Nursefinders Inc., a Gryphon Investors’ portfolio company, today announced that it has acquired Boca Raton, FL-based Club Staffing. Gryphon Investors is a private equity firm based in San Francisco, CA. Club Staffing, founded in 1999, has grown to become the leading independent allied health staffing company in the U.S., providing rehabilitation, radiology, respiratory, pharmacy, and laboratory professionals to over 1,000 health care facilities across the country. Terms of the transaction were not disclosed.
As a result of the transaction, Nursefinders, Inc. is now one of the nation’s largest private health care staffing organizations with approximately $300 million in revenues and over 110 offices across the U.S. It offers a highly complementary suite of services including allied health, nursing and locum tenens physician placement, and is the country’s largest provider of vendor managed services (VMS) to the health care industry. Nursefinders, Inc.’s subsidiaries will continue to operate under three separate brands:
Club Staffing, the country’s leading independent allied health staffing company
Nursefinders, one of the largest nurse staffing companies with approximately 100 offices nationwide
Linde Healthcare/Kendall and Davis, a rapidly-growing supplier of locum tenens (contract physicians) and physician recruitment services.
Club Staffing Chief Executive Officer Larry Kraska will continue in his role at Club Staffing and report to Ray Marcy, executive chairman of Nursefinders, Inc. Marcy also served as CEO for Spherion Corporation from 1991-2001. “I am extremely excited to join the impressive group of senior managers that exists in each of our sister companies, including Ray Marcy, a true visionary and staffing industry leader,” said Kraska. “We couldn’t have found a better scenario for Club Staffing in terms of cultural fit, complementary candidate skills and the opportunity to expand in the growing VMS arena. As a result of this transaction, we will be able to offer clients more comprehensive services and candidates more abundant career opportunities.”
Marcy added, “We are incredibly impressed with Larry Kraska and his fine management team. Adding allied health expertise to our portfolio of services is a crucial part of our plan to build a comprehensive national health care staffing firm. We now have important positions in nursing, physicians and allied health. While we will continue to offer these services independently, based on client need, we also find that a growing number of health care customers are interested in better managing their entire contingent staffing spend. We are in an excellent position to offer these clients comprehensive workforce solutions.” Gryphon Investors and Marcy have worked jointly since 2003 in pursuing investment opportunities in professional staffing. Together with Kaiser Permanente, America’s leading integrated health care organization, Gryphon and Marcy acquired Nursefinders, Inc. in 2004 and Linde Healthcare/Kendall and Davis in 2005.
“Nursefinders’ acquisition of Club Staffing greatly furthers our efforts with Ray Marcy to build the leading U.S. provider of health care staffing services,” said Nick Orum, Gryphon Partner and head of its Business Services Group. “We believe Larry Kraska and his executive team at Club Staffing have forged an excellent presence in the allied space. With well-established brands like Club Staffing, Nursefinders and Linde, Gryphon will continue to actively pursue additional investment opportunities to further expand our health care staffing presence.”
About Club Staffing
Founded in 1999, Club Staffing is one of the nation’s largest providers of travelling allied health care professionals. The company is based in Boca Raton, FL and specializes in finding highly qualified candidates in diagnostic imaging, rehab therapy, respiratory therapy, lab, and pharmacy, for temporary and long-term assignments with health care organizations across the country. Visit www.clubstaffing.com.
About Nursefinders, Inc.
Nursefinders, Inc., based in Arlington, TX, provides nursing and physician placement services through its Nursefinders and Linde Healthcare/Kendall and Jackson brands. Through a network of more than 110 offices, it serves hospitals, outpatient centers, assisted living and other health care facilities nationwide. The company places more than 14,000 health care professionals in long and short-term health care assignments each year. Nursefinders’ Patient Care Division provides home health services for all age groups from newborn care to senior living services. Visit www.nursefinders.com.
About Gryphon Investors
Based in San Francisco, Gryphon Investors focuses on leveraged acquisitions of, and growth investments in, middle-market companies in partnership with experienced management. Having managed more than $1 billion of discretionary equity capital, Gryphon has an extensive track record of investing $25 to $75 million of its own capital in companies with sales ranging from $25 to $250 million. Gryphon prioritizes investment opportunities where it can form proactive partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, professional resources and significant financial and operational expertise. Visit www.gryphoninvestors.com for more information.