Dresner Advises AMR ProNurse in Sale to Medical Staffing Network Holdings
Posted on: Tuesday, 9 October 2007, 12:00 CDT
Dresner Partners, a leading NASD middle-market investment bank, announced today that it served as the exclusive financial advisor to AMR ProNurse in its sale to Medical Staffing Network Holdings, Inc. (NYSE: MRN). AMR ProNurse management will remain in place as part of the acquisition.
Headquartered in Chicago, AMR ProNurse is the dominant provider of Vendor Management Services (VMS) to the Chicago health care staffing market. Through its proprietary OneSourceVMS program, AMR ProNurse manages every facet of staffing including order processing, reporting, invoicing, quality initiatives, and payment processes. AMR ProNurse currently has exclusive OneSource relationships with 10 major Chicago-area acute care facilities and one not-for-profit foundation, collectively representing more than 4,600 licensed beds.
Medical Staffing Network (MSN) is the third largest health care staffing company in the United States. MSN has been a national leader in supplemental health care staffing since 1998.
"OneSource has been well received in the Chicago market, but we needed a national network to expand our market presence, and Dresner Partners found us the perfect match with Medical Staffing Network," said Mark Gallagher, chief executive officer of AMR ProNurse. "We had very specific requirements in mind when looking for a strategic financial advisor. Dresner Partners fulfilled all of these requirements and really took the time to learn the value proposition we offer clients. We couldn't be more pleased with the end result."
According to Timothy C. Coleman, senior managing director for Dresner Partners who advised AMR ProNurse, "OneSource represents a significant growth opportunity. Now, as part of Medical Staffing Network, we anticipate that OneSource will rapidly penetrate markets across the country."
"We are extremely pleased with the outcome of this transaction as it exemplifies the capabilities of our rapidly growing health care practice," said Steven M. Dresner, president of Dresner Partners. "I would like to thank Tim Coleman for his leadership on this transaction, along with the support of Ejaz Elahi and Chad Frederickson."
About Dresner Partners
Dresner Partners is a NASD-registered, middle-market investment bank based in Chicago, Illinois. Founded in 1991, Dresner Partners provides financial advisory services to business owners and managers throughout the United States, including institutional private placements of debt and equity, merger & acquisition advisory, and valuation and strategic consulting. Its affiliate company, Dresner Corporate Services, is a strategic communications firm specializing in investor and public relations. More information is available via the Internet at www.dresnerpartners.com.
About Medical Staffing Network Holdings, Inc.
Medical Staffing Network Holdings, Inc. is the largest provider of per diem nurse staffing services in the United States as measured by revenues. The Company also is a leading provider of travel nurse staffing services and of allied health professionals, such as radiology and diagnostic imaging specialists, clinical laboratory specialists, rehabilitation specialists, pharmacists and respiratory therapists and other similar health care vocations.
Contact: David Gutierrez Dresner Corporate Services 312.780.7240 dgutierrez@dresnerco.com Timothy Coleman Dresner Partners 312-780-7219 tcoleman@dresnerco.com
SOURCE: Dresner Partners
Source: MARKET WIRE
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