Aveanna Healthcare Holdings, which provides pediatric and adult home care services, announced terms for its IPO on Tuesday.
The Atlanta, GA-based company plans to raise $650 million by offering 38.2 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Aveanna Healthcare Holdings would command a fully diluted market value of $3.2 billion.
Aveanna states that it is a leading, diversified home care platform focused on providing care to medically complex, high-cost patient populations. Its clinical model is led by its caregivers, primarily skilled nurses, who serve the full range of patient populations, from newborns to seniors. Over the past five years, Aveanna has expanded from 17 states to 30 states, and it currently has 245 branch locations.
Aveanna Healthcare Holdings was founded in 2016 and booked $1.5 billion in sales for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol AVAH. Barclays, J.P. Morgan, BMO Capital Markets, Credit Suisse, BofA Securities, Deutsche Bank, Jefferies, RBC Capital Markets and Truist Securities are the joint bookrunners on the deal. It is expected to price during the week of April 26, 2021.
