AMN Healthcare Completes the Acquisition of The First String Healthcare
Bolsters Nurse Leadership Staffing and Recruitment Capabilities
Sep 15, 2015
SAN DIEGO, Sept. 15, 2015 /PRNewswire/ -- AMN Healthcare Services, Inc. (NYSE: AHS), the nation's leader and innovator in healthcare workforce solutions and staffing services, today announced the completion of its acquisition of The First String Healthcare, a leading provider of interim staffing and permanent placement of nurse leaders and executives.
"As the long-standing thought leader in nurse staffing and workforce management, AMN Healthcare continually strives to create greater value for our clients and the industry. The First String Healthcare acquisition enhances our capabilities to provide interim and permanent nursing leadership, which is in very high demand as our clients continue changing their care delivery models to improve patient outcomes," said Susan Salka, President and Chief Executive Officer of AMN Healthcare. "The First String Healthcare's CNO Training Academy and mentoring programs also support nurse leadership, further demonstrating AMN's commitment to bringing total talent management solutions to our healthcare clients. We are very excited to have The First String founder and team joining the AMN family."
Lucy Pantoskey, Founder of The First String Healthcare, added, "The driving force behind our success in creating sustainable and successful clinical teams has been our passion to bring great healthcare leaders and clients together. We share a common culture of innovation and integrity with AMN Healthcare, and combined we can deliver even greater value to the evolving healthcare community."
The First String Healthcare acquisition includes cash payments of $6.5 million and an earn-out opportunity of up to $4.0 million based on future performance metrics.
About AMN Healthcare
AMN Healthcare is the leader and innovator in healthcare workforce solutions and staffing services to healthcare facilities across the nation. AMN Healthcare's workforce solutions -- including managed services programs, vendor management systems, recruitment process outsourcing and consulting services -- enable providers to successfully reduce complexity, increase efficiency and improve patient outcomes within the rapidly evolving healthcare environment. The Company provides unparalleled access to the most comprehensive network of quality healthcare professionals through its innovative recruitment strategies and breadth of career opportunities. Clients include acute-care hospitals, community health centers and clinics, physician practice groups, retail and urgent care centers, home health facilities, pharmacies and many other healthcare settings. AMN Healthcare disseminates news and information about the Company through its website, which can be found at www.amnhealthcare.com.
About The First String Healthcare
The First String Healthcare is a leading provider of interim staffing and permanent placement for nurse leaders and executives. The company uses an innovative and personalized approach to interim and permanent nurse management, executive recruitment, nurse leadership development and on-boarding. Based in Irvine, California, The First String Healthcare was founded in 2002 by Lucy and Brad Pantoskey and has served over 250 of the nation's top hospitals.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company based these forward-looking statements on its current expectations, estimates and projections about future events and the industry in which it operates using information currently available to it. Factors that could cause actual results to differ from those implied by the forward-looking statements contained in this press release are set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2014 and its other periodic reports as well as the Company's current and other reports filed from time to time with the Securities and Exchange Commission. Be advised that developments subsequent to this press release are likely to cause these statements to become outdated with the passage of time.
Vice President, Investor Relations
SOURCE AMN Healthcare Services, Inc.