Harris Williams & Co. Advises Healthcare Staffing Services on its Sale to Thomas H. Lee Partners
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Healthcare Staffing Services (HSS) to Thomas H. Lee Partners, L.P. (THL). Harris Williams & Co. served as the advisor to HSS, a portfolio company of Altaris Capital Partners, LLC (Altaris). HSS is a highly differentiated provider of specialized travel nurse staffing solutions addressing hospitals’ most urgent and crucial temporary labor needs. The transaction was led by Turner Bredrup, Cheairs Porter, Andy Dixon and Bill Kayser of Harris Williams & Co.’s Healthcare & Life Sciences (HCLS) Group and Walker Dales of the firm’s Richmond office.
"We are thrilled to have represented HSS and Altaris in this transaction. HSS’ focus on hospitals’ urgent and crucial staffing needs will continue to drive its exceptional growth throughout its partnership with THL," said Turner Bredrup, a managing director at Harris Williams & Co. "The transaction is indicative of the strong interest that we have seen from both strategic and financial acquirers for businesses that provide value across the healthcare spectrum."
Andy Dixon, a director at Harris Williams & Co., added, “HSS is well positioned to capitalize on hospitals’ continued focus on efficiency and quality of care.”
Founded in 1989, HSS provides highly differentiated travel nurse staffing solutions to hospitals. The company’s ability to deliver the right nurse, at the right time, for the right length of time is supported by its Rapid Response® model, focus on hospital efficiency and unique access to highly specialized nurses. Both HSS brands are supported from its Greenwood Village, Colorado headquarters.
Altaris is a private equity firm focused exclusively on the healthcare industry. Managing $1.3 billion of equity capital, Altaris invests in businesses that meet clearly defined healthcare needs and leverages its extensive industry knowledge and relationships to accelerate growth and value appreciation. Altaris is based in New York City.
THL is one of the world's oldest and most experienced private equity firms. The firm invests in growth-oriented businesses, headquartered principally in North America, across three broad sectors: consumer and healthcare, media and information services and business and financial services. Since its founding in 1974, THL has raised over $20 billion of equity capital and invested in more than 130 businesses with an aggregate purchase price of more than $150 billion. THL strives to build great companies of lasting value and generate superior investment returns.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams & Co.’s HCLS Group has experience across a broad range of sectors, including healthcare staffing; outsourced clinical and practice management services; healthcare IT; alternate site care; managed care and cost containment services; medical devices, products and distribution; and outsourced pharma services. For more information on the HCLS Group and other recent transactions, visit the HCLS Group’s section of the Harris Williams & Co. website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.