Aya Healthcare Acquires Cross Country Healthcare for $615M: Mergers and Acquisitions
Aya Healthcare, a trusted name in healthcare staffing, recently made an exciting announcement—they’ve officially agreed to acquire Cross Country Healthcare for a sizable $615M. This significant move will bring together two major players in the healthcare staffing industry, creating a robust workforce solutions provider with a nationwide presence.
What does this mean for both companies? Well, Aya Healthcare and Cross Country Healthcare each offer unique, technology-driven workforce solutions that cover a wide spectrum of care settings. By joining forces, Aya Healthcare will now be able to enhance its services by including Cross Country’s clinical services in non-clinical environments like schools and homes. This expansion builds upon Aya Healthcare’s existing strengths in travel nursing, allied health, and per diem staffing.
It’s always important to consider leadership during big transitions like this. Rest assured, John A. Martins will remain at the helm as President and CEO of Cross Country post-acquisition. His continued leadership will ensure a smooth integration process and drive ongoing growth and innovation. Plus, Aya Healthcare plans to retain a significant presence in Boca Raton, Florida, where Cross Country is based.
Now, for the nitty-gritty details of the deal. This all-cash transaction values each share of Cross Country at $18.61, a solid premium compared to recent market prices. The acquisition is slated for completion in the first half of 2025, pending regulatory clearances and approval from Cross Country stockholders.
Exciting times ahead for these two healthcare staffing giants as they come together to provide even more comprehensive and top-notch workforce solutions.
