Gen Cap America Inc said March 12 that it acquired CoreMedical Group. Financial terms weren’t announced. Management also invested. CoreMed, based in Manchester, New Hampshire, is a healthcare staffing and recruiting agency specializing in travel and permanent placement for nurses, allied health professionals and physicians.
Nashville, Tenn., March 12, 2018 – Gen Cap America, Inc. announced today that it has sponsored a buyout of CoreMedical Group (“CoreMed”) in partnership with management. Terms of the transaction were not disclosed.
CoreMed, based in Manchester, New Hampshire, is a leading healthcare staffing and recruiting agency specializing in travel and permanent placement for nurses, allied health professionals and physicians. With more than 25 years of experience, CoreMed recruits medical professionals and provides staffing solutions to hospitals and healthcare providers in all 50 states.
Chris Godwin, Managing Director at Gen Cap America stated, “We are excited to have the opportunity to invest in CoreMed alongside the management team. CoreMed is an excellent platform in an area with great demand – skilled medical staffing – and leverages our niche of partnering with go forward management to facilitate and navigate an ownership transition.”
The CoreMed management team will be led by Aram Hampoian, who assumed the role of CEO upon close. Aram has been with CoreMed since 2004.
Aram Hampoian commented on the transaction: “This partnership with Gen Cap America represents a new and exciting phase in the continued development of our business and will open new avenues of opportunity for CoreMedical Group.”
Gen Cap America’s other investments in the medical space include Alpha Technics and Advantage Medical Professionals.
“Core fits perfectly with Gen Cap’s investment model of backing management teams at companies with long histories of success,” Barney Byrd, CEO of Gen Cap, commented.
About Gen Cap America
Gen Cap America, Inc. is a Nashville-based private equity firm that provides equity for management buyouts, division spinoffs, and recapitalizations of profitable, well-established lower middle market businesses. For more information, visit www.gencapamerica.com.
About Core Medical Group
CoreMedical Group is a leading healthcare staffing and recruiting agency that brings more than 25 years of experience to the placement of traveling nurses (RN, LPN), traveling therapists (PT, OT, SLP), permanent nurses (RN, staff and management levels), and physicians (MD, Locum Tenens). CoreMed recruits medical professionals and provides staffing solutions to hospitals and healthcare providers in all 50 states. For more information, visit www.coremedicalgroup.com.