Company Overview
American HealthCare Capital is pleased to introduce a nationwide healthcare staffing agency for sale. Established over two decades ago, their primary focus is on travel contracts for RNs, LVNs, LPNs, CNAs, and Techs. The company achieved Joint Commission Certification as a premier Healthcare Staffing Agency and has earned the reputation of being one of the most trusted and dedicated Healthcare Staffing Agencies in the industry, with staff that is in compliance 100% of the time.
Financial Overview
The company has seen dramatic growth over the past few years, averaging a 121% increase each year since 2019. They went from $4.8 million in gross revenues in 2019, to $10 million in 2020, to over $25.5 million in 2021. In 2022, gross revenues were nearly $51 million with an adjusted EBITDA of $11.44 million (22%). The sellers attribute the continued increase in profitability to the switch from VMS/MSP contracts to direct contracts with Long Term Care and Skilled Nursing Facilities, which produce higher margins.
In 2023, the company is seeing a decline similar to what many other staffing agencies have also experienced due to the continued normalization of rates and demand post-pandemic. They ended the year at $30,348,707 with an adjusted EBITDA of $5,239,185 (17%). However, the sellers feel that there is ample room for growth and continue to pursue additional contracts. They expect to see 10% growth in 2024, and they are being contacted several times per week by new facilities looking to engage in their services. A new owner could continue to build upon their direct contracts and capitalize on existing VMS/MSP contracts.
Staff Overview
The staff is expected to stay on under new ownership, and the seller will assist during a transitional period.
Asking Price
The seller is seeking a valuation in the 6x EBITDA range plus a potential earn-out.
