Healthcare Staffing Report: Feb. 20, 2014

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On Assignment physician revenue up 3%

Physician staffing revenue at On Assignment Inc. (NYSE: ASGN) rose 2.9 percent in the fourth quarter to $26.8 million. Fourth-quarter gross margin for physician staffing was 30.2 percent, unchanged from the fourth quarter of 2012.

The Calabasas, Calif.-based firm also announced it closed its acquisition of physician staffing firm Whitaker Medical LLC and the sale of its allied healthcare staffing business.

On Assignment provides information technology and life sciences staffing as well. Fourth-quarter revenue for the company as a whole rose 14.7 percent year over year to $423.6 million. In addition to the sale of its allied division and the acquisition of Whitaker, the company also acquired IT staffing firm CyberCoders. Excluding acquisitions, On Assignment revenue rose 13.1 percent.

The sale of the allied healthcare staffing business did not include On Assignment’s healthcare information management practice, which is now included in its Oxford IT staffing operations.

Fourth-quarter net income at On Assignment rose 128.2 percent to $32.4 million.

Full-year revenue at On Assignment rose 43.4 percent, including acquisitions, to $1.63 billion. Full-year net income rose 98.1 percent to $84.5 million.

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