On June 8, 2012, Tenex Capital Management acquired a majority interest in Medical Solutions, a leading travel nursing company headquartered in Omaha, NE. Joining Tenex in the investment is McCarthy Capital Fund V, a leading Omaha-based private equity firm.
Medical Solutions focuses on meeting the urgent and short-term staffing needs of its clients with highly skilled allied health professionals, nurses and technologists. A nationwide network of travelers allows Medical Solutions to help its client hospitals continue to provide excellent patient care amidst a nursing and allied health shortage.
“We are excited at the prospect of working with an industry leader, and believe it is well-positioned to fill a gap in the current marketplace,” said Varun Bedi, Managing Director and Principal at Tenex Capital Management.
An enhancement to Medical Solutions will be the addition of a board of directors, comprised of Tenex, McCarthy, and Steven Francis. Mr. Francis, co-founder and former longtime CEO of AMN Healthcare Services, Inc. (NYSE:AHS), the largest healthcare staffing company in the country, will add decades of industry knowledge and experience. “With the backdrop of a dynamic market, we analyzed several players in the industry and found that the Medical Solutions model is uniquely positioned to thrive in today’s market,” commented Mr. Francis.
Medical Solutions is Tenex’s first of multiple investments planned in the healthcare staffing industry.
About Medical Solutions
Medical Solutions, Inc. is a leading travel nursing company developed to provide the best service to hospitals and travelers. The Company was one of the first travel nurse and allied healthcare staffing companies to be certified by the Joint Commission and has been continuously certified since 2004. Medical Solutions was ranked third among medium-sized companies in “Staffing Industry Analyst’s 2012 Best Staffing Firms to Work For.” To learn more about Medical Solutions, visit www.MedicalSolutions.com to learn more.
About Tenex Capital Management
Tenex Capital Management is a private equity fund that invests in middle-market companies. Tenex utilizes an in-house team of hybrid professionals skilled in operational leadership, investing and capital markets structuring to maximize long-term value creation. Tenex’s deep operating experience allows the firm to collaborate with management teams to capitalize on business and market opportunities. Tenex has established a successful track record investing in diverse industries, including transportation, industrials, manufacturing, and health and business services. For more information, please visit http://www.tenexcm.com.