Cross Country Healthcare, Inc.
Formerly | Cross Country Nurses |
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| Public | |
| Traded as | NASDAQ: CCRN |
| ISIN | 🆔US2274831047 |
| Industry | Staffing Services |
| Founded 📆 | 1986 in Boca Raton, Florida, United States of America |
| Founder 👔 |
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| Headquarters 🏙️ | , Boca Raton, Florida , United States of America |
Area served 🗺️ | |
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| Services |
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| Revenue🤑 |
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| 🌐 Website | crosscountry |
| 📇 Address | |
| 📞 telephone | |
Cross Country Healthcare, Inc., also known as Cross Country, trademarked in 2022, is a publicly traded healthcare, home care and education staffing and workforce technology company headquartered in Boca Raton, Florida.[1]
Founded in 1986 as Cross Country Healthcare Personnel, Cross Country currently provides staffing, advisory and workforce technology services to healthcare, home care and education organizations. As of February 2023, the company’s brands include Cross Country Nurses, Cross Country Allied, Cross Country Medical Staffing Group, Cross Country Workforce Solutions Group, Cross Country Search, Cross Country Locums, Cross Country Education, Cejka Search and CRU48.
Cross Country Healthcare and its above-named brands staff the full spectrum of healthcare, home care and education professionals and executives, including nurses, physicians, advanced practitioners, home caregivers, allied and tech professionals, teachers, and non-clinical staff for travel, per diem, permanent, locum tenens and executive positions.
In 2022, Cross Country Healthcare was listed as the sixth-largest healthcare staffing company in the United States.[2]
Origins and History
Cross Country Nurses, Inc. was founded as Cross Country Healthcare Personnel in 1986 by Kevin Clark, Michelle Clark, Robert Bok and Diane Bok.
In July 1991, the founders sold 47 percent of the company to W.R. Grace & Co. in a negotiation valued at $25 million.[3] During that period, Cross Country Healthcare had a workforce of 140 employees and nurses, and achieved $80 million in revenue.
In 1996, Cross Country underwent further expansion by establishing a joint venture with MRA (Medical Recruiters of America), Inc., a subsidiary of Nestor Healthcare, the leading British healthcare staffing company. By joining forces under the Cross Country Staffing brand, these two companies created the most prominent temporary staffing agency dedicated to serving acute care hospitals and healthcare facilities. Cross Country planned to expand its base of temporary professionals across the United States, and partnering with a British company expanded the range to Canada, Bermuda, and the U.S. Virgin Islands, as well as the United Kingdom.
In a deal underwritten by Merrill Lynch & Co., Cross Country Healthcare priced its initial public offering on The NASDAQ Stock Market.[4]
In July 1999 an affiliate of Charterhouse Group International, Inc (Charterhouse) and certain members of management acquired the assets of Cross Country Staffing from W. R. Grace & Co. and Nestor Healthcare. Upon the closing of this transaction, Cross Country Staffing changed from a partnership to a C corporation form of ownership.
In December 1999, through Carterhouse Groups' connections, Cross Country Staffing acquired TravCorps Corporation (TravCorps), a company that specialized in staffing traveling nurses, which was owned by investment funds managed by Morgan Stanley Dean Witter Private Equity (Morgan Stanley) and certain members of TravCorps’ management and subsequently changed its name to Cross Country TravCorps, Inc. The combined operations enabled Cross Country to better serve medical facility customers by more readily filling temporary healthcare staffing positions from 5,000 nurses. The acquisition included TravCorps' Cejka & Company. Cejka provided physicians and executives with the ability to search for permanent posts with hospitals, physician practice groups, pharmaceutical companies, and insurance companies.
In 2001, Cross Country Healthcare changed its name to Cross Country, Inc., and in October 2001, Cross Country Healthcare completed its initial public offering. Subsequently, in May 2003, Cross Country Healthcare changed its name to Cross Country Healthcare, Inc.[5]
Cross Country Healthcare was the first public company to earn The Joint Commission Gold Seal of Approval® for Health Care Staffing Services Certification with Distinction.[6]
Mergers and Acquisitions
Cross Country Healthcare has been a party to numerous staffing and staffing technology company mergers and acquisitions over the course of its history.
