Atlanta, Georgia – Edge Healthcare Partners is pleased to announce the sale of Doctor’s Choice Holdings, Inc. (“Doctor’s Choice”), a leading independent provider of home health services in Florida and a portfolio company of Evolve Capital (“Evolve”) to Aveanna Healthcare, LLC (“Aveanna”). Edge Healthcare Partners originated the transaction and served as the exclusive financial advisor to Doctor’s Choice.
“The entire Doctor’s Choice management team is proud of the business we and our staff have built. We believe Aveanna is the right partner to continue our mission of providing the highest quality home-based care throughout Florida and are excited about the next phase of the company’s growth" said Sandy Bell, CEO of Doctor’s Choice. “Through the combination of senior level attention, a highly competitive process and deep industry knowledge, Edge was able to deliver a successful outcome for Doctor’s Choice and its shareholders while also finding the right buyer that will retain Doctor’s Choice’s focus on delivering excellent care to patients.”
“Edge Healthcare Partners’ team provided thoughtful advice that was focused on the best outcome for Doctor’s Choice and its shareholders. They ran a disciplined and value enhancing process, which included successfully navigating the financial impact of the COVID-19 pandemic and delivering a great outcome for the company’s shareholders, employees and the patients that Doctor’s Choice has the privilege to serve throughout the state of Florida. This is the second transaction that we have worked on with the Edge Healthcare Partners team, and we continue to be impressed by the dedication, experience, and expertise that the professionals at Edge bring to each engagement,” said Jeff Baker of Evolve Capital.
Rod Windley, Executive Chairman of Aveanna commented, “The addition of Doctor’s Choice provides increased scale to Aveanna’s growing adult skilled home health segment and will enhance our ability to provide patients and their families with the highest quality care available in even more locations across the United States. Aveanna and Doctor’s Choice share a deep commitment to making a difference in the lives of the patients and the families that we serve.”
“We are grateful for the opportunity to work with Sandy Bell and the Doctor’s Choice and Evolve teams again,” said Bryan Pope, Partner at Edge Healthcare Partners. “We look forward to Doctor’s Choice and Aveanna joining forces to expand their reach of home health services, as they share the same commitment to providing high-quality, compassionate healthcare at home.”
As one of the leading advisors in the post-acute healthcare services sector, the Doctor’s Choice transaction represents the tenth post-acute healthcare transaction the Edge Healthcare Partners team has completed in the last twelve months.
About Doctor’s Choice
Based in Sarasota, Florida, Doctor’s Choice is one of the largest independent providers of home health services in the state of Florida. Doctor’s Choice is licensed to service 41 counties through its 16 branch offices throughout Florida. Over its 15-year history, Doctor’s Choice has developed a reputation for providing excellent quality care among patients, their families and referral sources. For more information,visit www.doctorschoicefl.com.
About Evolve Capital
Evolve Capital is a private equity firm based in Dallas, Texas that is focused exclusively on investing in entrepreneurial businesses. Evolve's principals have partnered with entrepreneurs to take their businesses to the next level since 1993. Evolve provides entrepreneurs with liquidity up front and also upon exit through their retained equity stake. In between, Evolve provides professional management and a strong partnership, which increases shareholder value and attracts more potential buyers. Evolve's entrepreneur and management team partners focus on positioning companies to maximize value upon exit. For more information, visit the Evolve website, www.evolvecapital.com.
About Aveanna Healthcare
Based in Atlanta, Georgia, Aveanna is a leading, diversified home care platform focused on providing care to medically complex, high-cost patient populations. Aveanna has 245 locations in 30 states, with 42,000 caregivers. Aveanna is dedicated to providing outstanding care with compassion, quality and clinical excellence. For more information, visit www.aveannahealthcare.com.
About Edge Healthcare Partners
Edge Healthcare Partners is an independent Atlanta, Georgia based investment banking firm focused on providing merger and acquisition services to leading private and public healthcare companies and private equity firms. Edge Healthcare Partners also assists companies with raising capital for growth, acquisitions, recapitalizations, going-private and management buy-out transactions. The professionals of Edge Healthcare Partners have over 70 years of collective investment banking experience and have completed more than 100 transactions across the entire spectrum of healthcare, with a particular focus on post-acute, multi-site and outsourced healthcare services providers. Securities are offered through EHCP Corporate Finance, Member FINRA and SIPC. For more information, visit www.edgehcp.com.
