Aveanna Healthcare Holdings Inc. (NASDAQ: AVAH), a leading,
diversified home care platform focused on providing care to
medically complex, high-cost patient populations, today announced
the appointment of Matt Buckhalter to serve as Chief Financial
Officer and continuing in the role of Principal Financial Officer,
effective January 1, 2024. Mr. Buckhalter was appointed to serve as
Interim Chief Financial Officer and Principal Financial Officer in
July, 2023.
“I am pleased to announce the promotion of Matt
to the Chief Financial Officer position. Matt has provided strong
financial leadership and continuity as we build on our recent
successes to transform our business. I have great confidence in the
collaborative relationship between Matt, serving as our Chief
Financial Officer, and Deborah Stewart, continuing to serve in her
role as our Principal Accounting Officer. The leadership they bring
to our accounting and finance teams, and Aveanna overall, is
critical as we focus on executing our key initiatives into 2024,”
said Jeff Shaner, Chief Executive Officer of Aveanna.
Matt Buckhalter has more than a decade of
financial leadership experience in the healthcare industry. He
joined Aveanna in 2016 and is responsible for corporate and
operational finance, business intelligence, financial planning and
analysis (FP&A), and investor relations. Prior to his current
role with Aveanna, Mr. Buckhalter served as Senior Vice President
of Finance and led the company’s Investor Relations Group. Before
joining Aveanna, he was Vice President of Finance for RT Capital,
and he has served as a senior financial analyst for Gentiva Health
Services in addition to other accounting and financial roles.
“The Board of Directors is delighted with the
appointment of Matt Buckhalter as Chief Financial Officer,” said
Rod Windley, Aveanna's Chairman of the Board. “Having worked
closely with Matt over the years, I have a high level of confidence
with his financial acumen, industry knowledge, and healthcare
expertise. The Board recognizes this executive team’s ability to
execute the Company’s vision and overall strategic initiatives to
deliver high-quality care to our patients at an exceptional value
to both our government and payor partners.”
Forward-Looking Statements
Certain matters discussed in this press release
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. All statements
(other than statements of historical facts) in this press release
regarding our prospects, plans, financial position, business
strategy and expected financial and operational results may
constitute forward-looking statements. Forward-looking statements
generally can be identified by the use of terminology such as
“believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,”
“seek,” “will,” “may,” “should,” “would,” “predict,” “project,”
“potential,” “continue,” “could,” “design,” or the negatives of
these terms or variations of them or similar expressions. These
statements are based on certain assumptions that we have made in
light of our experience in the industry as well as our perceptions
of historical trends, current conditions, expected future
developments and other factors we believe are appropriate in these
circumstances. These forward-looking statements are based on our
current expectations and beliefs concerning future developments and
their potential effect on us. Forward-looking statements involve a
number of risks and uncertainties that may cause actual results to
differ materially from those expressed or implied by such
forward-looking statements, such as our ability to successfully
execute our growth strategy, including through organic growth and
the completion of acquisitions, effective integration of the
companies we acquire, unexpected costs of acquisitions and
dispositions, the possibility that expected cost synergies may not
materialize as expected, the failure of Aveanna or the companies we
acquire to perform as expected, estimation inaccuracies in revenue
recognition, our ability to drive margin leverage through lower
costs, unexpected increases in SG&A and other expenses, changes
in reimbursement, changes in government regulations, changes in
Aveanna’s relationships with referral sources, increased
competition for Aveanna’s services or wage inflation, the failure
to retain or attract employees, changes in the interpretation of
government regulations or discretionary determinations made by
government officials, uncertainties regarding the outcome of rate
discussions with managed care organizations and our ability to
effectively collect our cash from these organizations, changes in
the case-mix of our patients, as well as the payor mix and payment
methodologies, legal proceedings, claims or governmental inquiries,
our ability to effectively collect and submit data required under
Electronic Visit Verification regulations, our ability to comply
with the terms and conditions of the CMS Review Choice
Demonstration program, our ability to effectively implement and
transition to new electronic medical record systems or billing and
collection systems, a failure to maintain the security and
functionality of our information systems or to defend against or
otherwise prevent a cybersecurity attack or breach, changes in tax
rates, our substantial indebtedness, the impact of adverse weather,
the impact to our business operations, reimbursements and patient
population were the COVID-19 environment to worsen, and other risks
set forth under the heading “Risk Factors” in Aveanna’s Annual
Report on Form 10-K for its 2022 fiscal year filed with the
Securities and Exchange Commission on March 16, 2023, which is
available at www.sec.gov. In addition, these forward-looking
statements necessarily depend upon assumptions, estimates and dates
that may prove to be incorrect or imprecise. Accordingly,
forward-looking statements included in this press release do not
purport to be predictions of future events or circumstances, and
actual results may differ materially from those expressed by
forward-looking statements. All forward-looking statements speak
only as of the date made, and Aveanna undertakes no obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
About Aveanna Healthcare
Aveanna Healthcare is headquartered in Atlanta,
Georgia and has locations in 33 states providing a broad range of
pediatric and adult healthcare services including nursing,
rehabilitation services, occupational nursing in schools, therapy
services, day treatment centers for medically fragile and
chronically ill children and adults, home health and hospice
services, as well as delivery of enteral nutrition and other
products to patients. The Company also provides case management
services in order to assist families and patients by coordinating
the provision of services between insurers or other payers,
physicians, hospitals, and other healthcare providers. In addition,
the Company provides respite healthcare services, which are
temporary care provider services provided in relief of the
patient’s normal caregiver. The Company’s services are designed to
provide a high quality, lower cost alternative to prolonged
hospitalization. For more information, please visit
www.aveanna.com.
Investor ContactMatt
Buckhalter, Interim CFOir@aveanna.com
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