CHICAGO, March 23, 2023 /PRNewswire/ — Waud Capital Partners (Waud Capital), in partnership with experienced healthcare executives Bales Nelson and Allen Dye, today announced the establishment of a new platform company, Fusion Health. Fusion Health will provide clinical staffing services to healthcare facilities, providers, and health plans, solving a variety of episodic clinical resource needs through technology-enabled solutions. Mr. Nelson and Mr. Dye have extensive experience building companies at the intersection of technology and healthcare staffing, having previously served as either founders or executive leaders of CenseoHealth (now SignifyHealth), THMed (now Curative, a Doximity brand), Merritt Hawkins and AMN Healthcare.
Mr. Nelson will serve as Chief Executive Officer of Fusion Health, and Mr. Dye will serve as President.
Mr. Nelson commented, “Allen and I are excited to be taking the next step in our partnership with Waud Capital. We share a vision of the compelling market opportunity that exists for Fusion Health. Together, we believe that we will create a leading platform delivering innovative service offerings to address complex clinical staffing needs for customers across the healthcare continuum.”
Chris Graber, Partner at Waud Capital, added, “Bales and Allen have an impressive track record of innovation and value creation in healthcare staffing. We believe this partnership brings together the expertise and resources required to build the next differentiated healthcare services platform. Today’s announcement reflects Waud Capital’s ability to match talented executives with attractive market entry points through our direct outreach and transaction execution capabilities.”
In connection with the formation of Fusion Health, the company acquired a majority stake in Fusion Healthcare Staffing, a leading provider of locum tenens staffing services to hospitals and healthcare providers across the U.S. Fusion Healthcare Staffing is the first operating subsidiary of Fusion Health. Fusion Health will pursue a growth strategy that leverages both organic and acquisition-based approaches to launch additional technology-enabled, staffing-based solutions to healthcare customers, including health plans, hospitals, post-acute and ambulatory facilities, physician practices, and home-based providers.
In acquiring Fusion Healthcare Staffing, Fusion Health is partnering with the company’s three owners, Jarin Dana, Rob Gleason, and Dan Westenskow, who will all remain in leadership positions at the company. Dan Westenskow, co-founder and CEO of Fusion Healthcare Staffing, stated, “My partners and I are incredibly excited to be partnering with the Waud Capital, Bales, and Allen team to grow our business and build a dynamic new platform in Fusion Health. Their team brings a unique strategic plan, deep operational expertise, and an extensive network of value-added relationships that will enable us to sustain our momentum by expanding our capabilities.”
This platform is the latest addition to Waud Capital’s strong portfolio of healthcare, HCIT, and technology-enabled investments, including Integrated Practice Solutions (specialty EHR and practice management software), Sphere (healthcare payments and technology), HSI (software and technology-enabled workplace safety training), Pharmacy Partners (infusion management services), and Concierge Home Care (home-based care services), among others.
About Waud Capital Partners
Based in Chicago, Waud Capital Partners is a leading growth-oriented private equity firm with total capital commitments of approximately $4.0 billion since its founding in 1993. WCP seeks to partner with strong management teams to build market-leading companies within two industries: healthcare services and software/technology. Since its founding, Waud Capital has successfully completed more than 400 investments, including platform companies and follow-on opportunities. For additional information on Waud Capital, visit www.waudcapital.com.
