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TeamStaff Inc. (NASD: TSTF) sold its Nursing Innovations division to St. Louis-based healthcare staffing firm Temps Inc. Terms of the deal were not announced, although the deal is expected to close Thursday. Nursing Innovations, based in Memphis TN, provided per diem healthcare staffing services.
"This divestiture represents the execution of a previously discussed strategic goal to sell our per diem business unit and focus on our core business of travel and government staffing," said TeamStaff President and CEO Rick Filippelli. "We plan to use the sales proceeds to fund the growth of our core business."
According to Temps Inc. President and CEO Todd Kane, "The acquisition of Nursing Innovations is evidence of our desire to grow both organically and through strategic acquisitions." He added, "I expect that we will continue to seek acquisitions where they make sense and add value and breadth to our organization."