Dallas-based healthcare private equity firm Havencrest Capital Management has acquired Focus Staff Services, a Dallas-based provider of temporary workforce solutions in the healthcare marketplace.
Focus was founded in 2009 and provides both nurse and allied staffing services, across all 50 states, to many of the country’s leading integrated delivery networks, acute care hospitals, and other healthcare facilities. Financial terms of the transaction were not disclosed.
“We’ve been extremely impressed with Focus’s growth to date and are excited about our partnership with the company,” Havencrest Partner Matt Shofner said in a statement. “The COVID-19 pandemic brought to light many underlying, but persistent, healthcare workforce issues, and we are committed to furthering the Company’s growth in order to help alleviate those issues.”
Earlier this year, Focus was recognized as one of the top five nurse staffing companies in the nation by BluePipes, a professional networking platform dedicated to the healthcare industry.
Workforce solutions for healthcare staffing
Since completing the majority recapitalization of Focus, Havencrest has added two staffing industry veterans to the company’s board of advisers: Steven Francis, founder, former CEO and chairman of AMN Healthcare Services, the largest publicly traded healthcare staffing company in the nation, and Kay Cowling, former CEO of Fastaff, the seventh largest healthcare staffing company in the United States.
“At Focus, we believe in delivering the best service to our clients and providing greater access to the highest quality healthcare professionals in order to tackle the real shortages we see across the market,” Focus CEO Kyle Rhodes said in a statement. “We are thrilled to have found a partner in Havencrest that aligns with our values, shares our visions and can help us achieve our goals.”
Havencrest Principal Jett Aubrey said that Focus is a good fit for the firm.
“Workforce solutions are an increasingly important part of care delivery across the healthcare spectrum,” Aubrey said in a statement. “We believe Focus is well-positioned to be a flexible and efficient partner to its customers’ personnel needs.”
Sheppard Mullin Richter & Hampton LLP served as legal counsel to Havencrest. The Belay Group served as financial adviser to Focus, and Solomon Partners served as financial adviser to Havencrest.
Havencrest Capital Management is an investment manager of healthcare-focused private equity funds with more than $600 million of assets under management.
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