Knox Lane acquires Cross Country Healthcare

Knox Lane, a private investment firm, has reached an agreement to acquire Cross Country Healthcare, Inc. for $437 million in cash. This acquisition solidifies Knox Lane's position in the healthcare workforce solutions sector as it brings Cross Country Healthcare under its portfolio. Cross Country Healthcare, presently listed on Nasdaq, will transition to a privately-held company following this deal. The transaction price of $13.25 per share represents a significant 31% premium over Cross Country's closing stock price as of May 6, 2026, and a 45% premium over its 90-day volume-weighted average.

Cross Country Healthcare, known for its technology-driven workforce solutions, utilizes its AI-powered digital platform and advisory services to streamline labor management in health systems. Under Knox Lane’s ownership, the company aims to enhance its strategic focus and capitalize on existing technological advantages. According to Kevin Clark, Co-Founder, Chairman, and CEO of Cross Country Healthcare, the acquisition allows for continued growth with strategic oversight from Knox Lane, leveraging its deep experience in the sector.

Knox Lane's leadership, including Managing Partner John Bailey and Partner Shamik Patel, emphasized the opportunity to expand Cross Country's already robust infrastructure and customer relationships. They see potential in building upon the firm’s reputation for clinical excellence and its proprietary technology, designed to optimize workforce strategies across healthcare organizations.

The healthcare workforce solutions market is seeing increasing interest from investors as health systems continually seek efficient workforce management solutions amid evolving technological demands. Cross Country Healthcare's established platform, Intellify, plays into this landscape by offering integrated workforce management that bridges non-clinical and clinical service lines. As the sector faces pressure to optimize labor resources, solutions like Intellify gain traction for their ability to enhance transparency and management.

Subject to customary closing conditions, including stakeholder and regulatory approval, the acquisition is anticipated to close in the third quarter of 2026. Once finalized, Cross Country will continue operations under its current name and brand. Detailed transaction information will be submitted in an upcoming filing with the U.S. Securities and Exchange Commission. BofA Securities, Inc. advised Cross Country, while MTS Health Partners served as Knox Lane’s advisor, signifying strategic considerations were thoroughly examined on both sides of the transaction.