Aya Healthcare has announced its plans to acquire Cross Country Healthcare for approximately $615 million. This acquisition is part of a larger trend of consolidation in the healthcare staffing market.
Aya Healthcare aims to leverage the strengths of both organizations to provide a more comprehensive suite of tech-enabled workforce solutions. The merger will allow Aya to diversify its services and incorporate Cross Country's clinical offerings in nonclinical settings. The strategic combination is expected to enhance the value proposition for clients by integrating advanced technology solutions.
The acquisition will create a more robust platform for healthcare professionals, offering them greater flexibility and access to a wider array of job opportunities. Aya and Cross Country will continue to operate as separate brands while supporting each other's clients. The healthcare industry is experiencing a growing demand for qualified professionals, and this acquisition comes at a time when both companies have been actively pursuing M&A deals to bolster their capabilities.
The completion of the merger is anticipated in the first half of 2025, pending approval from Cross Country's stockholders and regulatory approvals. Once finalized, Cross Country will transition to a private company. The integration of technology and innovative solutions will play a crucial role in addressing the ongoing challenges faced by healthcare providers. The combined strengths of Aya and Cross Country are expected to create a more agile and responsive staffing solution, benefiting healthcare systems, clinicians, and non-clinical professionals.