SAN FRANCISCO: Cross Country Healthcare Inc., a technology-driven healthcare workforce solutions company, has agreed to be acquired by investment firm Knox Lane for $13.25 per share in an all-cash transaction valued at $437 million, the company announced Thursday.
The offer represents a 31% premium over the company’s closing price on May 6, 2026, and a 45% premium over its volume-weighted average trading price for the 90-day period ended May 6.
Upon completion of the deal, expected in the third quarter of 2026, Cross Country Healthcare will become a privately held portfolio company of Knox Lane and will cease trading on the 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.
The transaction requires approval by Cross Country Healthcare stockholders and customary regulatory clearances. The company will continue operating under the Cross Country Healthcare name and brand.
BofA Securities Inc. is serving as exclusive financial advisor to Cross Country Healthcare, with Davis Polk & Wardwell LLP as legal counsel. MTS Health Partners is advising Knox Lane, with Kirkland & Ellis LLP as its legal counsel.
Editor’s take: $13.25 a share feels like a solid exit for public shareholders, especially with that 45% premium over the three-month average. But here’s the thing—Cross Country has been pushing its AI-powered platform, Intellify, as a game-changer for hospital labor management. Going private under a growth-oriented firm like Knox Lane could mean they finally get to play the long game without quarterly earnings pressure. Or it could mean aggressive cost-cutting and roll-ups. Given Knox Lane’s track record with “human capital” and “digital transformation,” I’d bet on the former—but healthcare staffing is a cruel business. Let’s check back in two years.