Healthcare Staffing Report: March 5, 2015

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Accountable completes equity raise, plans acquisitions

Accountable Healthcare Holdings Corp., a Boca Raton, Fla.-based healthcare staffing provider, completed its fifth round equity raise. The raise consisted of Series A convertible preferred shares. Investors included shareholders that participated in prior rounds, new participants and members of Accountable’s board and senior management.

The company since launching three years ago has raised $30 million of investor capital in five rounds, with an average raise of $6 million. It also recently entered into a $20 million credit facility with JP Morgan Chase.

The recent funding will be used for mergers and acquisitions, specifically in the travel nurse space. The company expects to sign letters of intent on two new deals which would close mid to late second quarter, according to Eddie Albert, executive VP, investor relations and director of mergers and acquisitions.

Accountable Healthcare operates about 40 offices throughout the US and in December completed its 12th acquisition with the asset purchase of Sagent Healthcare Services.