ABOUT AVANTAS, LLC
Developers of the HELM(TM) (healthcare enterprise labor management) methodology , Avantas is devoted to serving the healthcare industry. Its proprietary approach to managing labor consists of workforce planning services and a scheduling and productivity solution, Smart Square®. This comprehensive approach provides its clients with tailored best practice labor management strategies designed to drive substantial and sustaining cost and quality improvements across the enterprise through automation. For more information, please visit the Avantas website at avantas.com.
ABOUT AMN HEALTHCARE, INC.
AMN Healthcare is the leader and innovator in healthcare workforce solutions and staffing services to healthcare facilities across the nation. AMN Healthcare's workforce solutions - including managed services programs, vendor management systems, recruitment process outsourcing and consulting services - enable providers to successfully reduce complexity, increase efficiency and improve patient outcomes within the rapidly evolving healthcare environment. The Company provides unparalleled access to the most comprehensive network of quality healthcare professionals through its innovative recruitment strategies and breadth of career opportunities. Clients include acute-care hospitals, community health centers and clinics, physician practice groups, retail and urgent care centers, home health facilities, and many other healthcare settings. AMN Healthcare disseminates news and information about the Company through its website, which can be found at amnhealthcare.com.
ABOUT HAMMOND HANLON CAMP LLC
Hammond Hanlon Camp LLC (“H2C”) is an independent strategic advisory and investment banking firm committed to providing superior advice as a trusted advisor to healthcare organizations throughout the United States. H2C’s professionals have a long track record of success in healthcare mergers & acquisitions, capital markets, real estate and restructuring transactions, acting as lead advisors on hundreds of transactions representing billions of dollars in value. Hammond Hanlon Camp LLC offers securities through its wholly-owned subsidiary H2C Securities Inc., member FINRA/SIPC. For more information, go to h2c.com.
Hammond Hanlon Camp LLC
623 Fifth Avenue
New York, NY 10022
3333 Piedmont Road
Atlanta, GA 30305
311 South Wacker Drive
Chicago, IL 60606
Hammond Hanlon Camp LLC Advises Catholic Health Initiatives on the Sale of Avantas, LLC to AMN Healthcare, Inc.
posted on June 26, 2015
SAN DIEGO – Catholic Health Initiatives ("CHI") has completed the sale of Avantas, LLC (“Avantas”) to AMN Healthcare, Inc. (“AMN Healthcare”), a publicly-traded healthcare workforce solutions and staffing services provider. Hammond Hanlon Camp LLC (“H2C”) served as the exclusive financial advisor to CHI.
Avantas is a leading provider of clinical labor management services, including workforce consulting, data analytics, predictive modeling and Software-as-a-Service based scheduling technology. Avantas received the highest rating for a staff scheduling company in its category by KLAS, a leading healthcare industry research firm, which also identified Avantas as "the most promising human capital niche/focused vendor for staff scheduling" based on its Smart Square® technology.
H2C made an immediate impact on the sale. Prior to H2C’s engagement, Avantas was in preliminary discussions with a few parties. H2C structured a broad sell-side process, generating significant competitive tension among the strategic and financial buyers to achieve the seller and management’s objectives: improved valuation for CHI and strategic fit for Avantas. Once AMN Healthcare was selected, H2C assisted CHI and Avantas in negotiating and finalizing the terms of the sale.
“The transaction leveraged the strengths of two best-in-industry companies that will now be able to offer enhanced labor optimization solutions to healthcare provider organizations. H2C was critical to understanding and aligning all stakeholder needs - the sellers, buyer, and management team. In the end, their expertise in driving this process resulted in all parties realizing a desirable outcome,” added Chris Fox, Chief Executive Officer of Avantas.
“AMN Healthcare was pleased to work with CHI and H2C to bring Avantas into AMN’s portfolio of innovative healthcare workforce solutions. With labor representing more than half of operating costs at healthcare facilities, our clients are in great need of labor optimization solutions, workforce planning analytics, and flexible staffing models to support the effective and efficient delivery of care,” stated Brian Scott, Chief Financial Officer of AMN Healthcare.
“We were pleased to assist CHI, one of our longstanding clients, in its sale of Avantas. By finding Avantas a strategically-aligned partner in AMN Healthcare, this transaction represents a win for all parties involved,” stated William B. Hanlon III, Principal, Hammond Hanlon Camp LLC.
"By finding Avantas a strategically-aligned partner... this transaction represents a win for all parties involved."
- William B. Hanlon III
4655 Executive Drive Suite 280
San Diego, CA 92121