Advantage RN has announced plans to acquire TeamStaff Rx, a travel nursing and allied healthcare subsidiary, from parent company TeamStaff, Inc., a provider of healthcare and logistical staffing services.
The all-cash purchase is expected to close Jan. 4, 2010.
“We feel that the industry knowledge, management talent and existing hospital relationships at TeamStaff Rx will complement our internal team at Advantage RN to meet the industry challenges of 2010 and continue our strong historical growth rate as the U.S. economy improves,” said Mathew Price, Advantage RN's president and CEO.
Advantage RN is a Joint Commission-certified travel nurse staffing company providing RNs and surgical technicians to hospitals for eight- to 13-plus-week travel assignments. Established in 2003 and headquartered in Cincinnati, the company currently has hundreds of nurses on staff in all specialty areas and a retention rate averaging 76 percent.
TeamStaff, based in Somerset, N.J., plans to use the sales proceeds to help fund the development and expansion of its government solutions business, said Rick J. Filippelli, the company's president and CEO.