AVAH

Aveanna Healthcare provides home healthcare and hospice services delivering skilled nursing, therapy, and personal care to medically fragile children and adults requiring ongoing clinical support in residential settings. Headquartered in Atlanta, Georgia, Aveanna operates one of the nation's largest home healthcare networks serving approximately 30,000 patients daily through over 400 locations across 33 states. The company specializes in pediatric home healthcare including private duty nursing for ventilator-dependent children, enteral feeding support, tracheostomy care, and other complex medical needs enabling children with serious conditions to receive care at home rather than institutional settings. Aveanna's adult services include skilled nursing for medically complex conditions, rehabilitation therapy following hospitalizations or surgeries, and hospice care for terminally ill patients. The company generates approximately 80% of revenues from government payers including state Medicaid programs funding pediatric services and Medicare covering adult home health and hospice, with remaining revenues from commercial insurance and private pay. Aveanna completed its initial public offering in April 2021 and reported annual revenues exceeding $1.8 billion with EBITDA margins of approximately 10-12% reflecting thin operating margins typical of healthcare services businesses. The company faces significant operational challenges including nationwide nursing shortages constraining clinical staffing availability and driving wage inflation, complex regulatory compliance navigating state-specific Medicaid rules and federal Medicare requirements, and reimbursement pressures as government payers seek cost containment limiting rate increases. Recent strategic priorities include recruiting and retaining clinical staff through competitive compensation, training programs, and improved scheduling flexibility; investing in technology platforms streamlining administrative processes and enabling remote patient monitoring; and pursuing strategic acquisitions consolidating fragmented home healthcare markets expanding geographic presence and referral networks. Aveanna competes with national providers including BrightSpring Health Services and Encompass Health, plus thousands of regional and local agencies. The company operates with moderate leverage requiring careful financial management balancing growth investments against debt service obligations and capital expenditure needs.