Aya & Cross Country: A Powerful Healthcare Synergy

Aya Healthcare's decision to acquire Cross Country Healthcare for approximately $615 million in cash is set to create a powerful synergy between two leading tech-enabled healthcare workforce solutions providers. This strategic move, announced on December 3, 2024, combines the strengths of Aya's travel nursing and allied health services with Cross Country's clinical expertise in non-clinical settings like schools and homes. The all-cash transaction represents a 67% premium to Cross Country's closing price on December 3, 2024, reflecting the significant value Aya sees in this acquisition.

The combined entity will leverage complementary technologies and data analytics tools to optimize staffing assignments and reduce costs. By merging their tech-enabled platforms, Aya and Cross Country will benefit from a wider range of services and a more extensive candidate pool. This integration will enable better assignment matching, enhanced client experiences, and improved clinical outcomes. The combined company will also offer a full suite of market-leading technology, including a seamless solution for vendor management, float pool technology, provider services, and predictive analytics.



The acquisition will also create immediate stockholder value for Cross Country, as shareholders will receive $18.61 per share, a nearly 67% premium. This transaction is expected to close in the first half of 2025, subject to stockholder and regulatory approvals. Upon completion, Cross Country will become a private company, and its common stock will no longer trade on the NASDAQ.

The combined company will operate as separate brands, with Aya maintaining a significant presence in Boca Raton, FL. Alan Braynin, President and CEO of Aya, expressed his excitement about the combination: "By combining our strengths, resources, and unwavering commitment to delivering best-in-class talent solutions, we are uniquely positioned to offer enhanced value to our healthcare systems, schools, clinicians, and non-clinical professionals."



In conclusion, Aya Healthcare's acquisition of Cross Country Healthcare is a strategic move that will create synergies and enhance service offerings. By combining their complementary tech-enabled workforce solutions, the combined company will offer a full suite of market-leading technology, provide clinicians and non-clinical professionals with greater flexibility and convenience, and create immediate stockholder value for Cross Country. As the healthcare industry continues to evolve, this acquisition positions Aya to remain a leader in tech-enabled workforce solutions, driving innovation and exceptional patient care.