Significant Revenue Growth
Revenue for the first quarter was approximately $559 million, representing a 14% increase over the prior year period.
Substantial Increase in Adjusted EBITDA
First quarter adjusted EBITDA was $67.4 million, representing a 93.1% increase over the prior year period, primarily due to the improved pay rate environment and continued cost savings initiatives.
Preferred Payer Strategy Success
Preferred payer agreements increased to 24, accounting for approximately 54% of total PDS MCO volumes, up from 50% in Q4.
Private Duty Services (PDS) Growth
Revenue for the PDS segment was approximately $460 million, a 16.5% increase over the prior year, driven by a 6.1% increase in care volume.
ThriveSkilled Pediatrics Acquisition
The acquisition is expected to enhance Aveanna's preferred payer and government affairs strategies, with the transaction on target to close in the coming weeks.