UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549


FORM 8-K


CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) September 1, 2015


GRAPHIC


Cross Country Healthcare, Inc.
(Exact name of registrant as specified in its charter)


Delaware 0-33169 13-4066229

(State or Other Jurisdiction
of Incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)


6551 Park of Commerce Blvd., N.W., Boca Raton, FL 33487
(Address of Principal Executive Office) (Zip Code)

(561) 998-2232
(Registrant’s telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


ITEM 8.01      Other Events

Incorporated by reference is a press release issued by the Company on September 1, 2015 and attached hereto as Exhibit 99.1.  This information is being furnished under Item 8.01 and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of such section.

Item 9.01       Financial Statements and Exhibits

(d) Exhibits

  Exhibit   Description
 

99.1

Press Release issued by the Company on September 1, 2015


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

CROSS COUNTRY HEALTHCARE, INC.

 
 

 

By:

/s/ William Burns

 

William Burns

 

Chief Financial Officer

 

Dated:

September 1, 2015

Exhibit 99.1

Cross Country Healthcare Completes the Sale of its Education Business

BOCA RATON, Fla.--(BUSINESS WIRE)--September 1, 2015--Cross Country Healthcare, Inc. (Nasdaq: CCRN), a national leader in providing staffing, recruiting and leading-edge healthcare workforce solutions, announced today that it has completed the previously announced sale of its Education Business, Cross Country Education, LLC, to PESI, Inc. for an aggregate purchase price of $8.0 million, plus potential consideration of $0.5 million. Cross Country Education provides in-person seminars to healthcare professionals and was non-core to the Company’s business. The Company intends to use the net proceeds from the transaction to finance further investments for revenue growth including future acquisitions, to implement and finance its strategic objectives, to reduce debt and for general business purposes.

The Company revised its guidance range for the quarter to reflect the impact of the divestiture. No other assumptions were modified or updated.

                       

Range

 
Revenue $190 - $195 million
 
Gross Profit Margin 24.9% - 25.4%
 
Adjusted EBITDA 4.2% – 4.7%
 
Adjusted EPS $0.10 - $0.12
 

About Cross Country Healthcare

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.

CONTACT:
Cross Country Healthcare, Inc.
William J. Grubbs, 561-237-6202
President and Chief Executive Officer
wgrubbs@crosscountry.com