Atlanta Home Health Company Raises $75M
Staff Report From Metro Atlanta CEO
Monday, April 17th, 2017
Penfund, an independent provider of junior capital to middle market companies located in the United States and Canada, announced the completion of a U.S. $75 million 2nd lien debt investment in Aveanna Healthcare. Aveanna was formed through the merger of Epic Health Services and PSA Healthcare and is owned by Bain Capital Private Equity, J.H. Whitney Capital Partners, management and other investors including Penfund.
Headquartered in Atlanta, Georgia, Aveanna is the largest pediatric home healthcare company in the United States, providing essential nursing services to medically fragile children in 23 states. The company is led by a seasoned management team including Rod Windley as Executive Chairman, Tony Strange as CEO, and Jeff Shaner as COO who were formerly executives with PSA and Gentiva Health Services.
“We are pleased to support Aveanna Healthcare as it joins two best-in-class operators in Epic and PSA,” stated Nicole Fich, a partner at Penfund. “Penfund has previously had the pleasure of partnering with PSA on multiple occasions and we believe the merger will allow Aveanna to deliver high quality, comprehensive care to pediatric patients and provide critical support to their families.”
Adam Breslin, a partner at Penfund, added “We are delighted to invest in Aveanna. With its scale and focus on pediatric home nursing, we believe Aveanna is uniquely positioned to be a dependable and valued partner to patients, hospitals, referral sources and payors.”