Aveanna Acquires Thrive SPC, Expanding Pediatric Home Care Footprint

(RTTNews) - Aveanna Healthcare Holdings Inc. (AVAH), a leading home care provider for medically complex patients, has completed its acquisition of Thrive Skilled Pediatric Care - Thrive SPC.

Thrive SPC, operating in 23 locations across seven states, offers Private Duty Nursing and other pediatric services, including therapy, licensed health aides, and CNA care. The acquisition strengthens Aveanna's presence in existing markets and expands its reach into Arizona and Kansas.

Jeff Shaner, CEO of Aveanna, stated that Thrive SPC's addition presents a significant growth opportunity and aligns well geographically and culturally with Aveanna's mission of clinical excellence and compassionate care. He emphasized that the merger supports their strategic goal of leading in high-quality care while enhancing value for payors and stakeholders.

The transaction was financed through a mix of common stock and cash. Edge Healthcare Partners and Bass, Berry & Sims advised Aveanna, while Thrive SPC was supported by Cantor Fitzgerald & Co. and Ropes & Gray LLP.

AVAH is currently trading at $5.43, or 1.90% lower on the Nasdaq Global Select Market.