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AMN Sells Home Health Care Business to BAYADA

News-Medical (01/31/12)

AMN Healthcare Services Inc. has completed the sale of its home health care business to BAYADA Home Health Care Inc. As a result of the sale, AMN will receive cash proceeds of $9.65 million and retain working capital of approximately $4 million. “Given significant reimbursement changes and the current uncertainty in the regulatory environment, we determined a divestiture of home health care would allow an even sharper focus on our market-leading health care work force solutions offerings,” says Susan Salka, AMN’s chief executive officer.

“Our primary strategy of evolving our innovative health care work force solutions offerings and improving profitability through growth and leverage of our leadership position in managed services programs continues to be on track,” Salka notes. “We have our sights set on another year of industry leading revenue and profitability growth and continuing to build our market share in 2012.” AMN’s 19 franchisee-owned Nursefinders offices were not included in the transaction.