On Assignment, Inc. Completes Acquisition of VISTA Staffing Solutions
By Vista Staffing Solutions
November 20, 2007 |
|
On Assignment, Inc. (Nasdaq: ASGN) announced today that it has closed its acquisition of VISTA Staffing Solutions, a privately owned, leading provider of physician staffing, known as locum tenens, and permanent physician search services.
PR9.NET November 20, 2007 - Calabasas, CA - The final purchase price included approximately $41.1 million in cash and an earn-out provision, based on VISTA's 2007 and 2008 performance, which could provide an additional $8 million to VISTA shareholders and option holders over the next two years. VISTA is headquartered in Salt Lake City, UT and works with a pool of more than 1,300 physicians covering approximately 30 medical specialties. On a daily basis, the Company has over 200 physicians on assignment. VISTA provides its staffing solutions in all 50 states and international markets for organizations ranging from large urban hospitals to small practice groups in rural areas. VISTA Chief Executive Officer Mark Brouse and his management team will remain with On Assignment.
Peter Dameris, President and CEO of On Assignment, Inc., said, "This acquisition allows us to participate in the growing $1.2 billion physician staffing business, expand our gross margins and raise our overall hourly bill rates. VISTA has a proven leadership team and a strong brand nationwide. We welcome Mark Brouse and his entire team to On Assignment and look forward to a successful long-term relationship between the two companies."
# # #
 Download PDF Version:
 On Assignment, Inc. Completes Acquisition of VISTA Staffing Solutions
|
PR9.NET
Business
Computers
