Knox Lane buys Cross Country Healthcare and separates locums unit

Knox Lane has acquired Cross Country Healthcare Inc., a Boca Raton, Florida company that provides technology-supported healthcare workforce services, PE Hub reported. As part of the transaction, Cross Country Healthcare’s locums division has been acquired by All Star Healthcare Solutions, which PE Hub identified as a Knox Lane portfolio company.

The reported structure separates Cross Country Healthcare’s locums business from the rest of the company under Knox Lane ownership. A carve-out of this kind can place a defined business line with an existing portfolio company, while the buyer holds or develops the remaining operations separately.

PE Hub reported that Kevin C. Clark, Cross Country Healthcare’s co-founder, chief executive and chairman, will retire from his leadership positions. The report also said Tremblay most recently served as president of Medical Solutions.

Cross Country Healthcare is based in Boca Raton and operates in healthcare workforce services, a field tied to hospitals, clinics and other care providers’ staffing requirements. Knox Lane’s acquisition adds another healthcare-related asset to its portfolio, according to the details reported by PE Hub.

No purchase price, financing terms or closing timetable were included in PE Hub’s report. The report did not provide additional details on management appointments beyond Clark’s planned retirement and Tremblay’s most recent role at Medical Solutions.

This story draws on original reporting from PE Hub.