Aveanna Healthcare Holdings, Inc., a leading, diversified home care platform focused on providing care to medically complex, high-cost consumer populations, has completed its acquisition of Accredited Home Care (Accredited), a leading private duty services company based in Southern California, for a base purchase price of $180 million, plus up to $45 million subject to satisfaction of certain 2021 volume targets. Aveanna expects to fully integrate Accredited in 2022, with most of the integration process occurring in the first 180 days.
Founded in 1980, Accredited is one of the largest home care agencies in the Western United States, providing nursing and home health services to more than 9,000 health care consumers annually through its team of 6,250 field nurses and caregivers. Accredited has been recognized as one of the nation’s HomeCare Elite in repeated years. Accredited has five offices located in Los Angeles, Orange, and San Diego counties. Accredited had approximately $114.8 million in revenue for the twelve months ended August 31, 2021. Accredited currently derives 86% of its revenues through Medicaid or other state-funded programs.
Edge Healthcare Partners served as Aveanna’s financial advisor, and Greenberg Traurig, LLP as its legal advisor. The Braff Group served as Accredited’s financial advisor, and Yong Gruber Associates as its legal advisor.
Aveanna Healthcare is headquartered in Atlanta, Georgia and has locations in 30 states providing a broad range of pediatric and adult health care services including nursing, rehabilitation services, occupational nursing in schools, therapy services, day treatment centers for medically fragile and chronically ill children and adults, home health and hospice services, as well as delivery of enteral nutrition and other products to consumers. The Company also provides case management services to assist families and consumers by coordinating the provision of services between insurers or other payers, primary care professionals, hospitals, and other health care provider organizations. In addition, the Company provides respite health care services, which are temporary care provider organization services provided in relief of the consumer’s normal caregiver. The Company’s services are designed to provide a high quality, lower cost alternative to prolonged hospitalization.
This was reported by Aveanna Healthcare on December 1, 2021.
Contact information: Ross Lovern, Communications, Kekst CNC for Aveanna Healthcare, 400 Interstate North Parkway, Suite 1600, Atlanta, Georgia 30339; 770-441-1580; Email: ross.lovern@kekstcnc.com; Website: https://www.aveanna.com/
