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Cross Country completes MDA deal

September 10 2008

Cross Country Healthcare Inc. (NASD: CCRN), a Boca Raton-based healthcare staffing firm, said Tuesday it completed the acquisition of Medical Doctor Associates (MDA), a Norcross GA-based firm that provides locum tenens and allied health staffing.

In the deal, Cross Country will pay $112.3 million in cash plus additional earn-out payments based on 2008 and 2009 performance, and the deal is subject to a working capital adjustment. The acquisition will add two cents per diluted share to Cross Country's 2008 earnings.

MDA had revenue of $158.0 million in 2007.

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