One Equity Partners acquires healthcare staffing firm Prime Time Healthcare
One Equity Partners, a private equity firm based in New York, has acquired Prime Time Healthcare, an Omaha, Nebraska-based healthcare staffing firm.
Prime Time provides placement services for registered nurses, licensed practical nurses, certified nursing assistants and Allied Health clinicians to roughly 8,500 healthcare facilities across the United States.
While financial terms of the deal were not disclosed, the deal comes at a time when the healthcare industry is facing a workforce challenge, with huge demand for labor and rising costs for providers. The COVID-19 pandemic has worsened the labor shortage, with more healthcare professionals planning to depart from their roles over the next few years than before the pandemic.
Prime Time, founded in 2012, also specializes in placing travel nurses, which have skyrocketed in demand since the onset of the pandemic. The huge demand has forced healthcare providers to increase wages and benefits to fill open roles for COVID-specific travel nurses and other specialties. Prime Time also provides additional services, including per-diem nursing, temporary-to-permanent nursing placement and permanent nursing assignments.
“Increased demand for caregivers is a major challenge for the U.S. healthcare system, a trend which shows no signs of easing given the aging population and the prevalence of chronic conditions among this same population,” Ron Spencer, co-founder of Prime Time Healthcare, said in a statement. “Helping healthcare facilities and the patients they serve has always been our number one priority. With the help of OEP’s expertise and additional resources, we believe Prime Time can better serve our clients and drive improved patient care by continuing to improve our recruiting and retention, expanding our service offerings and augmenting our technological solutions.”
One Equity Partners is focused on the industrial, healthcare and technology sectors in North America and Europe. The firm has completed more than 300 transactions worldwide since 2001.
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."