Edgemont Partners Advises Comfort Care Home Health & Hospice on its Sale to Aveanna Healthcare for $345.0 million
Edgemont closes its twelfth post-acute services transaction in sixteen months
NEW YORK, NY – December 21, 2021 – Edgemont Partners (“Edgemont”), a premier healthcare investment bank and a leading M&A and capital raising advisor exclusively serving healthcare companies, announced that it acted as exclusive financial advisor to Comfort Care Home Health & Hospice (“Comfort Care” or the “Company”) on its sale to Aveanna Healthcare Holdings (NASDAQ: AVAH) valued at $345.0 million.
Edgemont’s deal team was led by Eugene Goldenberg, Managing Director. This is Edgemont’s twelfth post-acute M&A transaction in the last sixteen months. Butler Snow LLP provided legal counsel to the Company. The transaction closed on December 10, 2021.
Headquartered in Pelham, Alabama, Comfort Care is a leading regional provider of home health and hospice services with 31 locations (22 hospice, 9 home health) across Alabama and Tennessee. Comfort Care’s founders stated, “We selected Edgemont Partners as our financial advisor due to their extensive expertise and track record in home health and hospice, their understanding of our business and the markets we operate in, and their intimate knowledge of the competitive landscape and potential buyers. We have known Eugene for several years and he and his team were consummate professionals throughout the process and delivered an outcome that far exceeded our expectations.”
Alan Parker, Chief Executive Officer of Comfort Care said, “The transaction with Aveanna represents a strong cultural fit with Comfort Care. The mission and values of the two organizations are very much aligned. We are thrilled to partner with a world-class organization and believe Aveanna will be a great steward of the Comfort Care legacy.”
About Comfort Care Home Health & Hospice
Headquartered in Pelham, Alabama, Comfort Care is a leading regional provider of home health and hospice services with 31 locations across Alabama and Tennessee. For more information, please refer to the Comfort Care Home Health and Hospice websites at www.comfortcarehomehealth.com and www.comfortcarehospice.com.
About Aveanna Healthcare
Aveanna Healthcare is headquartered in Atlanta, Georgia and has locations in 30 states providing a broad range of pediatric and adult healthcare 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 patients. The Company also provides case management services in order to assist families and patients by coordinating the provision of services between insurers or other payers, physicians, hospitals, and other healthcare providers. In addition, the Company provides respite healthcare services, which are temporary care provider services provided in relief of the patient’s normal caregiver. The Company’s services are designed to provide a high quality, lower cost alternative to prolonged hospitalization. For more information, please refer to the Aveanna Healthcare website at www.aveanna.com.
About Edgemont Partners
Now in its 20th year, Edgemont ranks among the most active and best-performing independent healthcare M&A and financial advisors in the U.S. We focus solely on providing expert strategic advice and transaction execution to healthcare and life sciences companies, bringing a steadfast commitment to our clients, driven always to prioritize their best interests. Edgemont’s principals have executed 185+ transactions with an aggregate value of $75 billion+.
For more information on Edgemont and how we can best serve you, contact Ben Hughes at +1 (646) 632-3967, or visit our website at www.edgemont.com.
Investment banking services are provided by Edgemont Capital Partners, LP, a registered broker-dealer and member of FINRA and SIPC.