Cross Country Healthcare Inc. (NASD: CCRN) acquired Advantage RN LLC and its subsidiaries, effective July 1.

Cross Country acquired substantially all of the assets of Advantage RN – including affiliates Advantage On Call LLC, Advantage Locums LLC and Advantage RN Local Staffing LLC – for a total purchase price of $88 million, which is subject to a final net working capital adjustment. At closing, the company paid $86.8 million, net of cash acquired, using $19.9 million in available cash and $66.9 million in borrowing under its credit facility, including a $40 million incremental term loan.

The firm announced the deal in June. Advantage founder and CEO Matt Price will remain with the business.

Advantage RN, a West Chester, Ohio-based healthcare staffing provider founded in 2003, deploys many of its nurses through managed service providers and vendor management systems and maintains direct relationships with hospitals. It posted annual revenue of approximately $100 million in 2016. The company ranks No. 14 on Staffing Industry Analysts’ list of largest travel nurse staffing firms and No. 24 on the list of largest healthcare staffing firms overall in the US.

The amount paid at closing was subject to an initial net working capital adjustment of $600,000, and an additional $600,000 was deferred and is due to the seller within 20 months, less any COBRA and healthcare expenses incurred by Cross Country on behalf of the sellers. Based on the total net leverage ratio, the combined interest rate at close is expected to be 3.5%.

Cross Country, based in Boca Raton, Fla., ranks as the third-largest healthcare staffing firm in the US.