OMAHA, Neb., Jun 25, 2012 (BUSINESS WIRE) -- Medical Solutions, a leading national healthcare staffing company headquartered in Omaha, Neb., today announced the completion of an investment by Tenex Capital Management and McCarthy Capital Fund V. Medical Solutions' partnership with long-term-oriented capital providers will allow it to build on its industry-leading standard for customer service by continuing to develop service technology, and also to increase both the number of job opportunities for travelers and the number of quality candidates to healthcare facilities.
"We are excited for this investment to help us continue the growth and success our company has achieved. We plan to further invest in technology to support our increased penetration of the market and enable us to continually improve our relationships and experiences with our valued hospital and traveling healthcare professionals," said Scott Anderson, CEO, of Medical Solutions.
"We are excited at the prospect of working with a well-positioned industry leader and its ability to fill a gap in the current marketplace," said Varun Bedi, managing director and principal at Tenex Capital Management. "We're thrilled to make this investment in Medical Solutions and we look forward to working with management in furthering its growth," said Patrick Duffy, managing partner of McCarthy.
An enhancement to Medical Solutions will be the addition of a board of directors, composed of Tenex and McCarthy and chaired by Steven Francis. Mr. Francis, co-founder and former longtime CEO of AMN Healthcare Services, Inc. /quotes/zigman/288280/quotes/nls/ahs AHS -0.16% , the largest healthcare staffing company in the US, will add decades of industry knowledge and experience. "With the backdrop of a dynamically changing market, we analyzed several players in the industry and found that the Medical Solutions model is uniquely positioned to thrive in today's market," commented Mr. Francis.
About Medical Solutions Medical Solutions, Inc. was one of the first travel nurse and allied healthcare staffing companies to be certified by the Joint Commission and has been continuously certified since 2004. Its focus is on meeting the urgent and short-term staffing needs of its clients with highly skilled Allied Health professionals, Nurses and Technologists. A nationwide network of travelers allows Medical Solutions to help its client hospitals continue to provide excellent patient care amidst a Nursing and Allied Health shortage. Medical Solutions has contracts with nearly 1200 client hospitals nationwide and is one of the fastest growing companies in the travel nursing and allied health industry. Visit www.MedicalSolutions.com to learn more.
About Tenex Capital Management Tenex Capital Management is a private equity fund that invests in middle-market companies. Tenex utilizes an in-house team of hybrid professionals skilled in operational leadership, investing and capital markets structuring to maximize long-term value creation. Tenex's deep operating experience allows the firm to collaborate with management teams to capitalize on business and market opportunities. Tenex has established a successful track record investing in diverse industries, including transportation, industrials, manufacturing, and health and business services. For more information, please visit http://www.tenexcm.com .
About McCarthy Capital Fund V McCarthy Capital Fund V is managed by McCarthy Partners Management, LLC, an affiliated RIA of McCarthy Capital ("McCarthy"). McCarthy is an Omaha-based private equity firm focused exclusively on lower middle-market companies. For more than 25 years, the McCarthy organization has been partnering with founders, families and exceptional management teams to support the growth of their companies. For more information about McCarthy, please visit www.mccarthycapital.com .
SOURCE: Medical Solutions
