Cross Country Healthcare, Inc.

Cross Country Healthcare is one of the largest health care staffing firms in the US. Under several brands, the company places traveling nurses and other health care professionals through about 4,200 contracts with acute care hospitals, pharmaceutical companies, nursing homes, schools, and other related facilities across the nation. The firm coordinates travel and housing arrangements for its nurses, whose assignments usually last about three months at a time. Cross Country also provides health care education, training, and recruiting services for doctors and health care executives. Subsidiaries and brands include Assignment America, Allied Health Group, NovaPro, Med-Staff, TravCorps, and Cejka Search.

Geographic Reach

The company's nurse staffing services business segment is headquartered in Boca Raton, Florida. Its travel staffing business has operation centers in Florida, Georgia, Massachusetts, and Pennsylvania. The company's clinical trial services segment is headquartered in Durham, North Carolina.

Its Cross Country Education (CCE) subsidiary is headquartered in Brentwood, Tennessee while its Cejka Search subsidiary is headquartered in Creve Coeur, Missouri.

Operations

The company operates through four reportable segments: nurse and allied staffing, physician staffing, clinical trial services, and other human capital management services.

Cross Country's nurse and allied staffing business segment represented about 55% of the company's revenue during fiscal 2011 while its physician staffing business segment accounted for almost 25%.

The clinical trial services business segment brought in about 13% of total revenue during fiscal 2011. Cross Country moved to divest its clinical trial segment during 2013.

Financial Analysis

The company's revenue increased by 7.6% during fiscal year 2011 as compared to its fiscal 2010 revenue. The increase can be attributed to higher revenue from the company's nurse and allied staffing segment and higher revenue from its clinical trial services staffing business segment.

Prior to the increase in revenue during fiscal 2011, Cross Country's total revenue had been slumping in recent years.

Strategy

Cross Country is counting on its diverse portfolio of services and its strong relationships with hospitals all over the country to sustain itself until the conditions of the broader labor market improve.

Before the recession, Cross Country was expanding through acquisitions. The company wants to grow by focusing on making strategic acquisitions in high growth, high margin businesses and by seeking additional MSP contracts and EMR engagements with hospitals and health systems.

To focus on core markets, in 2013 Cross Country agreed to sell its clinical trial services division to contract research firm ICON for some $52 million.

Ownership

Third Avenue Management LLC, Wells Fargo & Company, Royce & Associates, LLC each own 11%, 10%, and 10% of the company respectively.

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Cross Country Healthcare, Inc.


6551 Park Of Commerce Blvd
Boca Raton, FL 33487-8218
Phone: 1 (561) 998-2232
Fax: 1 (561) 9988533
www.crosscountryhealthcare.com

STATS


  • Employer Type: Public
  • Stock Symbol: CCRN,
  • Stock Exchange: , NASDAQ
  • President, Cross Country Staffing: Vickie Anenberg
  • Chief Executive Officer; Director: Joseph Boshart
  • Chief Financial Officer: Emil Hensel

Major Office Locations

  • Boca Raton, FL

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