significant
negative impact on our results of operations and financial condition.
The collection of accounts receivable is a significant challenge and requires constant focus and
involvement by management and ongoing enhancements to information systems and billing center
operating procedures. If we are unable to properly bill and collect our accounts receivable, our
results could be materially and adversely affected. While management believes that controls and
processes are satisfactory there can be no assurance that accounts receivable collectibility will
remain at current levels.
Efforts to reduce healthcare costs and alter health care financing practices could adversely affect
our business.
During the past several years, the U.S. healthcare industry has been subject to an increase in
governmental regulation at both the Federal and state levels. Certain proposals have been made at
the Federal and state government levels in an effort to control healthcare costs, including
lowering reimbursement and/or proposing to lower reimbursement under Medicaid and Medicare
programs. These proposals include "single payor" government funded healthcare and price controls on
prescription drugs. If these or similar efforts are successful our business and operations could be
materially adversely affected. In addition, changing political, economic and regulatory influences
may affect healthcare financing and reimbursement practices. If the current healthcare financing
and reimbursement system changes significantly, our business could be materially adversely
affected. Congress periodically considers proposals to reform the U.S. healthcare system. These
proposals may increase government involvement in healthcare and regulation of PBM services, or
otherwise change the way our clients do business. Health Plan Sponsors may react to these proposals
and the uncertainty surrounding them by reducing or delaying purchases of cost control mechanisms
and related services that we provide. We cannot predict what effect, if any, these proposals may
have on our business. Other legislative or market-driven changes in the healthcare system that we
cannot anticipate could also materially adversely affect our consolidated results of operations,
consolidated financial position and/or consolidated cash flow from operations.
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Prescription volumes may decline, and our net revenues and profitability may be negatively
impacted, when products are withdrawn from the market or when increased safety risk profiles of
specific drugs result in utilization decreases.
We process significant volumes of pharmacy claims for brand-name and generic drugs from our mail
service and community pharmacies and through our network of retail pharmacies. These volumes are
the basis for our net revenues and profitability. When products are withdrawn by manufacturers, or
when increased safety risk profiles of specific drugs or classes of drugs result in utilization
decreases, physicians may cease writing or reduce the numbers of prescriptions written for these
drugs. Additionally, negative media reports regarding drugs with higher safety risk profiles may
result in reduced consumer demand for such drugs. In cases where there are no acceptable
prescription drug equivalents or alternatives for these prescription drugs, our prescription
volumes, net revenues, profitability and cash flows may decline.
The loss of a relationship with one or more Plan Sponsors could negatively impact our business.
Where we do not have preferred or exclusive arrangements with Plan Sponsors, our contracts for
reimbursement with Plan Sponsors are often on a perpetual or "evergreen" basis. These evergreen
contracts are subject to termination by a Plan Sponsor upon 30, 60 or 90 days notice. Depending on
the significance of the Plan Sponsor or Plan Sponsors in the aggregate as a percentage of revenue,
one or more terminations could have a material and adverse effect on our results of operations and
financial performance. We are unaware of any intention by a Plan Sponsor to terminate or not renew
an agreement with us.
Network lock-outs by health insurers could adversely affect our financial results.
Many Plan Sponsors and PBMs continue to create exclusive specialty networks which limit a member's
access to a mail service facility or network of preferred pharmacies. To the extent our pharmacies
are excluded from these networks, we are unable to dispense medications to those members and bill
for prescriptions to those members insurance carriers. If these specialty networks continue to
expand and we are locked out from dispensing specialty medications to members of exclusive
networks, our revenues, financial condition and results of operations could be adversely affected.
