What You Should Know:
– Aya Healthcare, a provider of healthcare staffing solutions, has announced a definitive agreement to acquire Cross Country Healthcare for approximately $615M.
– The strategic acquisition will combine two of the largest healthcare staffing companies, creating a comprehensive workforce solutions provider with a nationwide reach.
Expanding Services and Expertise
Aya Healthcare and Cross Country Healthcare offer complementary, tech-enabled workforce solutions across the continuum of care. This acquisition will diversify Aya’s offerings to include Cross Country’s clinical services in non-clinical settings, such as schools and homes, in addition to its existing expertise in travel nursing, allied health, and per diem staffing.
Leadership and Integration
Following the acquisition, John A. Martins will continue to serve as President and CEO of Cross Country, ensuring a seamless transition and driving continued growth and innovation. Aya Healthcare plans to maintain a significant presence in Boca Raton, Florida, where Cross Country is headquartered.
Transaction Details
The all-cash transaction values Cross Country at $18.61 per share, representing a significant premium to its recent closing price. The acquisition is expected to be finalized in the first half of 2025, subject to regulatory approvals and approval by Cross Country stockholders.
