Aya Healthcare to Acquire Cross Country Healthcare for $615 Million in Cash

Aya Healthcare entered a merger agreement on December 4, 2024, to acquire Cross Country Healthcare, Inc. (CCRN) for $615 million in cash.

Deal Structure:

Under the terms of the agreement, Aya will acquire Cross Country for $18.61 per share in cash, representing a premium of 66.76% from the stock’s last closing price.

Company Profile:

Cross Country is a tech-enabled workforce solutions and advisory firm specializing in talent management and staffing services for healthcare clients across the U.S., including nurses, allied professionals, and physicians.

Aya Healthcare is the largest healthcare talent software and staffing company in the U.S., offering AI-driven staffing solutions and digital marketplaces to streamline hiring for travel nursing, allied health, locum tenens, and others while supporting clients with superior efficiency and outcomes.

Deal Details and Timeline:

“Aya and Cross Country will operate as separate brands, supporting each other’s clients with increased access to candidates while expanding assignment opportunities for clinicians,” said Aya’s CEO Alan Braynin.

John A. Martins will continue to serve as President and Chief Executive Officer of Cross Country after the merger is completed, which is expected to close in the first half of 2025.

Upon completing the transaction, Cross Country will go private, and Aya plans to grow in Boca Raton, Florida, where Cross Country is based.

The purchase price paid by Aya for Cross Country is 9.91 times its EBITDA.

Deal Metrics:

For more detailed information on this M&A transaction, please visit the Deal Metrics page here:

Deal Metrics for the acquisition of Cross Country Healthcare, Inc. (CCRN) by Aya Healthcare

The Deal Metrics page for each merger or acquisition includes:

• A spread history chart of the merger from announcement to completion or failure.
• A timeline of events as the merger progresses, including the HSR period, various regulatory approvals, shareholder votes, etc.
• Access to news and SEC filings.
• A history of deal updates.
• And much more.

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Editor’s Note: Baranjot Kaur contributed to this article