Healthcare Staffing Report: Dec. 4, 2014

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Accountable acquires Massachusetts-based healthcare staffing firm

Accountable Healthcare Staffing Inc. acquired Sagent Healthstaff LLC, its 12th acquisition to date. Wellesley, Mass.-based Sagent places registered nurses and other healthcare professionals throughout the Northeast and California.

The transaction closed today; terms were not disclosed.

Sagent will transition to the Accountable brand within the next 90 days. All office staff will remain in their current roles; however, Owner and CEO G. Drew Conway will not join Accountable.

“AHS welcomes the Sagent office staff, field HCPs and clients to our team,” said Chairman and CEO Robert Adamson. “The Sagent acquisition fits our strategy of growing our nationwide Travel Nurse division from both organic internal growth and M&A activity.”

Accountable has raised more than $30 million in capital in less than three years; it plans this year to bring on board a private equity firm to invest a similar amount, according to Eddie Albert, director of mergers and acquisitions at Accountable.

“With the private equity money we are looking for a travel nurse acquisition with significant critical mass,” Albert said. “We’re looking for a company with annual revenue north of $50 million a year.”

The time frame for the acquisition is the late second quarter or early third quarter and the company has several candidates in mind, Albert said.

AHS has offices in 18 states and ranks No. 14 on Staffing Industry Analysts’ list of largest healthcare staffing firms in the US.