SAN DIEGO, Jan. 4, 2016 /PRNewswire/ -- AMN Healthcare
Services, Inc. (NYSE: AHS), healthcare's leader and innovator in
workforce solutions and staffing services, today announced the
completion of the acquisition of B.E.
Smith for a total purchase price of $160 million. B.E. Smith is a premier,
full-service interim leadership and executive search firm serving
healthcare clients across all settings including acute care
hospitals, academic medical and children's hospitals, physician
practices, and post-acute care providers.
"The recruitment expertise and national talent pool of
healthcare leaders provided by B.E.
Smith brings immediate strategic value to AMN Healthcare's
broad portfolio of innovative workforce solutions. Client reaction
to our recent announcement has been very positive, particularly as
healthcare organizations are faced with the need for key executive
and leadership talent to drive transformation across the care
continuum," said Susan Salka,
President and Chief Executive Officer of AMN Healthcare.
Doug Smith, President and CEO of
B.E. Smith, added, "The two
companies share a common passion and dedication for delivering
differentiated value to the healthcare industry. Talent is of
critical importance to healthcare, and we are excited to join AMN
Healthcare's prestigious recruitment and workforce solutions
brands. Together, we will create even greater value for our clients
during this transformational time."
The transaction is immediately accretive to AMN's earnings and
is structured to allow AMN to realize tax benefits having an
estimated net present value of approximately $25 million. The purchase price is being funded
through a combination of term loan borrowings and revolver draws
under the Company's credit facility.
About AMN Healthcare
AMN Healthcare is the leader and
innovator in healthcare workforce solutions and staffing services
to healthcare facilities across the nation. AMN Healthcare's
workforce solutions - including managed services programs, vendor
management systems, recruitment process outsourcing and consulting
services - enable providers to successfully reduce complexity,
increase efficiency and improve patient outcomes within the rapidly
evolving healthcare environment. The Company provides unparalleled
access to the most comprehensive network of quality healthcare
professionals through its innovative recruitment strategies and
breadth of career opportunities. Clients include acute-care
hospitals, community health centers and clinics, physician practice
groups, retail and urgent care centers, home health facilities, and
many other healthcare settings. AMN Healthcare disseminates news
and information about the Company through its website, which can be
found at www.amnhealthcare.com.
About B.E. Smith
Founded in 1978, B.E. Smith is a full-service healthcare
executive search firm and one of the top-ranked providers of
senior-level leadership services including Interim Leadership,
Executive Search and Advisory Services. Veteran healthcare
recruiters and regional healthcare experts partner with each client
to create customized solutions. B.E.
Smith's proven methodology has resulted in the recent
placement of more than 1,000 leaders into healthcare organizations
worldwide. The firm utilizes a comprehensive sourcing strategy
incorporating the latest marketing techniques, association
partnerships, social networking and one of the largest databases of
skilled senior-level healthcare executives in the industry to
deliver immediate results in today's complex healthcare
environment. For more information, visit www.besmith.com or call
855-296-6318.
Forward-Looking Statements
This press release contains
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The Company based
these forward-looking statements on its current expectations,
estimates and projections about future events and the industry in
which it operates using information currently available to it.
Factors that could cause actual results to differ from those
implied by the forward-looking statements contained in this press
release are set forth in the Company's Annual Report on Form 10-K
for the year ended December 31, 2014 and its other
periodic reports as well as the Company's current and other reports
filed from time to time with the Securities and Exchange
Commission. Be advised that developments subsequent to this press
release are likely to cause these statements to become outdated
with the passage of time.
Contact:
Jim Gogek
Media & Corporate Communications
858.350.3209
jim.gogek@amnhealthcare.com
Amy Chang
Vice President of Investor Relations
866.861.3229
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SOURCE AMN Healthcare Services, Inc.