BOCA RATON, Fla.--(BUSINESS WIRE)--
Cross Country Healthcare, Inc. (NASDAQ: CCRN) today announced the
completion of its acquisition of Mediscan, a quality provider of
temporary healthcare recruiting, staffing and workforce solutions to
both the healthcare and education markets, on Friday, October 30, 2015.
The purchase price included $28 million in cash and $5 million in shares
of the Company's Common Stock, subject to a net working capital
adjustment. Sellers are also eligible to receive an earn-out based on
Mediscan's 2016 and 2017 performance that could provide up to an
additional $7 million of cash over the two years. The 349,871 shares of
Common Stock issued in connection with the acquisition are subject to a
lockup period. The Company will discuss the transaction in more detail
on its quarterly earnings call on Thursday, November 5, 2015 at 9:00
a.m. Eastern Time.
About Cross Country Healthcare, Inc.
Cross Country Healthcare, Inc., headquartered in Boca Raton, Florida, is
a national leader in providing leading-edge healthcare workforce
solutions. Our solutions are geared towards assisting our clients solve
labor cost issues while maintaining high quality outcomes. With more
than 30 years of experience, we are dedicated to placing highly
qualified nurses and physicians as well as allied health, advanced
practice, clinical research, and case management professionals. We
provide both retained and contingent placement services for physicians,
as well as retained search services for healthcare executives. We have
more than 6,000 active contracts with a broad range of clients,
including acute care hospitals, physician practice groups, nursing
facilities, rehabilitation and sports medicine clinics, government
facilities, as well as nonclinical settings such as homecare and
schools. Through our national staffing teams and network of more than 70
branch office locations, we are able to place clinicians for travel and
per diem assignments, local short-term contracts and permanent
positions. We are a market leader in providing flexible workforce
management solutions, which include managed services programs (MSP),
workforce assessments, internal resource pool consulting and
development, electronic medical record (EMR) transition staffing and
recruitment process outsourcing.
Copies of this and other news releases as well as additional information
about Cross Country Healthcare can be obtained online at www.crosscountryhealthcare.com.
Shareholders and prospective investors can also register to
automatically receive the Company's press releases, SEC filings and
other notices by e-mail.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151102005804/en/
Cross Country Healthcare, Inc.
William J. Grubbs, 561-237-6202
and Chief Executive Officer
Source: Cross Country Healthcare, Inc.
News Provided by Acquire Media