Cautionary Statement Regarding Forward-Looking Statements
This prospectus and our documents filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference in this prospectus include or may contain certain forward-looking
statements. The words "may," "will," "expect," "anticipate," "believe," "continue," "estimate,"
"project," "intend," and similar expressions used in this prospectus are intended to identify
forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"). You should not place undue
reliance on these forward-looking statements, which speak only as of the date made. We undertake no
obligation to publicly release the result of any revision of these forward-looking statements to
reflect events or circumstances after the date they are made or to reflect the occurrence of
unanticipated events. You should also know that such statements are not guarantees of future
performance and are subject to risks, uncertainties and assumptions. We have included important
factors in the cautionary statements included or incorporated in this prospectus, particularly
under the caption "Risk Factors" below that we believe could cause actual results or events to
differ materially from the forward-looking statements we make. Our forward-looking statements do
not reflect the potential impact of any future acquisitions, mergers, dispositions, joint venture
or investments we may make.
All subsequent written and oral forward-looking statements concerning the matters addressed in this
prospectus attributable to us or any person acting on our behalf are expressly qualified in their
entirety by the cautionary statements contained or referred to in this prospectus. Except to the
extent required by applicable law or regulation, we undertake no obligation to update these
forward-looking statements to reflect events or circumstances after the date of this prospectus or
to reflect the occurrence of unanticipated events.
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The Selling Stockholders
The selling stockholders may sell up to 210,339 shares of our common stock pursuant to this
prospectus consisting of 160,339 shares of our restricted common stock issued pursuant to certain
restricted stock awards and 50,000 shares of our common stock underlying stock options issuable
pursuant to certain stock options all of which were issued in reliance on NASDAQ Marketplace
Rule Section 4350(i)(iv) as issuances to persons who had not previously been an employee or
director of ours as an inducement material to such persons entering into employment with us. The
following table sets forth certain information known to us concerning each of the selling
stockholders. The shares are being registered to permit the selling stockholders to offer the
shares for resale from time to time. See "Plan of Distribution."
Number of
Number of
Shares
Number of
Shares
Percentage of
Beneficially
Shares to be
Beneficially
Common Stock
Owned Prior
Offered by
Owned After
Owned After
to the
Selling
Completion of
Completion of
Name of Seller
Relationship to Company
Offering(1)
Stockholders
the Offering (2)
the Offering(1)
George Breznicki
Executive Director, Mail Operations
16,968
(3)
4,093
12,875
(3)
*
James M. Daddio
Sales Director
23,500
(4)
23,500
—
(4)
*
Richard T. Goldsby
Director of IT Operations
33,575
(5)
32,000
1,575
(5)
*
Sandra M. Johnson
Sales Director
23,500
(6)
23,500
—
(6)
*
Phillip J. Keller
Vice President, Finance
83,545
(7)
34,966
48,579
(7)
*
Douglas A. Lee
Chief Information Officer
70,734
(8)
32,817
37,917
(8)
*
Thomas Ordemann
Vice President, Community Pharmacy
Operations
46,063
(9)
25,813
20,250
(9)
*
Stanley G. Rosenbaum
Executive Vice President and Chief
Financial Officer
270,289
(10)
33,650
236,639
(10)
*
*
Less than 1%
(1)
Shares deemed beneficially owned by virtue of the right of an individual to acquire them
within 60 days after May 1, 2008 upon the exercise of an option to purchase shares of Common
Stock are treated as outstanding for purposes of determining beneficial ownership and the
percentage beneficially owned by such individual.
(2)
Assumes all the shares offered hereby are sold to persons who are not affiliates of the
selling stockholders and the selling stockholders sell no other shares they beneficially own.
(3)
Does not include 29,687 shares subject to the unvested portion of options held by Mr.
Breznicki.
(4)
Does not include 15,000 shares subject to the unvested portion of options held by Mr. Daddio.
(5)
Does not include 23,931 shares subject to the unvested portion of options held by Mr. Goldsby.
(6)
Does not include 15,000 shares subject to the unvested portion of options held by Ms. Johnson.
(7)
Includes 28,329 shares issuable upon exercise of the vested portion of options held by Mr.
Keller. Does not include 107,282 shares subject to the unvested portion of options held by
Mr. Keller.
(8)
Includes 26,667 shares issuable upon exercise of the vested portion of options held by Mr.
Lee. Does not include 78,645 shares subject to the unvested portion of options held by Mr.
Lee.
