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December 13, 2021updated 22 Dec 2021 4:42pm

Aveanna Healthcare finalises $345m deal to buy Comfort Care

Comfort Care’s integration with Aveanna is expected to take place next year.

US-based Aveanna Healthcare Holdings has concluded the purchase of adult home health and hospice services provider Comfort Care for $345m.

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Comfort Care’s integration with Aveanna is expected to take place next year.

Established in 2000, Comfort Care has a presence in Alabama and Tennessee through a network of 31 locations.

Aveanna executive chairman Rod Windley said: “The addition of Comfort Care advances Aveanna’s strategy of expanding our Home Health and Hospice segment by adding density in demographically attractive markets for skilled adult care services.

“Comfort Care has an established reputation in Alabama, a growing presence in Tennessee and a strong management team that will allow us to bring Aveanna’s high standards of care to even more patients and families.

“We’re excited to welcome Comfort Care’s talented professionals and exceptional capabilities to Aveanna, enhancing our ability to serve fast-growing, attractive markets.”

Aveanna used proceeds from a new $415m term loan as well as a $150m securitisation facility and cash reserves to finance the transaction.

The deal strengthens Aveanna’s adult home health and hospice operations.

Comfort Care CEO Alan Parker said: “At Comfort Care, we have always been dedicated to providing our patients the highest level of quality care with empathy and professionalism.

“We were attracted to Aveanna because they share these same fundamental values. We look forward to continuing to grow and serve as part of the Aveanna family.”

For this transaction, Edge Healthcare Partners was Aveanna’s financial adviser, while Greenberg Traurig acted as its legal adviser.

Edgemont Partners was Comfort Care’s financial adviser and Butler Snow its legal adviser.

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Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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