COMPHEALTH OF S.L. HAS NEW OWNERS, EXPANSION PLAN
CompHealth Inc., one of the country's largest medical staffing companies, has announced it has spun off from its parent company.A trio of private equity firms bought the company from HealthSouth Corp, which will maintain a minority interest. Terms of the sale have not been disclosed.
CompHealth is the largest provider of temporary physician staffing services in the country, with a pool of more than 1,000 doctors, therapists and other health professionals. The Salt Lake company, which had revenues of $124 million last year, plans to expand by buying up nurse staffing companies, said president and CEO Michael Weinholz.
"This move will give CompHealth increased visibility, flexibility and opportunity for growth, particularly through acquisitions," Weinholz said.
CompHealth's new owners are Nassau Capital, a private equity investment firm based in Princeton, N.J., and the venture capital funds New Enterprise Associates and Acacia Venture Partners.
HealthSouth is the nation's largest provider of outpatient surgery and rehabilitative health care, with more than 2,000 locations in all 50 states and the United Kingdom.
DIGITAL COURIER TECHNOLOGIES AGREES TO ACQUIRE DATABANK
Dow Jones News
PARK CITY -- Digital Courier Technologies Inc. said Wednesday it agreed to acquire DataBank International SKB, a credit card transaction processing firm, in a deal valued at more than $50 million.
Digital Courier said it will issue 12 million common shares to acquire Databank's outstanding shares.
The company said it will issue up to 10 million additional shares if DataBank's profits exceed $8 million in the first year and $12 million in the second year.
DataBank's income for an eight-month period in 1998 was $2.3 million, on revenue of $4.2 million, the company said.
Digital Courier, a Salt Lake-based developer of electronic-commerce software, had 1998 revenues of $803,011.
S.L. LAW FIRM OFFERS SEMINAR ON EMPLOYMENT LAW APRIL 7
Parsons Behle & Latimer is sponsoring its 11th annual Employment Law Seminar on Wednesday, April 7, at the Marriott Park Hotel at Research Park in Salt Lake City.
The seminar is designed to provide information about the latest developments in employment law to human resource managers, employment lawyers and business owners or managers.
Cost of the half-day seminar is $75. For more information, call 536-6816.