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AMN buys Platinum Select

February 19 2008

AMN Healthcare Services Inc. (NYSE: AHS) said Feb. 15 it acquired Platinum Select LP, a Dallas-based provider of travel nurse and allied healthcare staffing. AMN President and CEO Susan Nowakowski said AMN already ranks as the largest provider of nurse and physician staffing in the United States and the Platinum Select buy will make it the largest provider of travel allied healthcare staffing.

AMN will pay up to $50.2 million in cash, which includes an initial payment and potential earn-out based on 2008 performance. The acquisition will add to AMN's 2008 earnings.

Platinum Select posted revenue of $52.9 million in 2007. Staffing Industry Analysts ranked it as the 18th-fastest growing staffing firm in the country in 2007.

"This addition to AMN Healthcare fits perfectly with our strategy of continuing to expand our service offering to our clients and offers our healthcare professionals the largest selection of assignments across the country," Nowakowski said.

Platinum Select will continue to operate under its own brand name and remain based in Dallas with its team of approximately 115 people.

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