Business Specializes in Travel-Based Nursing Assignments Nationwide
NEW YORK & OMAHA, Neb.–(BUSINESS WIRE)–One Equity Partners (“OEP”), a middle market private equity firm and Prime Time Healthcare (“Prime Time” or “the Company”), a healthcare staffing services provider, today announced that OEP has completed the acquisition of Prime Time. Financial terms of the private transaction were not disclosed.
Founded in 2012 and based in Omaha, Nebraska, Prime Time provides placement services for registered nurses (RNs), licensed practical nurses (LPNs), certified nursing assistants (CNAs) and Allied Health clinicians to approximately 8,500 healthcare facilities across the U.S. The Company specializes in travel nursing, and provides additional services including per-diem nursing, temporary-to-permanent nursing placement, and permanent nursing assignments.
“We are excited to partner with Prime Time’s founders and management who have built an impressive, nationwide platform for healthcare staffing, and a company viewed as a leader in the space,” said Charlie Cole, Principal at One Equity Partners. “We look forward to helping Prime Time grow through complementary acquisitions that will broaden its service offerings and better position Prime Time to serve both its clinicians and customers.”
“Healthcare staffing is a dynamic industry, and we are fortunate to work with a group of highly skilled temporary clinicians. The entire Prime Time team has been essential in allowing us to provide incredible levels of customer service to our temporary clinicians and clients, and I am proud of our company,” said Shawn Roeber, CEO of Prime Time Healthcare. “Our partnership with One Equity will allow us to add service lines and introduce innovative concepts so we can better service healthcare organizations that have been negatively impacted by workforce challenges.
“Increased demand for caregivers is a major challenge for the U.S. healthcare system, a trend which shows no signs of easing given the aging population and the prevalence of chronic conditions among this same population,” said Ron Spencer, co-founder of Prime Time Healthcare. “Helping healthcare facilities and the patients they serve has always been our number one priority. With the help of OEP’s expertise and additional resources, we believe Prime Time can better serve our clients and drive improved patient care by continuing to improve our recruiting and retention, expanding our service offerings and augmenting our technological solutions.”
“After a decade of growing our business organically, we believe this collaboration and partnership with OEP will drive a new leg of growth for Prime Time,” said David Dries, co-founder of Prime Time Healthcare. “OEP’s experience in scaling healthcare businesses through transformational acquisitions will enable us to drive continued growth within the fragmented healthcare staffing industry.”
Coker Capital served as exclusive financial advisor to PrimeTime Healthcare.
About One Equity Partners
One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.
About Prime Time Healthcare
Founded in March 2012, Prime Time Healthcare is a leading provider of contract-based healthcare professionals nationwide. Headquartered in Omaha, Nebraska, Prime Time Healthcare specializes in the placement of RNs, LPNs, CNAs, and assorted therapy practitioners and professionals in facilities across all 50 states. Prime Time Healthcare helps gather the highest-quality healthcare providers and connect them with facilities and patients to help provide top-quality care. Learn more at www.primetimehealthcare.com.