New York, New York – August 31, 2015 – Tenex Capital Partners, L.P. has closed the sale of portfolio company Medical Solutions, LLC, a leading travel nurse staffing company.
Tenex and co-investors acquired Medical Solutions in June of 2012, and in February of 2013, Medical Solutions acquired On Assignment’s Travel Nursing division. Medical Solutions was founded in 2002.
Medical Solutions, the third largest travel nurse staffing company, places nurses and allied professionals with acute care hospitals and other medical facilities for short and long term assignments. The company has 237 employees supporting over 1,550 average travelers, across 880 medical institutions nationally. Medical Solutions operates out of its headquarters in Omaha, NE, and its 3 additional offices in Cincinnati, OH, San Diego, CA and Tupelo, MS.
“We are pleased to achieve a very successful outcome for all stakeholders”, said Tenex Managing Director Varun Bedi. “During the investment period, the company achieved significant operating efficiencies resulting in historically high margins. Medical Solutions also executed a complicated acquisition of a corporate carve-out, which required transformational change to bring the performance standards up to the level expected of our customers. I am very proud of our team and management for achieving all of this over the course of slightly over three years of ownership.”
About Tenex
Tenex Capital Management is a private equity fund that invests in middle-market companies. Tenex utilizes an in-house team of hybrid investment professionals skilled in operational leadership, investing and capital markets structuring to maximize long-term value creation. Tenex’s deep operating experience allows the firm to collaborate with management teams to capitalize on business and market opportunities. Tenex has established a successful track record investing in diverse industries, including industrials, manufacturing, and health and business services. For additional information, please visit www.tenexcm.com.
About Medical Solutions
Medical Solutions L.L.C. is a healthcare staffing firm that specializes in placing registered nurses in temporary travel assignments throughout the nation. The company is one of the largest Travel Nurse staffing agencies in the United States, with locations in Omaha, San Diego, Cincinnati, and Tupelo, MS. Medical Solutions was one of the first Travel Nursing and Allied Healthcare staffing companies to be certified by the Joint Commission and has been continuously certified since January 2005. Medical Solutions was named one of the top three staffing firms to work for in Staffing Industry Analysts’ 2013 “Best Staffing Firms to Work For,” has been named eight times to the Inc. 5000 list of fastest-growing private companies, and its flagship Omaha office won the 2014 Better Business Bureau Integrity Award. A nationwide network of qualified healthcare providers allows Medical Solutions to help its client hospitals continue to provide excellent patient care amidst a nursing shortage. Medical Solutions has contracts with 1,500+ client hospitals nationwide and is one of the fastest-growing companies in the Travel Nursing industry. For additional information, please visit www.medicalsolutions.com.