Ingenovis Health acquires healthcare staffing company
Ingenovis Health, a tech-enabled platform for healthcare staffing, has acquired another healthcare staffing platform, HealthCare Support.
Ingenovis is backed by private investment firms Cornell Capital and Trilantic North America and was formed by a combination of trustaff, CardioSolution, Fastaff Travel Nursing, U.S. Nursing Corporation and Stella.ai. It is one of the fastest-growing providers of healthcare staffing, according to the announcement. HealthCare Support, based in Orlando, Florida, was founded in 2003 and has since grown into one of the largest allied healthcare staffing companies in the country.
The acquisition comes as Ingenovis is still in growth mode through both acquisitions and organic growth.
"The acquisition of HSS will further enhance and diversify the Ingenovis platform as we execute our targeted acquisitive growth strategy," Stephen Trevor, partner of Cornell Capital, and Jeremy Lynch, partner of Trilantic North America, said in a statement. "HSS has been a consistent outperformer with its client-centric business model and scalable, cloud-based technology infrastructure. Together, the combined business is well positioned to continue capturing market share and driving greater impact for clients across the healthcare industry."
The deal also comes as the healthcare industry faces a labor shortage in a tight workforce environment. The COVID-19 pandemic has strained the availability of eligible healthcare workers and influenced many to quit the industry altogether.
"This is a pivotal time for the healthcare industry, and we see tremendous growth opportunities in joining forces with Ingenovis to enhance its leadership in healthcare staffing," said Chris Abel, President of HealthCare Support.
The acquisition is expected to close in the first quarter of 2022, subject to regulatory approvals and other customary closing conditions.
Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."