Aya Healthcare indicators an settlement to amass Cross Nation Healthcare
US staffing agency Aya Healthcare has agreed to amass Cross Nation Healthcare, a consulting agency and workforce options supplier, for about $615 million.
The acquisition will mix Aya and Cross Nation's technology-based workforce options in an effort to diversify Aya's choices within the healthcare sector.
The partnership goals to reinforce Aya Healthcare's current companies in journey nursing, daycare, allied well being, everlasting employees recruitment, locum tenens, interim management and non-clinical professionals.
Each corporations' prospects are anticipated to learn from a variety of expertise options, together with provider administration techniques, supplier companies, float pool expertise and predictive analytics.
The mixed entity goals to assist purchasers cut back healthcare prices whereas making certain excessive scientific outcomes for sufferers.
Alan Braynin, president and CEO of Aya Healthcare, stated: “We’re excited to affix forces with Cross Nation and collectively deliver extra progressive options and distinctive service throughout the trade.
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“By combining our strengths, sources and unwavering dedication to delivering best-in-class expertise options, we’re uniquely positioned to ship higher worth to our healthcare techniques, colleges, physicians and non-clinical professionals.
“Aya and Cross Nation will function as separate manufacturers and assist one another's prospects with higher entry to candidates whereas increasing doctor project alternatives.”
The transaction is anticipated to shut within the first half of subsequent 12 months, topic to approval by Cross Nation shareholders and regulators.
Following the acquisition, Cross Nation will transition to a non-public entity and delist from the NASDAQ, whereas Cross Nation President and CEO John Martins will proceed in his function to make sure a easy transition.
Authorized and monetary advisors have been appointed to each corporations, with Procopio, Cory, Hargreaves & Savitch performing as authorized advisor to Aya Healthcare.
BofA Securities and Davis Polk & Wardwell function monetary advisor and authorized advisor, respectively, to Cross Nation Healthcare.
