Stat Nurses International Receives $1.2 Million in Venture Funding From Enhanced Capital Partners
Current Shortage of Registered Nurses (RNs) Provides Stat Nurses With Major
ENGLEWOOD, Colo., Aug. 31 /PRNewswire/ -- Enhanced Capital Partners, a national investment firm specializing in state-specific investments, today announced it provided $1.2 million in venture funding to Stat Nurses International, a leading travel nurse agency. The funding, structured as a combination of equity and senior subordinated debt, will capitalize on Stat Nurses' efforts to improve the current nursing shortage of registered nurses (RNs) by increasing their national employee staffing, as well as recruiting nurses from oversees and training the nurses to United States standards. Stat Nurses works with hospitals to provide them with experienced, temporary nurses. According to the U.S. Department of Labor, one million new and replacement nurses will be needed for U.S. hospitals, nursing homes, clinics, insurance companies and other employers by 2012. Without the use of travel nurses to supplement their full-time staff, some hospitals are canceling non-urgent surgeries, closing beds or units, diverting emergency room patients, and at times are unable to admit new patients. Staffing services are critical to health care facilities across the nation in the midst of the current shortage. Stat Nurses provides attractive employment options for nurses by offering work assignments from one day up to three years, competitive wages and a comprehensive benefits package. Nurses can travel to different cities and receive furnished housing when they work in cities outside their own. Stat Nurses also offers low-cost medical and dental insurance, liability insurance, paid time off and education reimbursement. "Our primary goal is to maintain a large database of well trained nurses to fill most hospital needs, while still being able to provide personalized service," said Terry White, CEO of Stat Nurses International. "To help put an end to the current nursing shortage, we will use this funding to significantly increase our labor force by recruiting nurses from both the United States and abroad. Also, since foreign-trained nurses account only for about 4% of registered nurses in the United States, this opens up a tremendous opportunity for us." According to the American Medical Association, a declining number of new nurses entering the workforce, the inability to retain nurses in hospitals, and nurses retiring or leaving the workforce early are all contributing factors to the registered nurse shortage in the United States. This shortage is projected to continue and will become critical after the year 2010 when 75 million baby boomers begin to retire and there is a greater need for health services. In addition, a 2002 American Medical Association study found that in hospitals with high patient-to-nurse ratios nurses are more likely to experience burnout and job dissatisfaction. "In order to help hospitals put an end to nurse burnout and maintain good standards of patient care, hospitals need to hire travel nurses both domestic and foreign to fill the staffing gaps and preserve their high patient care standards," said Pat Heilig, RN, president and founder of Stat Nurses International. "This investment expands the opportunity for my nursing colleagues to serve in many U.S. locations, benefiting both the nation's hospitals and the patients in their care." "We chose to fund Stat Nurses International because we believe there is a huge market potential for nurse staffing," said David Orlandella, managing director of Enhanced Capital Partners. "This financing will help them grow their staffing workforce quickly and efficiently. Stat Nurses is committed to fulfilling a serious deficit in the health services industry and we are pleased to play a part in helping hospitals fill their nursing needs." About Enhanced Capital Partners Enhanced Capital Partners, LLC, formed in 1999, is a national investment firm specializing in state-specific investments in small and emerging companies with its private investment funds. Enhanced Capital seeks to achieve capital appreciation while adhering to a mandate tailored for a local investment approach. The company's goal is to promote the growth and expansion of small businesses while attaining significant returns for its investors by mentoring and leveraging additional private equity for its portfolio companies through its partnerships. The company has established investment funds in Colorado, Louisiana, New York, and Alabama and is currently seeking investment opportunities in those states. Enhanced Capital is in the process of establishing new investment funds in Texas and Washington, D.C. For more information about Enhanced Capital Partners, visit www.enhancedcapital.net. About Stat Nurses International Stat Nurses International, formed in October 2000, is a nurse owned and operated travel nurse agency. As one of the fastest growing companies in the field of travel nursing and healthcare staffing, the company provides licensed, experienced nurses to hospitals in the Western United States. Nursing assignments range from one day up to three years with the choice of assignment and location made by the nurse. For more information about Stat Nurses International, visit http://www.statnursesintl.com/. For further information, please contact Ali Heine of GroundFloor Media, +1-303-907-4797, firstname.lastname@example.org, for Enhanced Capital Partners.
SOURCE Enhanced Capital Partners
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