Key Takeaways
- • Knox Lane, a growth-oriented private equity firm with $3.5 billion in assets under management, has completed the acquisition of Cross Country Healthcare for $437 million in an all-cash transaction, taking the company private.
- • Shareholders received $13.25 per share, representing a 31% premium to Cross Country Healthcare's closing price on May 6, 2026, and a 45% premium to the 90-day volume-weighted average trading price as of that date.
- • Cross Country Healthcare, a technology-driven healthcare workforce solutions company with four decades of operating history, will cease trading on the Nasdaq upon deal completion and become a privately held portfolio company under Knox Lane's ownership.
- • Kevin Clark, Co-Founder, Chairman and Chief Executive Officer of Cross Country Healthcare, emphasized the company's proprietary technology platform and exceptional team as key assets that position the organization for the next phase of growth under Knox Lane's healthcare sector expertise.
- • The transaction underscores Knox Lane's focus on acquiring established healthcare staffing and workforce solutions businesses with differentiated technology capabilities and strong market positioning.
Summary
Knox Lane, a private equity investment firm managing $3.5 billion in assets, has completed its acquisition of Cross Country Healthcare, a publicly traded healthcare workforce solutions company. Under the definitive agreement announced in July 2026, Knox Lane acquired all outstanding shares of Cross Country Healthcare common stock for $13.25 per share in an all-cash transaction valued at $437 million.
The acquisition price represented significant shareholder value, with the $13.25 per-share offer reflecting a 31% premium to Cross Country Healthcare's closing stock price on May 6, 2026, and a 45% premium to the company's 90-day volume-weighted average trading price as of the same date. This valuation underscores investor confidence in the company's strategic position within the healthcare workforce sector, despite the move to privatization.
Cross Country Healthcare operates as a leading, technology-driven healthcare workforce solutions company with an established market presence built over four decades. The company's core value proposition centers on its proprietary technology platform designed to help organizations "design, predict, and optimize labor strategies with market-leading precision," according to Kevin Clark, the company's Co-Founder, Chairman and Chief Executive Officer. Upon transaction completion, Cross Country Healthcare will cease trading on the Nasdaq stock exchange and become a privately held platform company within Knox Lane's portfolio.
Clark characterized the partnership with Knox Lane as strategically beneficial, highlighting the PE firm's direct expertise in the healthcare sector. He noted that Knox Lane's acquisition recognizes both the strength of Cross Country Healthcare's technology infrastructure and the quality of its operational team. The transaction reflects Knox Lane's acquisition strategy focused on established healthcare staffing businesses with defensible technology advantages and strong client and professional networks.
The deal marks a significant transition for Cross Country Healthcare shareholders, converting a public equity stake into immediate cash proceeds while positioning the company for potential growth initiatives under private ownership and Knox Lane's healthcare-focused investment thesis.
The acquisition price represented significant shareholder value, with the $13.25 per-share offer reflecting a 31% premium to Cross Country Healthcare's closing stock price on May 6, 2026, and a 45% premium to the company's 90-day volume-weighted average trading price as of the same date. This valuation underscores investor confidence in the company's strategic position within the healthcare workforce sector, despite the move to privatization.
Cross Country Healthcare operates as a leading, technology-driven healthcare workforce solutions company with an established market presence built over four decades. The company's core value proposition centers on its proprietary technology platform designed to help organizations "design, predict, and optimize labor strategies with market-leading precision," according to Kevin Clark, the company's Co-Founder, Chairman and Chief Executive Officer. Upon transaction completion, Cross Country Healthcare will cease trading on the Nasdaq stock exchange and become a privately held platform company within Knox Lane's portfolio.
Clark characterized the partnership with Knox Lane as strategically beneficial, highlighting the PE firm's direct expertise in the healthcare sector. He noted that Knox Lane's acquisition recognizes both the strength of Cross Country Healthcare's technology infrastructure and the quality of its operational team. The transaction reflects Knox Lane's acquisition strategy focused on established healthcare staffing businesses with defensible technology advantages and strong client and professional networks.
The deal marks a significant transition for Cross Country Healthcare shareholders, converting a public equity stake into immediate cash proceeds while positioning the company for potential growth initiatives under private ownership and Knox Lane's healthcare-focused investment thesis.
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