Cross Country Healthcare, Inc. entered a definitive agreement to be acquired by Knox Lane. This deal is an All-Cash Transaction valued at approximately $437 million. Stockholders will receive $13.25 per share in cash. This price represents a 31 percent premium over the closing price on May 6, 2026. It also reflects a 45 percent premium over the 90-day average price. The transaction was approved by the Board of Directors.
The All-Cash Transaction will result in the company becoming a private entity. Kevin Clark serves as the Co-Founder, Chairman, and CEO of the company. The deal follows a thorough review of strategic alternatives.
“We are excited to be working with Knox Lane, who brings significant and direct expertise in our sector to help Cross Country Healthcare enter its next phase of growth, while delivering significant and immediate value to our stockholders. Knox Lane truly appreciates our iconic brand and the strength of our platform, especially the proprietary technology we’ve built on four decades of real‑world experience. That foundation uniquely positions organizations to design, predict, and optimize labor strategies with market‑leading precision. Just as important, Knox Lane recognizes the exceptional team behind it all, delivering best‑in‑class solutions to our clients and the thousands of professionals we proudly support every day,” said Kevin Clark.
Private Ownership and Strategic Healthcare Growth
Knox Lane is a growth-oriented investment firm. This All-Cash Transaction provides immediate and certain value to stockholders. The firm intends to support the next phase of growth. The acquisition is not subject to a financing condition.
“Cross Country Healthcare is a longstanding leader and innovator in healthcare workforce solutions, with an unparalleled focus on delivering clinical excellence. We are excited to leverage our extensive experience to bring added strategic focus and capabilities to the business to build on its already strong foundation, technology, and customer relationships,” said John Bailey, Managing Partner at Knox Lane, and Shamik Patel, Partner at Knox Lane.
The deal should close in the third quarter of 2026. It requires approval from stockholders and regulatory authorities. BofA Securities, Inc. serves as the exclusive financial advisor to the company. Davis Polk & Wardwell LLP provides legal counsel. MTS Health Partners is the financial advisor to the buyer. Kirkland & Ellis LLP serves as legal counsel to Knox Lane.
The company remains a leader in technology-driven workforce solutions. It uses an AI-powered digital platform for healthcare labor expertise. This includes the cloud-based Intellify workforce management system. The platform helps health systems optimize their labor ecosystem. Cross Country offers clinical and non-clinical staffing. It also provides physician and education staffing. Target clients include hospitals and outpatient clinics.
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News Source: Businesswire.com