(9)
Does not include 130,625 shares subject to the unvested portion of options held by Mr.
Ordemann.
(10)
Includes 56,658 shares issuable upon exercise of the vested portion of options held by Mr.
Rosenbaum. Does not include 183,626 shares subject to the unvested portion of options held by
Mr. Rosenbaum.
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Use of Proceeds and Plan of Distribution
We will not receive any of the proceeds from the sale of the common stock by the selling
stockholders pursuant to this prospectus. The aggregate proceeds to the selling stockholders from
the sale of the common stock will be the purchase price of the common stock less any discounts and
commissions. A selling stockholder reserves the right to accept and, together with its agents, to
reject, any proposed purchase of common stock to be made directly or through agents.
The shares covered by this prospectus may be offered and sold from time to time by the selling
stockholders. The term "selling stockholders" includes donees, pledgees, transferees or other
successors-in-interest selling shares received after the date of this prospectus from a selling
stockholder as a gift, pledge, partnership distribution or other non-sale related transfer. The
selling stockholders will act independently of us in making decisions with respect to the timing,
manner and size of each sale. Such sales may be made on one or more exchanges or in the
over-the-counter market or otherwise, at prices and under terms then prevailing or at prices
related to the then current market price or in negotiated transactions. The selling stockholders
may sell their shares by one or more of, or a combination of, the following methods:
•
purchases by a broker-dealer as principal and resale by such
broker-dealer for its own account pursuant to this prospectus;
•
ordinary brokerage transactions and transactions in which the broker solicits purchasers;
•
block trades in which the broker-dealer so engaged will attempt to
sell the shares as agent but may position and resell a portion of
the block as principal to facilitate the transaction;
•
in over-the-counter distribution in accordance with the rules of
the Nasdaq Global Select Market;
•
in privately negotiated transactions;
•
in options transactions; or
•
in a combination of such transactions.
In addition, any shares that qualify for sale pursuant to Rule 144 may be sold under Rule 144
rather than pursuant to this prospectus.
To the extent required, this prospectus may be amended or supplemented from time to time to
describe a specific plan of distribution. In connection with distributions of the shares or
otherwise, the selling stockholders may enter into hedging transactions with broker-dealers or
other financial institutions. In connection with such transactions, broker-dealers or other
financial institutions may engage in short sales of the common stock in the course of hedging the
positions they assume with selling stockholders. The selling stockholders may also sell the common
stock short and redeliver the shares to close out such short positions. The selling stockholders
may also enter into option or other transactions with broker-dealers or other financial
institutions that require the delivery to such broker-dealer or other financial institution of
shares offered by this prospectus, which shares such broker-dealer or other financial institution
may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction).
The selling stockholders may also pledge shares to a broker-dealer or other financial institution,
and, upon a default, such broker-dealer or other financial institution may effect sales of the
pledged shares pursuant to this prospectus (as supplemented or amended to reflect such
transaction).
In effecting sales, broker-dealers or agents engaged by the selling stockholders may arrange for
other broker-dealers to participate. Broker-dealers or agents may receive commissions, discounts or
concessions from the selling stockholders in amounts to be negotiated immediately prior to the
sale.
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In offering the shares covered by this prospectus, the selling stockholders and any broker-dealers
who execute sales for the selling stockholders may be deemed to be "underwriters" within the
meaning of the Securities Act in connection with such sales. Any profits realized by the selling
stockholders and the compensation of any broker-dealer may be deemed to be underwriting discounts
and commissions.
In order to comply with the securities laws of certain states, if applicable, the shares must be
sold in such jurisdictions only through registered or licensed brokers or dealers. In addition, in
certain states the shares may not be sold unless they have been registered or qualified for sale in
the applicable state or an exemption from the registration or qualification requirement is
available and is complied with.
We have advised the selling stockholders that the anti-manipulation rules of Regulation M under the
Exchange Act may apply to sales of shares in the market and to the activities of the selling
stockholders and their affiliates. In addition, we will make copies of this prospectus available to
the selling stockholders for the purpose of satisfying the prospectus delivery requirements of the
Securities Act. The selling stockholders may indemnify any broker-dealer that participates in
transactions involving the sale of the shares against certain liabilities, including liabilities
arising under the Securities Act.
