TrueBlue announced the off-market acquisition of Healthcare Staffing Professionals, Inc. (HSP) for $42 million, with the transaction effective January 31, 2025. HSP is a long-term temporary and permanent staffing solutions provider primarily focused on healthcare positions, including nursing, allied health, behavioral health, and various research, IT, and administrative roles.
This acquisition is a significant strategic move to accelerate TrueBlue's diversification into the attractive and resilient healthcare industry. It is expected to contribute $75 million to $85 million in revenue and $5 million to $7 million in segment profit over the next 12 months, immediately enhancing TrueBlue's financials.
The addition of HSP expands TrueBlue's total addressable market from $45 billion to $90 billion, positioning the company for growth in a high-demand sector. The acquisition was financed through existing facilities, with a forward-looking multiple of 6 to 8 times expected segment profit.
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