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TrueBlue enters healthcare staffing market with acquisition

TrueBlue enters healthcare staffing market with acquisition

Craig Johnson
| February 4, 2025

Main article

TrueBlue (NYSE: TBI), the fifth-largest US industrial staffing firm, is entering the healthcare staffing market with the acquisition of Healthcare Staffing Professionals.

The deal closed Jan. 31.

Healthcare Staffing Professionals, or HSP, is based in Reseda, California, with operations across the US. Its staffing lines include travel nurse, allied healthcare and behavioral health. HSP focuses on state and local government entities such as public health departments, correctional institutions and education systems.

“Today marks a key milestone in advancing TrueBlue’s strategic priority to expand in high-growth end markets,” Taryn Owen, president and CEO of TrueBlue, said in a press release.

“HSP’s healthcare staffing expertise and fast-growing roster of long-term clients combined with our expansive footprint, technology and recruitment agility will allow us to realize significant expansion and revenue opportunities in the market while also diversifying our business,” Owen said.

She also noted that healthcare offers attractive long-term opportunities with an aging US population and secular growth.

HSP ranked No. 24 on SIA’s most-recent Fastest-Growing Staffing Firms list.

“We’re thrilled to join forces with TrueBlue to greatly expand our opportunities and build on the rapid growth we’ve experienced,” Maxie Juzang, CEO and president of HSP, said in a press release.

HSP will continue operating under its current brand. Terms of the transaction were not announced.

“This accretive and synergistic acquisition enhances TrueBlue’s growth profile,” TrueBlue CFO Carl Schweihs said in a press release.

“Leveraging our strong balance sheet, we were able to take on a modest amount of debt with favorable terms to capitalize on this strategic opportunity at an attractive multiple,” Schweihs continued.

TrueBlue plans to release more information on the deal in its earnings announcement later this month.