Q1-2019 Healthcare Staffing Update
In the first quarter of 2019, M&A transaction volume was relatively quiet in the staffing sector as consolidators work to integrate acquisitions made over the last 18 months. A common theme throughout the healthcare staffing marketplace has been the interest in locums tenens businesses, both as platforms and add-on acquisitions, to diversify an established healthcare staffing service mix. The acquisition of Onyx M.D. by Health Carousel marks the fifth locums tenens-focused acquisition in the last twelve months and is a sign of staffing players looking to diversify operations to drive stability of earnings in a macroeconomic environment that has been growing for nearly a decade.
Provident expects the remainder of 2019 to include multiple new private equity platform investments as well as strategic add-on acquisitions into service lines such as locum tenens, among others.
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