At the time a particular offer of shares is made, if required, a prospectus supplement will be
distributed that will set forth the number of shares being offered and the terms of the offering,
including the name of any underwriter, dealer or agent, the purchase price paid by any underwriter,
any discount, commission and other item constituting compensation, any discount, commission or
concession allowed or reallowed or paid to any dealer, and the proposed selling price to the
public.
Legal Matters
Barry A. Posner, the Company's Executive Vice President and General Counsel, has passed upon
certain legal matters in connection with the registration of the common stock offered hereby,
including the validity of the common stock offered hereby. As of the date hereof, Mr. Posner owns
an aggregate of 124,177 shares of Common Stock and options to purchase 431,178 shares of Common
Stock and participates in the 2008 Equity Incentive Plan.
Experts
The consolidated financial statements of BioScrip Inc. appearing in BioScrip Inc.'s Annual Report
(Form 10-K) for the year ended December 31, 2007 (including the schedule appearing therein), and
the effectiveness of BioScrip Inc.'s internal control over financial reporting as of December 31,
2007 have been audited by Ernst & Young LLP, independent registered public accounting firm, as set
forth in their reports thereon, included therein, and incorporated herein by reference. Such
consolidated financial statements are incorporated herein by reference in reliance upon such
report given on the authority of such firm as experts in accounting and auditing.
Where You Can Find More Information
We are subject to the information requirements of the Exchange Act, and in accordance therewith
file reports, proxy statements and other information with the SEC. These reports, proxy statements
and other information can be inspected and copied at the SEC's Public Reference room at 100 F
Street, N.E., Room 1580, Washington, D.C. 20549. The public may obtain information on the operation
of the Public Reference Room by calling the SEC at 1-800-SEC-0330. In addition, the SEC maintains
an Internet site at www.sec.gov that contains reports, proxy and information statements, and other
information regarding issuers that file electronically with the SEC. Endeavour maintains an
Internet site at www.endeavourcorp.com.
We have filed a registration statement with the SEC on Form S-8 under the Securities Act of 1933
(the "Securities Act") with respect to the shares of common stock offered by the selling
stockholders hereby. This prospectus does not contain all of the information set forth in the
registration statement and the exhibits thereto. You may refer to the registration statement and
the exhibits thereto for more information about our common stock and us. You can obtain
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a copy of the registration statement from the SEC at the address listed above or from the SEC's
Internet site. Statements made in this prospectus regarding the contents of any contract or
document filed as an exhibit to the registration statement are not necessarily complete and, in
each instance, reference is herby made to the copy of such contract or document so filed. Each such
statement is qualified in its entirety by such reference.
Incorporation of Certain Documents By Reference
We are incorporating by reference in this prospectus information we file with the SEC (other than
information furnished pursuant to Item 2.02 or Item 7.01 (including any financial statements or
exhibits relating thereto furnished pursuant to item 9.01) of any Current Report on Form 8-K),
which means that we are disclosing important information to you by referring you to those
documents. The information we incorporate by reference is an important part of this prospectus, and
later information that we file with the SEC automatically will update and supersede this
information. We incorporate by reference the documents listed below and any future filings we make
with the SEC under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act, excluding any
information in those documents that is deemed by the rules of the SEC to be furnished not filed,
until we close this offering:
(a) Our Annual Report on Form 10-K for the year ended December 31, 2007, filed with the SEC on
March 7, 2008.
(b) Our
Quarterly Report on Form 10-Q for the quarter ended March 31,
2008, filed with the SEC on May 6, 2008.
(c) Our Current Reports on Form 8-K filed with the SEC on January 25, 2008 and March 7, 2008;
and
(d) The description of our common stock contained in our registration statement on Form 8-A/A
dated December 4, 2002 and Form 8-A/A dated December 14, 2006.
