Cross Country Healthcare Acquires Workforce Solutions Group, Inc.
June 8, 2021
Cross Country Healthcare, Inc. completed an asset acquisition of Workforce Solutions Group, Inc. (WSG) effective June 8, 2021, paying $25.0 million in cash and $5.0 million in stock with up to $15.0 million in earn-out consideration. The deal was financed in part by a new $100.0 million second-lien term loan and brings WSG's home‑care and managed‑service capabilities into Cross Country's workforce solutions portfolio; Blackstone also entered Cross Country's capital structure to support the company's acquisition strategy.
- Buyers
- Cross Country Healthcare, Inc., Blackstone
- Targets
- Workforce Solutions Group, Inc.
- Sellers
- Pamela Jung (Founder and CEO) and other Workforce Solutions Group shareholders
- Industry
- Healthcare Services
- Location
- California, United States
- Transaction Type
- Buyout
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