GHR Acquisition

Industry: Staffing

Investment Date: February 2017

Headquarters: Houston, TX

Website: www.ghresources.com

Website: www.recruitiqstaffing.com

Investment Overview:

GHR Acquisition is a holding company focused on the staffing industry through two main subsidiaries, General Healthcare Resources (“GHR”) and RecuitIQ Staffing (“RIQ”).

GHR is a leading provider of healthcare staffing solutions to regional healthcare providers throughout the Mid-Atlantic and Southeast United States.  GHR provides five main lines of business: 1) Nursing, 2) Therapy, 3) Behavioral / Education, 4) Direct Placement, and 5) Pharmacy.  The Nursing segment is comprised of long-term care and acute care nurse staffing.  The Therapy segment includes orders on a per-diem, temp-to-perm, and contract basis with an assignment length of approximately 13 weeks.  The Behavioral / Education segment focuses on treating mental health and behavioral issues.  Direct Placement emphasizes placing the majority of positions for management opportunities within healthcare as well as some human service openings.  The Pharmacy segment focuses on a broad range of work environment placements including administration, corrections, data entry, retail, etc.  GHR was founded in 1993, and is headquartered in Plymouth Meeting, Pennsylvania.

RIQ was founded in April 2016 and is led by Janet Elkin, Laura Magner, Cheryl Wilhelm and Mike Dunagan who have all worked together in the staffing industry for a number of years.  RIQ is headquartered in Dallas, TX and provides staffing solutions to the travel nursing,  IT and veterinary industries.

 

Transaction Background:

GHR was introduced to Platform in November 2016 by Joe Kaplan, a Houston-based investor the Platform Principals have known for many years and had jointly evaluated other investment opportunities together. Platform had prior experience in buy-and-build investments and Joe and his investment partners had significant experience investing in the healthcare and staffing industries and had also identified the GHR opportunity. A newly formed holding company was established to acquire GHR in early 2017. In addition to the GHR acquisition, RecruitIQ Staffing was merged into the business which brought a highly-experienced management team to the table. Together, the two companies create a scalable platform for expansion and growth.