What's the deal: Knox Lane is acquiring Cross Country Healthcare in a $437 million all-cash transaction that will take the company private. The price: Shareholders will receive $13.25 per share, a 31 percent premium to the May 6 closing price and a 45 percent premium to the 90-day average. Why it matters: The move delists CCRN from Nasdaq, providing a significant cash payout to investors and reflecting consolidation in the healthcare staffing industry.
Cross Country Healthcare (NASDAQ: CCRN) has agreed to be acquired by investment firm Knox Lane in an all-cash transaction valued at $437 million, a deal that offers a significant premium to shareholders and will take the healthcare staffing company private.
"We are excited to be working with Knox Lane, who brings significant and direct expertise in our sector to help Cross Country Healthcare enter its next phase of growth," Kevin Clark, Co-Founder and CEO of Cross Country Healthcare, said.
The agreement stipulates that Knox Lane will purchase all outstanding shares of Cross Country Healthcare for $13.25 each. The price represents a 31 percent premium to the company's closing stock price on May 6, 2026, and a 45 percent premium to its 90-day volume-weighted average price. The transaction is expected to be finalized in the third quarter of 2026, pending shareholder and regulatory approvals.
Upon completion, Cross Country Healthcare will be delisted from the Nasdaq exchange, becoming a privately held entity within Knox Lane's portfolio. The acquisition provides an immediate cash return to stockholders and signals continued investor interest and consolidation within the technology-driven healthcare workforce solutions sector. BofA Securities is advising Cross Country Healthcare, while MTS Health Partners is advising Knox Lane.
The acquisition allows Cross Country Healthcare to leverage Knox Lane's experience in the sector to build on its technology platform and customer relationships. "Cross Country Healthcare is a longstanding leader and innovator in healthcare workforce solutions, with an unparalleled focus on delivering clinical excellence," said John Bailey and Shamik Patel, partners at Knox Lane. The firm plans to apply its strategic focus to enhance the company's growth. Cross Country will continue to operate under its existing brand.
Cross Country Healthcare, Inc. is a technology-driven healthcare workforce solutions company that provides an AI-powered digital platform for labor management, backed by 40 years of industry expertise.
Knox Lane is a San Francisco-based, growth-oriented investment firm that partners with companies to accelerate growth, employing an investor-operator mindset to support business development, digital transformation, and strategic acquisitions.
This article is for informational purposes only and does not constitute investment advice.
