On April 26, one of Regal Healthcare Capital Partners’ portfolio companies, Oak Healthcare Staffing, announced that it acquired Cunningham Elite Staffing, marking the fourth healthcare staffing deal of the month. The financial terms of the transaction were not disclosed.
Oak Healthcare, a travel nurse staffing firm, ensures clinical oversight and support to each nurse while on-the-job through a dedicated nurse advocacy team. Its seasoned recruiting team identifies and places high-performing nurses in 14 focused areas including the operating room, emergency room, intensive care unit, labor and delivery room and cardiac catheterization labs.
Founded in 2017, Cunningham Elite Staffing provides temporary staffing solutions for RN, LPN and CNA positions in the healthcare industry. It is based in Walla Walla, Washington.
With its recent acquisition of Cunningham Elite Staffing, Oak Healthcare Staffing will expand its travel nurse service to the West Coast. The acquisition also positions the organization to service long-term care facilities and enhance initiatives with certified nursing assistants. Cunningham Elite Staffing will maintain its brand and its employees will join the Oak Healthcare Staffing platform.
Another healthcare staffing deal to occur during the month was Premier Health of America, a leading Canadian health-tech company, acquiring Canadian Health Care Agency for $8.4 million. With this deal. Premier Health of America expands their presence and consolidates the market, which is a rather popular trend across industries.
In addition to Cunningham Elite Staffing being the fourth healthcare staffing deal of the month, it is the 12th healthcare staffing acquisition of 2022. So far, 2022 has remained stable for the subsector as 2021 reported 35 deals over the whole year. 2021 was such an extreme high for so many sectors and subsectors that while the 2022 numbers may appear the same or lower, it does not necessarily mean that investors are cooling their interest in healthcare staffing, but rather almost nothing can compare to last year. Although, it is interesting to note that April 2021 only reported one healthcare staffing transaction, which is a significant divergence from the surrounding months that had four acquisitions.
