Expansion into new markets and therapeutic categories, plus smart investments in systems and people, credited for driving advancement and setting the stage for future growth
GREENSBORO, N.C., Oct. 16, 2023 /PRNewswire-PRWeb/ -- AvevoRx, a national, independent provider of specialty infusion pharmacy services, announced record growth in the first half of 2023. The company's revenue and EBITDA increased by a remarkable 408 percent and 688 percent, respectively, year-over-year. The number of patients AvevoRx has served grew by 182 percent, thanks in large part to several strategic geographic expansions. To accommodate this and prepare for additional growth in the future, the company has invested heavily in infrastructure, systems, and people.
"We are thrilled with our performance in the first half of 2023," said Robin Johnson, Chief Financial Officer for AvevoRx. "Our growth is a testament to our commitment to providing high-quality, patient-centered care."
AvevoRx's growth is being driven by several factors, including:
- The company's robust, ongoing investments in its sales and Consumer Advocacy teams
- Early wins on several limited distribution drug (LDD) partnerships
- Continuous, intentional geographical expansion into key markets nationwide
- Strong relationships with healthcare providers allow patient care to be coordinated with speed and simplicity.
- Increasing demand for specialty infusion services, as more patients are being treated with complex medications that require specialized care (Grand View Research, 2023).
"We are excited to continue our growth trajectory in the second half of 2023 and beyond. It is refreshing to see the sizeable investments we have made and continue to make pay off," said Lauren Pumphrey, AvevoRx Co-Founder and Vice President of Sales. "Patients and physicians' offices have choices, and we are honored every time someone entrusts us with their care. Our commitment to providing the very best care and service possible is paramount to our success, and the growth in the number of patients we serve is truly the best measure of whether we are getting quality care right."
With regional pharmacies and services now available in 27 states, AvevoRx brings its services to more than 71 percent of the total United States population. The company continues to expand its nursing and clinical footprints as well, having added more than 60 nurses nationwide in just the last twelve months.
"By virtually every metric, we have experienced amazing growth that significantly outpaces market norms. The numbers validate that our model works, that our referral sources and patients see value in us, and that our investments have been good ones," said Eric Hill, Co-Founder of AvevoRx.
Visit AvevoRx.com for more information.
Media Contact
Victoria Seremeta, AvevoRx, 1 5162861950, [email protected], www.AvevoRx.com
SOURCE AvevoRx
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