You may request a copy of these filings, which we will provide to you at no cost, by writing
or telephoning us at the following address and telephone number:
BioScrip, Inc.
100 Clearbrook Road
Elmsford, NY 10523
(914) 460-1600
Attention: General Counsel
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PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
We are subject to the informational and reporting requirements of Sections 13(a), 14 and
15(d) of the Securities Exchange Act of 1934 (the "Exchange Act"), and in accordance therewith file
reports, proxy statements and other information with the Securities and Exchange Commission (the
"SEC"). The following documents that we heretofore filed with the SEC pursuant to the Exchange Act
are incorporated herein by reference:
(a) Our Annual Report on Form 10-K for the year ended December 31, 2007, filed with the SEC on
March 7, 2008.
(b) Our
Quarterly Report on Form 10-Q for the quarter ended March 31,
2008, filed with the SEC on May 6, 2008.
(c) Our Current Reports on Form 8-K filed with the SEC on January 25, 2008 and March 7, 2008;
and
(d) The description of our common stock contained in our registration statement on Form 8-A/A
dated December 4, 2002 and Form 8-A/A dated December 14, 2006.
All documents that we subsequently file with the SEC pursuant to Sections 13(a), 13(c), 14 and
15(d) of the Exchange Act, prior to the filing of a post-effective amendment that indicates that
all securities offered hereby have been sold or that deregisters all securities then remaining
unsold, shall be deemed to be incorporated by reference in this registration statement and to be
part hereof from the date of the filing of such documents. Any statement contained in a document
incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or
superseded for the purposes of this registration statement to the extent that a statement contained
herein or in any other subsequently filed document that also is incorporated or deemed to be
incorporated by reference herein modifies or supersedes such statement. Any statement so modified
or superseded shall not be deemed, except as so modified or superseded, to constitute a part of
this registration statement.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
Barry A. Posner, the Company's Executive Vice President and General Counsel, has passed upon
certain legal matters in connection with the registration of the common stock offered hereby,
including the validity of the common stock offered hereby. As of the date hereof, Mr. Posner owns
an aggregate of 124,177 shares of Common Stock and options to purchase 431,178 shares of Common
Stock and participates in the 2008 Equity Incentive Plan.
Item 6. Indemnification of Directors and Officers.
Section 145 of the Delaware General Corporation Law ("DGCL") provides that a corporation may
indemnify any person who was or is a party or is threatened to be made a party to any threatened,
pending or completed action, suit or proceeding whether civil, criminal or investigative (other
than an action by or in the right of the corporation) by reason of the fact that he is or was a
director, officer, employee or agent of the corporation, or is or was serving at the request of the
corporation as a director, officer, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise, against expenses (including attorneys' fees), judgments, fines
and amounts paid in settlement actually and reasonably incurred by him in connection with such
action, suit or proceeding if he acted in good faith and in a manner he reasonably believed to be
in or not opposed to the best interests of the corporation, and, with respect to any criminal
action or proceeding, had no reasonable cause to believe his conduct was unlawful. Section 145
further provides that a corporation similarly may indemnify any such person serving in any such
capacity who was or is a party or is threatened to be made a party to any threatened,
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pending or completed action or suit by or in the right of the corporation to procure a judgment in
its favor, against expenses (including attorneys' fees) actually and reasonably incurred in
connection with the defense or settlement of such action or suit if he acted in good faith and in a
manner he reasonably believed to be in or not opposed to the best interests of the corporation and
except that no indemnification shall be made in respect of any claim, issue or matter as to which
such person shall have been adjudged to be liable to the corporation unless and only to the extent
that the Delaware Court of Chancery or such other court in which such action or suit was brought
shall determine upon application that, despite the adjudication of liability but in view of all the
circumstances of the case, such person is fairly and reasonably entitled to indemnify for such
expenses which the Delaware Court of Chancery or such other court shall deem proper.
