PE-backed Ingenovis Health acquires healthcare travel staffing firm Springboard

Ingenovis Health is a provider of healthcare talent solutions in the U.S.

  • Springboard will be led by Catherine Pearson, who has been appointed executive vice president and general manager
  • Citizens M&A Advisory is acting as financial advisor to Springboard on the deal
  • Cornell Capital was founded in 2013 by Senior Partner Henry Cornell, the former vice chairman of Goldman Sachs’ merchant banking division

Ingenovis Health Inc, which is backed by Cornell Capital and Trilantic North America, has acquired Phoenix-based Springboard Healthcare, a healthcare travel staffing and education company specializing in cardiovascular medicine. No financial terms were disclosed.

Ingenovis Health is a provider of healthcare talent solutions in the U.S. Its family of brands includes Trustaff, Fastaff, U.S. Nursing, HealthCare Support, CardioSolution, and VISTA Staffing Solutions.

Springboard Healthcare was founded in 2002. Moving forward, Springboard will be led by Catherine Pearson, who has been appointed executive vice president and general manager. Pearson previously served as chief operating officer and general counsel at Springboard.

The transaction is Ingenovis’ third in the past 12 months, following its acquisitions of HealthCare Support, a provider of clinical and non-clinical allied staffing services, and VISTA Staffing Solutions, a provider of physician staffing services.

“The acquisition of Springboard is another milestone in the long-term strategy of Ingenovis Health to further scale and grow through both strategic acquisitions and high-impact organic initiatives,” said Stephen Trevor, a partner at Cornell Capital in a statement.

Citizens Bank, N.A. and KeyBanc Capital Markets are acting as joint lead arrangers for the transaction. Davis Polk & Wardwell LLP is acting as legal advisor to Ingenovis, Cornell Capital and Trilantic North America. Citizens M&A Advisory is acting as financial advisor to Springboard, and Dinsmore & Shohl LLP is acting as legal advisor.

Cornell Capital was founded in 2013 by Senior Partner Henry Cornell, the former vice chairman of Goldman Sachs’ merchant banking division.

Trilantic North America targets the business services and consumer sectors.