In January 2023, Cross Country acquired Hireup Leadership, Inc., an executive search firm based in Santa Barbara, California.[7]
In October 2022, Cross Country acquired Mint Medical Physician Staffing, LP and Lotus Medical Staffing LLC.[8]
In February 2022, Cross Country acquired Selected, a cloud-based education staffing platform.[9]
In June 2021, Cross Country acquired Workforce Solutions Group, a provider of home health and senior in-home care.[10]
In December 2018, Cross Country acquired American Personnel, Inc., also known as AP Staffing.[11]
In June 2017, Cross Country acquired RN Advantage, one of the largest independent travel nurse businesses in the United States.[12]
In October 2015, Cross Country acquired California based healthcare and education staffing company Mediscan.[13]
In June 2014, Cross Country acquired Medical Staffing Network, a local contract and per diem services company.[14]
In December 2013, Cross Country acquired On Assignment, Inc.’s allied healthcare staffing division (AHG).[15]
In July 2008, Cross Country acquired Medical Doctor Associates, a locum tenens and allied staffing firm based in Norcross, Georgia.[16]
In December 1999, Cross Country acquired TravCorps Corporation.[17]
Annual Nurse Survey
Cross Country Healthcare partners annually with Florida Atlantic University Christine E. Lynn College of Nursing to publish an extensive nationwide survey of nurses to help inform and educate the healthcare industry at large.[18]
References
- ↑ "Company Info Cross Country Healthcare Inc". wsj.com. Wall Street Journal. Retrieved 8 March 2023.
- ↑ "CROSS COUNTRY HEALTHCARE ACQUIRES HEALTHCARE EXECUTIVE SEARCH FIRM HIREUP LEADERSHIP". www2.staffingindustry.com. SIA Staffing Industry Analysts. Retrieved 8 March 2023.
- ↑ FLEISCHER, JOAN. "A HEALTHY SHARE FORTUNE 500 COMPANY BUYS 46 PERCENT OF BOCA RATON FIRM". sun-sentinal.com. South Florida Sun Sentinal. Retrieved 9 March 2023.
- ↑ "Cross Country Sets IPO Pricing". bizjournals.com. South Florida Business Journal. Retrieved 9 March 2023.
- ↑ "ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2009". sec.gov. UNITED STATES SECURITIES AND EXCHANGE COMMISSION. Retrieved 9 March 2023.
- ↑ "Cross Country Healthcare Launches the New CrossCountry.com". businesswire.com. Business Wire. Retrieved 9 March 2023.
- ↑ "CROSS COUNTRY HEALTHCARE ACQUIRES HEALTHCARE EXECUTIVE SEARCH FIRM HIREUP LEADERSHIP". www2.staffingindustry.com. Staffing Industry Analysts. Retrieved 9 March 2023.
- ↑ "Cross Country Healthcare Closes Acquisitions of Mint Medical Physician Staffing, LP and Lotus Medical Staffing LLC". businesswire.com. Business Wire. Retrieved 9 March 2023.
- ↑ "CROSS COUNTRY EDUCATION ACQUIRES TALENT PLATFORM SELECTED". www2.staffingindustry.com. SIA Staffing Industry Analysts. Retrieved 9 March 2023.
- ↑ "Cross Country Healthcare Completes Asset Acquisition of Workforce Solutions Group, Inc. and Secures New $100 Million Financing". businesswire.com. Business Wire. Retrieved 9 March 2023.
- ↑ "CROSS COUNTRY BUYS BOSTON-BASED HEALTHCARE STAFFING FIRM". www2.staffingindustry.com. SIA Staffing Industry Analysts. Retrieved 9 March 2023.
- ↑ "CROSS COUNTRY COMPLETES $88 MILLION ADVANTAGE RN ACQUISITION". www2.staffingindustry.com. SIA Staffing Industry Analysts. Retrieved 10 March 2023.
- ↑ "Cross Country Healthcare Completes Acquisition of Mediscan". businesswire.com. Business Wire. Retrieved 9 March 2023.
- ↑ "Cross Country Healthcare Acquires Medical Staffing Network Holdings". mergr.com. Mergr. Retrieved 9 March 2023.
- ↑ "Cross Country Healthcare Acquires Assets of Allied Healthcare Business". fiercehealthcare.com. Fierce Healthcare. Retrieved 9 March 2023.
- ↑ Merrill, Molly. "Cross Country Health extends healthcare staffing services with $112.3 M acquisition". healthcarefinancenews.com. Healthcare Finance. Retrieved 10 March 2023.
- ↑ "Cross Country Healthcare Revenue and Competitors". growjo.com. Growjo. Retrieved 10 March 2023.
- ↑ Galoustian, Gisele. "NURSES REMAIN PASSIONATE DESPITE HISTORICAL ISSUES IN NEED OF REFORM". fau.edu. Florida Atlantic University. Retrieved 10 March 2023.
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