Healthcare Staffing Report: June 8, 2017

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Fusion Healthcare Staffing gets equity financing investment, new chairman steps in

Fusion Healthcare Staffing LLC secured strategic equity financing from brothers Paul and Gregory Sorensen to continue its growth in the locum tenens staffing market. The transaction closed May 31 and terms were not disclosed.

In connection with the equity financing, Fusion expanded its board of directors to include Gregory Sorensen, who has been appointed as board chairman.

Paul Sorensen, who joined Fusion Healthcare’s board in October as chairman, will remain on the board. He formerly served as president of The Select Family of Companies, which merged with EmployBridge in 2015. He left Select and EmployBridge last year.

Gregory Sorensen is a neuroradiologist who has served as president and CEO of Siemens Healthcare North America; he previously carried out research at Massachusetts General Hospital and was a professor of radiology at Harvard Medical School.

Fusion provides locum tenens emergency medicine, hospitalist and psychiatrist physicians. Founded in 2013, the company has a nationwide footprint and 25 internal employees at its Utah headquarters. Annual revenue for 2016 totaled approximately $15 million.