Thomas H. Lee Partners LP said Wednesday that it has acquired a majority stake in Healthcare Staffing Services via a recapitalization. Financial terms weren’t announced. Altaris Capital Partners was the seller. Healthcare Staffing provides healthcare staffing including traveling nurses.
BOSTON & DENVER–(BUSINESS WIRE)–Thomas H. Lee Partners, L.P. (“THL”), a leading private equity firm, announced today that it has closed the acquisition of a majority stake in Healthcare Staffing Services (“HSS” or the “Company”), in a recapitalization transaction. Terms of the transaction were not disclosed.
HSS is a leading healthcare staffing firm in the United States. It specializes in providing nationwide “rapid response” nurse staffing services to healthcare facilities that have urgent needs for qualified nurses, generally for multiple weeks at a time.
The recapitalization will ensure HSS has the resources it needs to build on its proven platform, continue its strong momentum, and execute on its strategic growth objectives. HSS will also draw heavily from THL’s extensive experience in the healthcare space to further extend its leadership in the rapid response nurse staffing industry. The Company will retain its corporate headquarters in Denver, CO.
“With this investment we will have the scale and resources to accelerate our growth and further expand our platform,” said Ray Marcy, Executive Chairman of HSS. “As we continue to evaluate and pursue new opportunities, both strategic and organic, we are very excited to be partnering with THL – a firm with a long and distinguished track record of helping companies grow and succeed in the healthcare space. As the healthcare industry continues to evolve, HSS’ unique nurse staffing services model is helping hospitals address one of their major issues in ensuring the delivery of quality care – a shortage of well-qualified nurses.”
“Since 1989, HSS has steadily grown into a leader in providing world-class healthcare staffing services through its unique and distinguished Rapid Response℠ travel nurse staffing model,” said Allison Beer, Chief Executive Officer of HSS. “I am proud to work with our highly talented and experienced management team, which is deeply committed to continuing our strong growth as more and more hospitals recognize the need for the ‘just in time’ deployment of specialized nurses that HSS is uniquely positioned to deliver.”
“We are very excited to be partnering with HSS, a clear market leader in the nursing industry,” said Joshua Nelson, Managing Director at Thomas H. Lee Partners. “We are looking forward to working closely with Ray and Allison and the talented management team at HSS to further enhance its leadership position and capture this growing opportunity.”
About Thomas H. Lee Partners
Thomas H. Lee Partners, L.P. (“THL”) is one of the world’s oldest and most experienced private equity firms. The firm invests in growth-oriented businesses, headquartered principally in North America, across three broad sectors: Consumer & Healthcare, Media & Information Services, and Business & Financial Services. Since its founding in 1974, THL has raised over $20 billion of equity capital and invested in more than 130 businesses with an aggregate purchase price of more than $150 billion. THL strives to build great companies of lasting value and generate superior investment returns. For more information, please visit www.thl.com.
About Healthcare Staffing Services
Healthcare Staffing Services (HSS) is a complete healthcare staffing solution with expertise in supplying travel nurses on an urgent and crucial basis throughout the United States. Since 1989, the subsidiary companies of HSS have been providing quality healthcare services and professionals to facilities across the nation.