Section 102(b)(7) of the DGCL permits a corporation, in its certificate of incorporation, to
limit or eliminate, subject to some statutory limitations, the liability of directors to the
corporation or its stockholders for monetary damages for breaches of fiduciary duty, except for
liability (a) for any breach of the director's duty of loyalty to the corporation or its
stockholders, (b) for acts or omissions not in good faith or which involve intentional misconduct
or a knowing violation of law, (c) under Section 174 of the DGCL (relating to unlawful payment of
dividends and unlawful stock purchase and redemption), or (d) for any transaction from which the
director derived an improper personal benefit. Our Second Amended and Restated Certificate of
Incorporation provides that our directors shall not be liable to the company or its stockholders
for breach of fiduciary duty as a director, except for liability arising out of clauses (a) through
(d) in the preceding paragraph. The Second Amended and Restated Certificate of Incorporation and
our Amended and Restated By-Laws further provide that we shall indemnify our directors and officers
to the fullest extent permitted by the DGCL.
In addition, we maintain director and officer liability insurance policies. under which the
directors and officers of the Company are insured, within the limits and subject to the limitations
of the policies, against certain expenses in connection with the defense of actions, suits or
proceedings, and certain liabilities which might be imposed as a result of such actions, suits or
proceedings, to which they are parties by reason of being or having been directors or officers,
which could include liabilities under the Securities Act or the Exchange Act.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
The following exhibits are filed as part of this registration statement:
Exhibit No.
Exhibit
4.1
Second Amended and Restated Certificate of Incorporation (incorporated by
reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed on
March 17, 2005, SEC Accession No. 0000950123-05-003294).
4.2
Amended and Restated Bylaws (incorporated by reference to Exhibit 3.1 to the
Company's Current Report on Form 8-K filed on May 16, 2007, SEC Accession
no. 0000950123-07-007569).
4.3
Amended and Restated Rights Agreement, dated as of December 3, 2002 between
the Company and American Stock Transfer and Trust Company (incorporated by
reference to Exhibit 4.2 to the Post-Effective Amendment No. 3 to the
Company's form 8-A/A dated December 4, 2002).
4.6
First Amendment, dated December 13, 2006, to the Amended and Restated Rights
Agreement, dated as of December 3, 2002 (the "Rights Agreement"), between the
Company and American Stock Transfer & Trust Company, as Rights Agent
(incorporated by reference to Exhibit 4.3 to the Company's Current Report on
Form 8-K filed on December 14, 2006, SEC Accession No. 0000950123-06-0155184).
5.1
Opinion of Barry A. Posner
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Exhibit No.
Exhibit
23.1
Consent of Ernst & Young LLP
23.2
Consent of Barry A. Posner (included in Exhibit 5.1)
24.1
Power of Attorney (included on the signature page)
99.1
BioScrip, Inc. 2008 Equity Incentive Plan
99.2
Form of Stock Option Agreement under the 2008 Equity Incentive Plan
99.3
Form of Restricted Stock Grant Certificate under the 2008 Equity Incentive Plan
Item 9. Undertakings.
(a) The undersigned registrant hereby undertakes:
(1) to file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
(i) to include any prospectus required by Section 10(a)(3) of the Securities Act of 1933 (the
"Securities Act");
(ii) to reflect in the prospectus any facts or events arising after the effective date of the
registration statement (or the most recent post-effective amendment thereof) which, individually or
in the aggregate, represent a fundamental change in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that which was registered) and
any deviation from the low or high end of the estimated maximum offering range may be reflected in
the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes
in volume and price represent no more than a 20% change in the maximum aggregate offering price set
forth in the "Calculation of Registration Fee" table in the effective registration statement; and
(iii) to include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to such information in
the registration statement;
provided
,
however
, that paragraphs (a)(1)(i) and (a)(1)(ii) of this
section do not apply if the registration statement is on Form S-8 and the information required to
be included in a post-effective amendment by those paragraphs is contained in reports filed with or
furnished to the Commission by the registrant pursuant to Section 13 or Section 15(d) of the
Exchange Act that are incorporated by reference in the registration statement.
(2) that, for the purpose of determining any liability under the Securities Act, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial
bona fide
offering thereof.
