Private equity firm Clearview Capital acquired Advanced Medical Personnel Services Inc., a provider of allied healthcare travel staffing. The deal was done in partnership with management, and CEO Jennifer Fuicelli will continue to lead management and maintain an ownership share in the company.
“We are excited to partner with them during the next phase of the company’s growth,” said Matt Blevins, principal of Clearview Capital.
“The healthcare staffing industry is benefiting from numerous tailwinds, including an aging population that tends to utilize a greater proportion of healthcare services than the general population, improved access to medical care due to a nationwide expansion in insurance coverage, a shortage of healthcare professionals to meet the rising demand that is being created, and higher turnover within healthcare services due to improved economic conditions,” Blevins said. “All of these factors conspire to create an attractive outlook for healthcare staffing firms, and AMPS will look to play a major role in consolidating the fragmented industry through accretive acquisitions.”
Advanced Medical will use the capital infusion for strategic acquisitions and to make further investments in technology, customer service, and its recruitment programs.
“We are thrilled with our new partnership and excited about the opportunities in front of us,” said Fuicelli. “With their ambitious vision and healthy competitive nature, the Clearview team was a perfect match for our company and its people.”
Advanced Medical has diversified its scope in recent years to include specialty travel nursing and school therapy staffing, which contributed to an estimated 40% growth projection for 2015 following a 35% growth rate in 2014. The company is expanding its operations in both its Denver and Port Orange office locations.
Advanced Medical has corporate offices in Port Orange, Fla., and Denver, with 110 internal employees. It aims to reach $250 million in revenue in four to five years through a combination of organic growth and acquisitions.
