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On Assignment draws on revolver for purchase of HealthCare Partners
By Sara Rosenberg
New York, Aug. 1 - On Assignment Inc. used borrowings under its senior revolving credit facility and cash on hand to fund its acquisition of HealthCare Partners Inc., according to a news release.
Under the agreement, On Assignment paid $15 million for HealthCare Partners at close, and there is a two-year earn-out opportunity of up to $3.7 million.
On Assignment is a Calabasas, Calif.-based provider of professionals in the life sciences, health care and technology sectors. HealthCare Partners is an Atlanta-based locum tenens and physician staffing firm.
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