(3) to remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
(b) The registrant hereby undertakes that, for the purpose of determining any liability under the
Securities Act, each filing of the registrant's annual report pursuant to Section 13(a) or
Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's
annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in
the registration statement shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial
bona fide
offering thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to
directors, officers and controlling persons of the registrant pursuant to the foregoing provisions,
or otherwise, the registrant has been advised that in the opinion of the SEC such indemnification
is against public policy as expressed in the
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Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the registrant of expenses incurred or paid by
a director, officer or controlling person of the registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in the opinion of its
counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed
in the Securities Act and will be governed by the final adjudication of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act, the registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has
duly caused this registration statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in Elmsford, New York, on the 16
th
day of May, 2008.
BIOSCRIP, INC.
By:
/s/ Barry A. Posner
Barry A. Posner,
Executive Vice President and General Counsel
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes
and appoints Richard H. Friedman and Barry A. Posner, and each of them acting individually, as his
true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution,
for him and in his name, place and stead, in any and all capacities, to sign any and all amendments
to this Registration Statement, and to file the same, with all exhibits thereto, and other
documents in connection therewith, with the Securities and Exchange Commission, granting unto said
attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and
every act and thing required or necessary to be done in and about the premises, as fully to all
intents and purposes as he might or could do in person, hereby ratifying and confirming all that
each of said attorneys-in-fact and agents, or any of them, or their or his substitute, may lawfully
do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed below by the following persons in the capacities indicated on the 16
th
day
of May 2008.
/s/ Richard H. Friedman
Chairman of the Board and
Richard H. Friedman
Chief
Executive Officer (Principal
Executive Officer)
/s/ Stanley G. Rosenbaum
(Principal Financial Officer and
Stanley G. Rosenbaum
Principal
Accounting Officer)
/s/ Patricia A. Bogusz
Controller
Patricia A. Bogusz
/s/ Charlotte W. Collins
Director
Charlotte W. Collins
/s/ Louis T. DiFazio
Director
Louis T. DiFazio
/s/ Myron Z. Holubiak
Director
Myron Z. Holubiak
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/s/ David R. Hubers
Director
David R. Hubers
/s/ Richard L. Robbins
Director
Richard L. Robbins
/s/ Stuart A. Samuels
Director
Stuart A. Samuels
/s/ Steven K. Schelhammer
Director
Steven K. Schelhammer
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EXHIBIT INDEX
Exhibit No.
Exhibit
4.1
Second Amended and Restated Certificate of Incorporation (incorporated by
reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed on
March 17, 2005, SEC Accession No. 0000950123-05-003294).
4.2
Amended and Restated Bylaws (incorporated by reference to Exhibit 3.1 to the
Company's Current Report on Form 8-K filed on May 16, 2007, SEC Accession
no. 0000950123-07-007569).
4.3
Amended and Restated Rights Agreement, dated as of December 3, 2002 between
the Company and American Stock Transfer and Trust Company (incorporated by
reference to Exhibit 4.2 to the Post-Effective Amendment No. 3 to the
Company's form 8-A/A dated December 4, 2002).
4.6
First Amendment, dated December 13, 2006, to the Amended and Restated Rights
Agreement, dated as of December 3, 2002 (the "Rights Agreement"), between the
Company and American Stock Transfer & Trust Company, as Rights Agent
(incorporated by reference to Exhibit 4.3 to the Company's Current Report on
Form 8-K filed on December 14, 2006, SEC Accession No. 0000950123-06-0155184).
5.1
Opinion of Barry A. Posner
23.1
Consent of Ernst & Young LLP
23.2
Consent of Barry A. Posner (included in Exhibit 5.1)
24.1
Power of Attorney (included on the signature page)
99.1
BioScrip, Inc. 2008 Equity Incentive Plan
99.2
Form of Stock Option Agreement under the 2008 Equity Incentive Plan
99.3
Form of Restricted Stock Grant Certificate under the 2008 Equity Incentive Plan