BOCA RATON, Fla., June 2, 2014 /PRNewswire/ -- Medical Staffing Network Healthcare, LLC ("MSN") today announced it has entered into a definitive agreement whereby Cross Country Healthcare, Inc. will acquire substantially all of the assets and business of Medical Staffing Network and assume certain operating liabilities of MSN.
"I am confident that the combination of our two companies is a strong, strategic fit that will better position us to deliver expanded service offerings to our clients and healthcare professionals," said Dr. Brian Poplin, President and CEO of Medical Staffing Network. "Both companies have complementary cultures and values that will provide growth opportunities for our team members. We look forward to the combined company serving as a leader in the healthcare staffing industry."
Consummation of the transaction is subject to customary closing conditions. It is anticipated that the Closing will occur before the end of June 2014.
Houlihan Lokey and Deloitte CRG served as financial advisors for the acquisition and King & Spalding LLP served as legal advisor to Medical Staffing Network Healthcare, LLC.
About Cross Country Healthcare
Cross Country Healthcare, Inc., headquartered in Boca Raton, Florida, is a national leader in providing healthcare staffing and workforce management solutions. Their traditional staffing includes temporary and permanent placement of travel nurses and allied professionals, branch-based local nurses and allied staffing, and locum tenens physicians. Cross Country provides flexible workforce management solutions to the healthcare market through diversified offerings meeting the special needs of each client. In addition to traditional staffing, they offer managed service programs (MSP), workforce assessments, internal resource pool consulting and development, electronic medical record (EMR) transition staffing, and recruitment process outsourcing services. They have approximately 3,000 active contracts with government and commercial hospitals and healthcare facilities, and other healthcare organizations throughout the U.S. to provide our staffing services and workforce solutions. They also provide physician and executive search services as well as education and training programs for healthcare professionals. Cross Country Healthcare employs approximately 1,100 corporate employees and utilizes on average 2,420 field employees and 1,640 independent contractors.
About Medical Staffing Network Healthcare, LLC
Medical Staffing Network is one of the largest and most recognized national providers of healthcare staffing and workforce solutions that balance quality patient care with cost-savings. With more than 30 years of experience, MSN's offerings streamline and optimize the patient care continuum from recruitment and onboarding to intake and case management. As a comprehensive healthcare staffing company, MSN provides nursing, allied healthcare, pharmacy, clinical research, anesthesia, advanced practice and case management professionals through a network of 60+ locations and traveler solutions.
Contact: Cheryl Rhody
SOURCE Medical Staffing Network Healthcare, LLC