AMN Healthcare Services (AHS) Announces Completion of $160M B.E. Smith Acquisition
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AMN Healthcare Services, Inc. (NYSE: AHS), healthcare's leader and innovator in workforce solutions and staffing services, today announced the completion of the acquisition of B.E. Smith for a total purchase price of $160 million. B.E. Smith is a premier, full-service interim leadership and executive search firm serving healthcare clients across all settings including acute care hospitals, academic medical and children's hospitals, physician practices, and post-acute care providers.
"The recruitment expertise and national talent pool of healthcare leaders provided by B.E. Smith brings immediate strategic value to AMN Healthcare's broad portfolio of innovative workforce solutions. Client reaction to our recent announcement has been very positive, particularly as healthcare organizations are faced with the need for key executive and leadership talent to drive transformation across the care continuum," said Susan Salka, President and Chief Executive Officer of AMN Healthcare.
Doug Smith, President and CEO of B.E. Smith, added, "The two companies share a common passion and dedication for delivering differentiated value to the healthcare industry. Talent is of critical importance to healthcare, and we are excited to join AMN Healthcare's prestigious recruitment and workforce solutions brands. Together, we will create even greater value for our clients during this transformational time."
The transaction is immediately accretive to AMN's earnings and is structured to allow AMN to realize tax benefits having an estimated net present value of approximately $25 million. The purchase price is being funded through a combination of term loan borrowings and revolver draws under the Company's credit facility.
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