The following discussion and analysis provides information we believe is
relevant to an assessment and understanding of our results of operations,
financial condition, liquidity and cash flows for the periods presented below.
This discussion should be read in conjunction with the interim unaudited
consolidated financial statements and related notes contained elsewhere in this
Quarterly Report on Form 10-Q and in conjunction with the audited consolidated
financial statements and related notes for the year ended January 2, 2021, our
"Risk Factors" and "Management's Discussion and Analysis of Financial Condition
and Results of Operations" included in our prospectus dated April 28, 2021 (the
"Prospectus"), which is deemed to be part of our Registration Statement on Form
S-1 (File No. 333-254981), filed with the SEC. As discussed in the section above
titled "Cautionary Note Regarding Forward-Looking Statements," the following
discussion contains forward-looking statements that are based upon our current
expectations, including with respect to our future revenues and operating
results. Our actual results may differ materially from those anticipated in such
forward-looking statements as a result of various factors. Factors that could
cause or contribute to such differences include, but are not limited to, those
identified below, and those discussed in the section titled "Risk Factors"
included under Part II, Item 1A below as well as in the Prospectus.
Unless otherwise provided, "Aveanna", "we," "our" and the "Company" refer to
Aveanna Healthcare Holdings Inc. and its consolidated subsidiaries.
Our fiscal year ends on the Saturday that is closest to December 31 of a given
year, resulting in either a 52-week or 53-week fiscal year. "Fiscal year 2021"
refers to the 52-week fiscal year ended on January 1, 2022. "Fiscal year 2020"
refers to the 53-week fiscal year ended on January 2, 2021. The "three-month
period ended July 3, 2021", or "first quarter 2021" refers to the 13-week fiscal
quarter ended on July 3, 2021. The "three-month period ended June 27, 2020" or
"first quarter 2020" refers to the 13-week fiscal quarter ended on June 27,
2020. The "six-month period ended July 3, 2021", or "first six months of 2021"
refers to the period from January 3, 2021 through July 3, 2021. The "six-month
period ended June 27, 2020", or "first six months of 2020" refers to the period
from December 29, 2019 through June 27, 2020.
Overview
We are a leading, diversified home care platform focused on providing care to
medically complex, high-cost patient populations. We directly address the most
pressing challenges facing the U.S. healthcare system by providing safe,
high-quality care in the home, the lower cost care setting preferred by
patients. Our patient-centered care delivery platform is designed to improve the
quality of care our patients receive, which allows them to remain in their homes
and minimizes the overutilization of high-cost care settings such as hospitals.
Our clinical model is led by our caregivers, primarily skilled nurses, who
provide specialized care to address the complex needs of each patient we serve
across the full range of patient populations: newborns, children, adults and
seniors. We have invested significantly in our platform to bring together
best-in-class talent at all levels of the organization and support such talent
with industry leading training, clinical programs, infrastructure and
technology-enabled systems, which are increasingly essential in an evolving
healthcare industry. We believe our platform creates sustainable competitive
advantages that support our ability to continue driving rapid growth, both
organically and through acquisitions, and positions us as the partner of choice
for the patients we serve.
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