Healthcare Staffing Report: July 20, 2017

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Mitsui acquires Accountable Healthcare Staffing

Tokyo-based investment firm Mitsui & Co. Ltd. acquired Accountable Healthcare Staffing, a Boca Raton, Fla.-based healthcare staffing provider that ranks No. 15 on Staffing Industry Analysts’ list of largest healthcare staffing firms in the US.

The transaction closed July 14; Terms were not disclosed.

Accountable Healthcare will operate as a wholly owned subsidiary of Mitsui; the Accountable Healthcare brand will remain and executives will stay with the firm in their current roles.

Mitsui is becoming a 100% owner of Accountable Healthcare in the transaction. The investment firm said it has identified healthcare as one of the key growth areas to establish the investment firm’s next profit pillar and aims to build a sustainable healthcare ecosystem in the overseas markets.

With the acquisition of Accountable, Mitsui has created a structure capable of supplying a wide range of human resource services for healthcare providers, including physicians, therapists, and nurses, on a temporary or permanent basis throughout the United States.

Mitsui in 2014 acquired The Delta Companies, which ranks No. 24 on Staffing Industry Analysts’ list of largest healthcare staffing firms in the US and eighth on the list of largest locum tenens firms in the US.

“Accountable will be a great extension to the platform we have established so far, and represents a strategically compelling opportunity for Mitsui to position itself to provide full suite of healthcare workforce solutions to our healthcare clients in the US and abroad,” said Seiki (Stan) Hirota, chairman of the board, UHS Partners Inc., which is a subsidiary formed by Mitsui.

Accountable made more than 10 acquisitions since launching in 2012. It now has 28 locations and approximately $143 million in net sales in 2016.

“In the five years since Accountable was formed, by focusing on quality and innovation, we have rapidly grown into one of the largest healthcare staffing companies in the United States,” said Accountable CEO Kevin Little. “Combining forces with Mitsui will open many new doors, which will enable Accountable to continue to grow and prosper. This is an exciting new chapter for Accountable and its employees, and we are thrilled to be joining Mitsui’s network of companies.”

Accountable Healthcare Staffing is second start-up for Director of M&A Eddie Albert, Executive Chairman Robert Adamson and current CEO Kevin Little; they also previously founded Medical Staffing Network, which was then acquired Warburg Pincus in 2001.