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Anscor acquires Cirrus Medical Staffing

January 29 2008

A Soriano Corp. (Anscor), a publicly traded firm listed in the Philippines, acquired Cirrus Medical Staffing, a Charlotte NC-based provider of travel nurses and allied healthcare staffing. Cirrus will be a sister company to Medtivia (formerly known as IQHPC), a Houston-based healthcare staffing firm owned by Anscor that provides nurses from the Philippines. Anscor is paying approximately $14 million in a cash deal for Cirrus. In addition, Cirrus President Greg Allen and his management team will remain with the company.

"We believe the long-term trends of the U.S. nurse travel market are very positive," said Anscor Chairman and CEO Andres Soriano. "There will always be a need for the type of quality, cost effective, and dependable staffing solutions that Cirrus provides."

Eric Bing, managing director of Medtivia, said Cirrus will continue on as its own company but it and Medtivia will work together to take advantage of the synergies between the two firms.

Anscor is continuing to look for additional acquisition opportunities in the healthcare staffing sector, Bing said.

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