AMN Healthcare Services has closed two purchases – MedPartners, a mid-revenue cycle firm, and two associated brands in healthcare solutions, Phillips DiPisa and Leaders For Today.
Based in Tampa, Florida, MedPartners offers solutions that help maximise healthcare facilities’ revenue integrity, improve patient care management and support care-quality reporting requirements.
It was purchased for $195m with up to another $20m based on future financial performance.
In fiscal year 2017, MedPartners posted revenue of around $125m with an adjusted EBITDA margin of 16%.
This acquisition is expected to be immediately accretive to AMN’s earnings per share.
AMN Healthcare president and CEO Susan Salka said: “As the leading healthcare workforce provider, we understand the growing need for healthcare facilities to optimise revenue to provide a more effective, quality patient care experience.
“With the acquisition of MedPartners, we can deliver a full range of mid-revenue cycle solutions that include Case Management, Clinical Documentation Improvement (CDI), Medical Coding and Registry Services to our clients and healthcare professionals.
“The combination of Peak Health Solutions and MedPartners positions AMN Healthcare as the leading provider of mid-revenue cycle workforce solutions.”
MedPartners president and co-founder Marci Wilhelm said: “We are proud of the work we have done to move the healthcare industry forward, delivering the highest quality services to our clients and opportunities to our candidates. We are looking forward to bringing our capabilities to AMN Healthcare and expanding the reach of our innovative solutions.”
This purchase was funded through the company’s revolving credit facility. It will be part of the company’s Other Workforce Solutions segment for financial reporting purposes.
Based in Boston, Phillips DiPisa and Leaders For Today provide a range of leadership staffing and permanent placement solutions for the healthcare industry. These brands were acquired for $30m, with potential for an additional $7m based on future financial performance. The deal was funded with cash on hand.
