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AMN Healthcare to Acquire Onward Healthcare, Locum Leaders, Medefis.

MANews-(C)2009-2014

18 December 2014 - US-based healthcare workforce solutions and staffing services company AMN Healthcare Services, Inc. (NYSE: AHS) has inked agreement to acquire US-based healthcare and technology workforce solutions holding company Onward Healthcare, Locum Leaders and Medefis from OGH, LLC for a total purchase price of USD 82.5m, the company said.

The acquisition is expected to be accretive to AMN's earnings in 2015, and will be funded out of cash on hand and borrowings under the company's existing revolving credit facility, it said.

OGH, LLC includes nurse and allied healthcare staffing firm Onward Healthcare, national locum tenens provider Locum Leaders and SaaS-based vendor management system provider Medefis.

The 2014 projected consolidated revenue for the three companies is USD 112m, with anticipated EBITDA of approximately USD 10m, AMN said. The acquisition, subject to regulatory approvals and customary closing conditions, is expected to close by mid-January 2015.

OGH, LLC is majority owned by Welsh, Carson, Anderson and Stowe, a private equity firm. Robert W. Baird served as the exclusive financial advisor to OGH, LLC on this transaction.

Country: USA

Sector:

Target: Onward Healthcare, Locum Leaders and Medefis

Buyer: AMN Healthcare Services, Inc

Deal size in USD: 82.5m

Type: Corporate acquisition

Financing: Cash

Status: Agreed

Buyer advisor: , ,

Comment:

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Publication:M & A Navigator
Date:Dec 18, 2014
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