Aggressive organic growth, expanded service-area licensure drive continued success for company dedicated to simplifying specialty infusion services for patients with complex chronic conditions; AvevoRx forecasts doubling patient visits in 2025
GREENSBORO, N.C., March 31, 2025 /PRNewswire-PRWeb/ -- AvevoRx, a leading national, independent provider of specialty infusion pharmacy services, today released results for FY2024 with revenue increasing by 96 percent, year over year. Moreover, annual EBITDA for AvevoRx more than tripled last year, underscoring strong leverage of operating expenses for one of the fastest-growing companies in the emerging health services space.
"We continue to set the standard for growth in a market that's clearly responding to our deep commitment to providing patients with the highest quality care and service possible," said Lauren Pumphrey, Executive Vice President at AvevoRx. "Our positive financial performance is a testament to our core philosophy of investing in best-in-class infrastructure, systems, and people. We're anticipating an even better 2025."
The news comes on the heels of record recent growth for AvevoRx helping to serve a greater number of patients across the U.S. The company's rapid rise in revenues has been driven by a combination of key executive hires, new licensure expansions, and strategic organic geographic growth, enabling AvevoRx to now serve patients in some 39 states and the District of Columbia.
In the first half of 2023 alone, AvevoRx revenue and EBITDA increased by 408 percent and 688 percent, respectively, year-over-year. The company's patient count grew by 182 percent over that same time period.
AvevoRx maintained its robust year-over-year financial growth in 2024, due to several significant accomplishments, including:
- Increased geographic reach servicing more than 2,500 patients across the U.S.
- Nine new states added to its coverage map — including Alaska, Kansas, Maine, Mississippi, Nebraska, New Jersey, North Dakota, Rhode Island, and Utah — in addition to Washington, D.C.
- Coverage for nearly 85 percent of the total domestic population
- Deployment of more than 180 nurses on some 15,000 patient visits last year, projected to more than double in 2025
- Strategic acquisition of Infupharma, a high-performance community pharmacy based in Hollywood, Fla.
In addition to Florida, AvevoRx recently expanded its therapeutic offerings to other critical U.S. markets, including the Northeast region, where patients in New Jersey and Maine can now access its specialized infusion treatments. Last year, the company also began serving patients in Minnesota, Washington state, Kansas, and the Dakotas.
AvevoRx's robust organic growth is meeting rising market demand, given an estimated six in 10 Americans live with at least one chronic disease, according to The Center for Disease Control and Prevention's (CDC) National Center for Chronic Disease Prevention and Health Promotion (NCCDPHP). And ailments treated by AvevoRx's services represent the leading causes of death and disability in the U.S., not to mention a primary driver of rising healthcare costs.
Last summer, AvevoRx announced the development of a Total Parenteral Nutrition (TPN) program to support patients with complex gastrointestinal disorders requiring long-term therapy, led by Katie Hall, RD, CNSC, who joined the company as National Director of Nutrition Services.
AvevoRx also announced in 2024 the appointment of Cary Goodin as vice president of managed care. The healthcare-industry veteran is guiding AvevoRx's managed care strategy and helping to expand and strengthen the company's partnerships with health insurers, managed care organizations, PBMs, HMOs, and payors across multiple markets — ensuring broad access to AvevoRx's patient-centric infusion therapies.
AvevoRx began as a startup in Greensboro, N.C., founded by a team of industry veterans with 130 years of combined experience. By November of that year, it acquired Mid Valley Health Services, a long-established infusion company based in Modesto, CA. In September 2022, AvevoRx entered an agreement to acquire Access to Care, LLC, an independent home infusion pharmacy in Muncie, Ind. Today, both companies operate under the AvevoRx name.
More information on the company and its meteoric financial growth is available at AvevoRx.com.
About AvevoRx
AvevoRx is a national, independent provider of specialty infusion pharmacy services. The company focuses on the highest-quality, personalized care customized to patients with complex, chronic disorders. Treatments are made available via specialized pharmacy locations, field nurses, and additional support staff throughout the United States. AvevoRx also provides acute infusion therapies on a regional basis for patients with short-term therapeutic needs. Privately held, the company was founded in 2021 by a small group of industry veterans with a combined experience of more than 130 years. AvevoRx is headquartered in North Carolina. To learn more, visit www.AvevoRx.com or follow us on Instagram or LinkedIn.
Media Contact
Richard Kendall, AvevoRx, 1 6193462084, [email protected]
SOURCE AvevoRx
Share this article