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AMN Healthcare Services: Amn Healthcare To Acquire B.E. Smith

The following excerpt is from the company's SEC filing.

Expands Leadership Position in Healthcare Workforce Solutions

PRNewswire

/ AMN Healthcare Services, Inc. (NYSE: AHS), the nations leading innovator in healthcare workforce solutions and staffing services, today announced a definitive agreement to acquire B.E. Smith, the leading provider of interim healthcare leadership, executive search and advisory services for $160 million in cash. Upon closing, the acquisition is expected to be immediately accretive to AMNs GAAP and adjusted earnings per share.

Founded in 1978, B.E. Smith is a premier, full-service he althcare interim leadership placement and executive search firm. For nearly a decade, the firm has been recognized each year by Modern Healthcare as one of the Top Executive Search Firms. The firm places interim leaders and executives across all healthcare settings, including acute care hospitals, academic medical and childrens hospitals, physician practices, and post-acute care providers. The firm is currently generating annualized revenue of approximately $100 million with an adjusted EBITDA margin of 15%.

With increased demand and the evolution of new care delivery models, healthcare clients are faced with the critical challenge of recruiting the key executives and talent needed to lead the dramatic transformation their organizations are experiencing. The added strength of B.E. Smiths recruitment expertise and nationwide talent pool of healthcare leaders and executives further increases the strategic value that AMN Healthcare delivers to clients through our breadth of innovative workforce solutions, said Susan Salka, President and Chief Executive Officer of AMN Healthcare.

Doug Smith, President and CEO of...


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