Cross Country Healthcare to be Acquired by Aya Healthcare in a $615 Million Deal

Cross Country Healthcare, Inc. (NASDAQ: CCRN) has recently announced a significant event in its corporate history. On December 4, 2024, Cross Country Healthcare entered into an Agreement and Plan of Merger with Aya Holdings II Inc., a Delaware corporation, along with other entities. As per this agreement, Aya Holdings II Inc., through one of its wholly-owned subsidiaries, will merge with Cross Country Healthcare, with Cross Country surviving as a wholly-owned subsidiary of Aya.

The Merger Agreement outlines the terms of the merger, which include the conversion of each share of Cross Country Healthcare’s common stock into the right to receive $18.61 in cash at the Effective Time of the Merger. Additionally, various aspects relating to stock awards, delisting securities, and the termination of the agreement if certain conditions are not met are also detailed in the filing with the Securities and Exchange Commission (SEC).

The merger between Cross Country Healthcare and Aya Healthcare is subject to approval by Cross Country’s stockholders and the satisfaction of customary closing conditions, as well as regulatory approvals. If the merger is finalized, Cross Country Healthcare’s common stock will no longer be listed on the NASDAQ.

In response to this acquisition, a joint press release was issued by Cross Country Healthcare and Aya Healthcare, highlighting the strategic alignment between the two organizations. The acquisition aims to enhance service offerings, leveraging the strengths of both companies to provide innovative solutions and exceptional service in the healthcare industry.

The completion of this transaction is expected in the first half of 2025, and it is not subject to a financing condition. Cross Country’s Board of Directors has unanimously approved the Merger Agreement and will be recommending its approval to the stockholders at a Special Meeting of Stockholders in the near future.

Financial and legal advisory services for this transaction are being provided by BofA Securities, Inc. and Davis Polk & Wardwell LLP, respectively.

The full details of the Merger Agreement and the transactions involved can be accessed through the SEC filing, which provides comprehensive information about this significant development in Cross Country Healthcare’s corporate journey.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Cross Country Healthcare’s 8K filing here.

About Cross Country Healthcare

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company’s Nurse and Allied Staffing segment provides traditional staffing, recruiting, and value-added total talent solutions, including temporary and permanent placement of travel and local nurse and, allied professionals; temporary placement of healthcare leaders within nursing, allied, physician, and human resources; vendor neutral and managed services programs; education healthcare services; in-home care services; and outsourcing services.