Thrive: Thrive Skilled Pediatric Care to be Acquired by Aveanna Healthcare

Deal News | Apr 09, 2025 | Ropes & Gray

Ropes & Gray has successfully represented Summit Partners-backed company Thrive Skilled Pediatric Care in its sale to Aveanna Healthcare Holdings. This acquisition, announced on April 3 and with an anticipated closure in the second quarter of 2025, aligns with Aveanna's strategic expansion plans. Thrive SPC, one of the largest independent providers of pediatric home care, operates 23 locations across seven states, offering high-demand, skilled private duty nursing services, pediatric therapy, licensed health aide services, and certified nurse assistant services. Aveanna Healthcare, headquartered in Atlanta, already operates in 34 states, providing comprehensive services for both pediatric and adult care. The extensive legal team from Ropes & Gray, led by various partners specializing in private equity, tax, health care, and other areas, demonstrates the complexity and significant scope of this transaction.

Sectors

  • Healthcare Services
  • Private Equity

Geography

  • United States – The transaction involves companies operating primarily within the United States, where both have extensive geographic reach—Thrive in 7 states and Aveanna in 34 states.

Industry

  • Healthcare Services – Relevant because both involved companies, Thrive and Aveanna, provide a variety of healthcare services, particularly home healthcare and pediatric services.
  • Private Equity – Relevant as Summit Partners, a private equity firm, is involved in the transaction through its exit from Thrive Skilled Pediatric Care.

Financials

    Participants

    NameRoleTypeDescription
    Thrive Skilled Pediatric CareTarget companyCompanyA leading provider of pediatric home care services with 23 locations across seven states in the United States.
    Aveanna Healthcare HoldingsBidding company/buyerCompanyAn Atlanta-based healthcare provider with operations in 34 states, serving both pediatric and adult patients with a range of medical services.
    Summit PartnersPrivate Equity Backer/Selling CompanyCompanyA private equity firm that is exiting its investment in Thrive Skilled Pediatric Care through its sale to Aveanna Healthcare.
    Ropes & GrayLegal advisorCompanyA law firm that advised Summit Partners and Thrive Skilled Pediatric Care on the sale transaction to Aveanna Healthcare Holdings.