Cross Country to expand facility, use proceeds to acquire Advantage RN

By Marisa Wong

Morgantown, W.Va., June 13 – Cross Country Healthcare, Inc. said it plans to use borrowings under its senior credit facility to finance its acquisition of all the assets and business of Advantage RN and its affiliates.

In connection with the transaction, the company has also entered into a commitment to increase the borrowing capacity under its current credit facility by $40 million, according to a press release.

The company will also use cash on hand to help fund the acquisition, which is valued at $88 million and expected to close in the third quarter of 2017.

Cross Country is based in Boca Raton, Fla., and provides health-care workforce solutions.

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