CompHealth Group, a Murray-based physician and health staffing services company, has acquired RN Network Inc. of Florida, adding more than 70 jobs and $100 million in annual revenues to the company's books.
Terms of the acquisition, which was finalized on Jan. 29, were not disclosed.
CompHealth Group employs about 800 people at its seven U.S. locations. The company is the parent to several operating businesses: CompHealth; Weatherby Locums, which specializes in physician staffing services; and Destination Healthcare Staffing, an allied health professional staffing company. Last year, CompHealth Group reported combined revenue of more than $400 million.
RN Network employs approximately 70 people at its office in Boca Raton, Fla. In 2003, the company reported more than $100 million in revenue. RN Network specializes in nursing staffing services, which made it an attractive complement to the CompHealth Group portfolio, according to Michael Weinholtz, CompHealth president and chief executive officer.
"This acquisition gives us the most comprehensive and balanced suite of services of any company in the industry," Weinholtz said.
Prior to the acquisition, CompHealth Group's strengths were in physician staffing services and allied health professional staffing services. RN Network provides the missing piece to the puzzle, he said.
"We're now better positioned to offer total staffing solutions to all of our clients," Weinholtz said. "And at a time when hospitals prefer to use fewer staffing companies, this acquisition is important because we can provide more services to them. We're truly a one-stop shop."
Specifically, Weinholtz pointed to RN Network as an attractive acquisition because of its "cultural fit."
"They have a very entrepreneurial organization, like ours, that is focused on growth," he said. "Add to that, they've been one of the top travel nurse companies in the industry for the past three or four years."
Dale West, president of RN Network, will continue to lead the company, which will operate as a division of CompHealth Group.
"RN Network is excited to join a health-care staffing leader like CompHealth Group," West said in a statement released Monday. "Our successful formula will be enhanced by the ability to access additional resources and leverage CompHealth's expansive client base and outstanding reputation."
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