AMN Healthcare Services Acquires Avantas

(RTTNews) - AMN Healthcare Services, Inc. (AHS), Monday announced the acquisition of Avantas, a provider of clinical labor management services.

The purchase price includes an initial payment of $16.5 million, with an earn-out potential of up to $8.5 million based on future operating performance. The acquisition was funded out of cash on hand and debt.

AMN CEO Susan Salka said, "By bringing Avantas into the AMN portfolio of services, our clients will benefit from best-practice strategies, resource management expertise, innovative technologies, and access to clinical labor that is unrivaled in the industry."

The 2014 projected revenue of Avantas is approximately $8 million, and the acquisition is expected to be neutral to AMN's earnings in 2015 and accretive by 2016.