Cross Country Healthcare Acquisition Delayed Amid FTC Inquiry

Cross Country Healthcare, Inc. (NASDAQ:CCRN), one of America’s leaders in healthcare staffing, has announced that it has received a request for additional information from the U.S. Federal Trade Commission (FTC) in connection with its previously announced proposed merger with Aya Holdings II Inc.

The merger was initially announced on December 3, 2024, and was set to see Aya Healthcare, Inc., a subsidiary of Aya Holdings II Inc., acquiring Cross Country Healthcare. Upon completion of the merger, Cross Country Healthcare would continue to operate as a wholly-owned subsidiary of Aya Holdings II Inc.

The purpose of the FTC’s request, commonly referred to as a “Second Request,” is to extend the waiting period under the Hart-Scott-Rodino (HSR) Act. In consequence, the merger cannot go ahead until 30 days after both companies have complied with the Second Request, unless that period is extended voluntarily by the parties or the FTC terminates it earlier.

Both Cross Country Healthcare and Aya Healthcare have pledged to work cooperatively with the FTC to resolve the situation. With the delay caused by the FTC’s request, Cross Country Healthcare now anticipates the merger will close in the second half of 2025, subject to the approval of the firm’s stockholders and the satisfaction of typical closing conditions outlined in the merger agreement.

This announcement comes as part of a Form 8-K filing used to notify investors of non-routine events that are important to shareholders. In this case, the key information is the delay in the proposed merger and its implications for future plans of the company.

Despite the delay, the proposed merger suggests a promising outlook for Cross Country Healthcare, offering a chance for the company to expand its influence in the healthcare staffing industry. However, the finalization of the merger is subject to FTC approval and the fulfillment of several other conditions. As of now, investors and security holders have been advised to read all relevant documents filed with SEC.

This article contains certain forward-looking statements, including statements regarding the anticipated merger. These forward-looking statements are based on current expectations and assumptions and are inherently subject to risks, uncertainties, and changes in circumstances that are difficult to predict. Therefore, actual results may differ materially from these forward-looking statements.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Cross Country Healthcare’s 8K filing here.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company’s Nurse and Allied Staffing segment provides traditional staffing, recruiting, and value-added total talent solutions, including temporary and permanent placement of travel and local nurse and, allied professionals; temporary placement of healthcare leaders within nursing, allied, physician, and human resources; vendor neutral and managed services programs; education healthcare services; in-home care services; and outsourcing services.