Nolan Advised Lotus Medical Staffing on its Sale to Cross Country Healthcare, Inc.

DATE: October 03, 2022

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Who is Our Client?

  • Mint Physician Staffing and Lotus Medical are locum tenens staffing agencies that have placed thousands of highly qualified physicians, nurse practitioners, and physician assistants in positions throughout the country.
  • Mint specializes in temporary hospitalist, emergency medicine, radiology, urgent care, occupational medicine, primary care, and telemedicine assignments.
  • Lotus specializes in temporary anesthesiology and CRNA assignments.
  • Mint is one of only seven Joint Commission certified locum tenens agencies in the United States, and Mint and Lotus are long-time members of the National Association of Locum Tenens Organizations (NALTO).

Why Did Lotus Medical Hire Nolan?

  • After purchasing Mint in 2008 and launching Lotus in 2013, the ownership group sought a buyer or investor capable of providing a liquidity event for the Companies and enabling rapid growth.
  • Ownership hired Nolan to run a sale process for Mint and Lotus because of Nolan’s track record of success in the locum tenens industry.

What Value Did Nolan Deliver?

  • Cross Country Healthcare, Inc. (Nasdaq: CCRN) is a market-leading, tech-enabled workforce solutions platform with 36 years of healthcare staffing industry experience and insight.
  • “We are pleased to have Mint join the Cross Country team as we continue to build our locum tenens platform,” said John A. Martins, President and Chief Executive Officer of Cross Country Healthcare. He continued, “Their wealth of expertise will help support the growing demand we have seen in the rapidly evolving locum tenens landscape.”
  • The Mint acquisition allows Cross Country Healthcare to deepen client relationships and gain access to additional clinicians.
  • Stuart McKelvey, President, Mint Physician Staffing, Cofi Jordan, President, Lotus Medical and the entire Mint and Lotus workforces have joined Cross Country Locums to enable rapid growth for the combined entities.

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