Knox Lane completes $437Mn Cross Country Healthcare buy
FLORIDA, UNITED STATES — Knox Lane has completed its $437 million all-cash acquisition of Cross Country Healthcare, taking the Boca Raton, Florida-headquartered healthcare staffing company private, the companies announced in a press release.
Priced at $13.25 per share, the deal represents a 31% premium to Cross Country Healthcare‘s closing stock price on May 6, 2026, when the transaction was first announced.
Joel Tremblay has been named Chief Executive Officer (CEO) of the newly private company, with Cross Country Healthcare delisting from Nasdaq.
Knox Lane gains scaled healthcare workforce platform
Cross Country Healthcare provides healthcare staffing and workforce management technology to hospitals, health systems, and schools across the United States. Knox Lane, which manages approximately $3.5 billion in assets, adds Cross Country to a healthcare portfolio that already includes All Star Healthcare Solutions.
The company reported $241.1 million in first-quarter 2026 revenue as it navigates post-pandemic normalization in travel nursing demand.
“Cross Country Healthcare occupies a distinctive position at the intersection of healthcare workforce solutions and technology. The Company has established a recognized market position, a trusted brand, and a differentiated platform designed to address critical workforce challenges across the healthcare ecosystem,” said John Bailey, Managing Partner, and Shamik Patel, Partner, at Knox Lane.
Tremblay leads Cross Country into private ownership
Tremblay’s appointment signals a leadership transition as Cross Country Healthcare moves from Nasdaq to a private equity-backed growth platform.
Cross Country’s four decades of healthcare workforce expertise, combined with Knox Lane’s sector-specific investment focus, position the company to accelerate technology and service innovation. The concurrent transfer of the locums division to All Star Healthcare Solutions consolidates Knox Lane’s physician staffing presence across its portfolio.
“I am honored to lead Cross Country Healthcare as it returns to private ownership and enters its next phase of growth. With its trusted brand, leading market presence, and differentiated platform, the Company is uniquely positioned to help clients navigate workforce challenges and ensure access to quality patient care,” said Joel Tremblay, CEO at Cross Country Healthcare.
The $437 million deal ranks among the most significant healthcare staffing transactions of 2026, as hospital systems increasingly rely on outsourced staffing and workforce management technology to address clinical labor shortages.
Cross Country Healthcare’s move to private ownership follows a broader trend of staffing firms exiting public markets amid post-pandemic revenue normalization.
For business process outsourcing (BPO) providers serving healthcare clients, the Knox Lane deal signals continued appetite for scaled workforce management platforms that combine staffing capacity with technology-enabled delivery.
