Diversifies Healthcare Talent Solutions with Addition of Leading Cardiovascular Specialty Staffing and Education Business
Builds on Long-Term Growth Strategy
GREENWOOD VILLAGE, Colo. & PHOENIX–(BUSINESS WIRE)–Ingenovis Health, Inc. (“Ingenovis” or “the Company”), a leading technology-enabled healthcare talent provider backed by private investment firms Cornell Capital and Trilantic North America, today announced that it has acquired Springboard Healthcare (“Springboard”), a leading healthcare travel staffing and education company specializing in cardiovascular medicine. Financial terms of the transaction were not disclosed.
Ingenovis Health is a top-five provider of healthcare talent solutions in the U.S., and its family of brands includes Trustaff, Fastaff, U.S. Nursing, HealthCare Support, CardioSolution, and VISTA Staffing Solutions. The Company is committed to building a home for healthcare talent by offering technology-driven tools and resources clinicians need to grow, thrive, and advance in their careers. Ingenovis Health’s goal is reducing industry-wide clinician attrition and attracting new talent.
Founded in 2002, Springboard Healthcare works to provide the nation’s top organizations and healthcare systems with skilled clinicians, along with crucial cardiovascular care training through its education platform. Springboard specializes in the sourcing and placement of highly qualified nurses and allied professionals in cardiac catheterization labs, electrophysiology labs, and interventional radiology suites around the country, providing both short- and long-term critical care coverage. Springboard will remain headquartered in Phoenix, Arizona, and be led by Catherine Pearson, who has been appointed Executive Vice President and General Manager. Pearson previously served as Chief Operating Officer and General Counsel at Springboard.
“We are thrilled to welcome Springboard to the Ingenovis Health family,” said Bart Valdez, Chief Executive Officer at Ingenovis Health. “Gavin, Catherine, and team have built a tremendous value proposition as a highly specialized service provider, and the addition of Springboard strengthens Ingenovis’ portfolio of category-leading workforce solution providers. We are poised to create a more diverse array of job opportunities and services for healthcare clinicians and providers.”
“Springboard has a 20-year history of providing highly skilled, specialized clinicians to the nation’s top organizations and healthcare systems and an industry-leading education platform to elevate cardiovascular care training,” said Gavin Hays, Founder of Springboard Healthcare. “I am confident the team will continue to build on the Springboard legacy as part of the Ingenovis Health family.”
“We are excited to leverage the resources and partnership of Ingenovis Health to pursue strategic growth opportunities and help address the critical demand for travel nurses and allied professionals,” Pearson added.
The transaction is Ingenovis’ third in the past 12 months, following its acquisitions of HealthCare Support, a leading provider of clinical and non-clinical allied staffing services, and VISTA Staffing Solutions, a leading provider of physician staffing services.
“The acquisition of Springboard is another milestone in the long-term strategy of Ingenovis Health to further scale and grow through both strategic acquisitions and high-impact organic initiatives,” said Stephen Trevor, Partner at Cornell Capital.
Jeremy Lynch, Partner at Trilantic North America, added, “The addition of Springboard’s talented team with unmatched cardiovascular expertise diversifies Ingenovis’ service offerings and, together, they are well positioned to grow and help address the staffing challenges in the healthcare industry.”
Citizens Bank, N.A. and KeyBanc Capital Markets are acting as joint lead arrangers for the transaction. Davis Polk & Wardwell LLP is acting as legal advisor to Ingenovis, Cornell Capital and Trilantic North America. Citizens M&A Advisory is acting as financial advisor to Springboard, and Dinsmore & Shohl LLP is acting as legal advisor.
About Springboard Healthcare
Springboard is a leading healthcare travel staffing and education company that specializes in the niche area of cardiovascular medicine. It sources seasoned, talented cardiovascular RNs and technologists who travel to client hospitals in all 50 states, stepping in to offer their expertise where needs are greatest.
Additionally, Springboard’s education division offers a catalog of online cardiovascular courses designed to help clinicians and school students advance their careers by earning sought-after industry certifications like the Registered Cardiovascular Invasive Specialist (RCIS) and Registered Cardiac Electrophysiology Specialist (RCES). For more information, visit www.springboardhealthcare.com.
About Ingenovis Health
Ingenovis Health is an ingenious new force in healthcare, combining the power of industry-leading workforce solutions providers and a technology-forward approach to advance the delivery of critical healthcare clinicians to systems nationwide. Brands in the portfolio include Trustaff Travel Nurses, Fastaff Travel Nursing, U.S. Nursing Corporation, CardioSolution, HealthCare Support, and VISTA Staffing Solutions. For more information, visit www.ingenovishealth.com.
About Cornell Capital
Cornell Capital LLC is a U.S.-based private investment firm with ~$6 billion of AUM and offices in New York and Hong Kong. Leveraging decades of global investment experience, the firm takes a disciplined approach to investing across the consumer, financial services, and industrials/business services sectors, often in companies that can benefit from the firm’s Asia presence and cross-border expertise. Founded in 2013 by Senior Partner Henry Cornell, the former Vice Chairman of Goldman Sachs’ Merchant Banking Division, the firm is led by a highly seasoned team with significant shared investment experience. For more information, visit www.cornellcapllc.com.
About Trilantic North America
Trilantic Capital Management L.P. (“Trilantic North America”) is a growth-focused middle market private equity firm focused on control and significant minority investments in North America. Trilantic North America’s primary investment focus is in the business services and consumer sectors. Trilantic North America has managed six private equity fund families with aggregate capital commitments of $9.9 billion. For more information, visit www.trilanticnorthamerica.com.
Lauren Pasquale Bartlett
Jon Keehner / Kate Thompson / Woomi Yun
Joele Frank, Wilkinson Brimmer Katcher
Trilantic North America