Cross Country Healthcare, a leading, technology-driven healthcare workforce solutions company, announced that it has entered into a definitive agreement to be acquired by Knox Lane, a growth-oriented investment firm. Under the terms of the agreement, Knox Lane will acquire all outstanding shares of Cross Country Healthcare common stock for $13.25 per share in an all-cash transaction valued at $437 million. The transaction represents a premium of approximately 31 percent to Cross Country Healthcare’s closing price on May 6, 2026, and a 45 percent premium to the Company’s volume-weighted average trading price for the 90-day period ended May 6, 2026.
Upon completion of the transaction, Cross Country Healthcare will become a privately held platform company in Knox Lane’s portfolio and will cease trading on Nasdaq stock exchange.
“We are excited to be working with Knox Lane, who brings significant and direct expertise in our sector to help Cross Country Healthcare enter its next phase of growth, while delivering significant and immediate value to our stockholders,” said Kevin Clark, Co-Founder, Chairman and Chief Executive Officer of Cross Country Healthcare. “Knox Lane truly appreciates our iconic brand and the strength of our platform, especially the proprietary technology we’ve built on four decades of real‑world experience. That foundation uniquely positions organizations to design, predict, and optimize labor strategies with market‑leading precision. Just as important, Knox Lane recognizes the exceptional team behind it all, delivering best‑in‑class solutions to our clients and the thousands of professionals we proudly support every day,” he continued.
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“Cross Country Healthcare is a longstanding leader and innovator in healthcare workforce solutions, with an unparalleled focus on delivering clinical excellence,” said John Bailey, Managing Partner at Knox Lane and Shamik Patel, Partner at Knox Lane. “We are excited to leverage our extensive experience to bring added strategic focus and capabilities to the business to build on its already strong foundation, technology, and customer relationships.”
Transaction Details
The proposed transaction is expected to close in the third quarter of 2026, subject to customary closing conditions, including approval by Cross Country Healthcare stockholders and required regulatory approvals.
Upon completion of the transaction, the Company will continue to operate under the Cross Country Healthcare name and brand.
Additional details regarding the transaction will be included in a Current Report on Form 8-K to be filed by Cross Country Healthcare with the U.S. Securities and Exchange Commission (“SEC”).
SOURCE: Bsuisinesswire
