Preferred Employers Holdings Acquires National Explorers and Travelers Healthcare

Strategic Insights -

Preferred Employers Holdings, Inc. and its subsidiary Preferred Healthcare Staffing, Inc. have acquired National Explorers and Travelers Healthcare, Inc. through a pooling-of-interests, exchanging 517,085 shares of common stock for the entire outstanding capital stock of NET Healthcare. Founded in January 1996, NET Healthcare specializes in providing registered nurses and other medical personnel to hospitals in the United States and Caribbean on a contractual basis. The acquisition marks Preferred's second employee staffing acquisition this year, adding over 600 nurses, surgical technologists, and therapists under contract and expanding its client base to over 1,000 facilities in the continental United States and Caribbean.

Key Takeaways:

  • Preferred Employers Holdings acquires National Explorers and Travelers Healthcare, Inc. through a pooling-of-interests in exchange for 517,085 shares of common stock.
  • NET Healthcare, organized in January 1996, provides registered nurse and other professional medical personnel to hospitals in the United States and Caribbean.
  • The acquisition expands Preferred's client base to over 1,000 facilities in the continental United States and Caribbean.
  • NET Healthcare placed in excess of 1,000 nurses during 1997, with orders for over 1,800 nurses.
  • Preferred Healthcare Staffing, Inc. retains existing management and staff of NET Healthcare.
  • Preferred Employers Holdings' announced strategy involves growing its core business in new geographic regions, expanding operations in complementary businesses, and leveraging its workers' compensation knowledge and expertise.

Statistics:

  • 517,085 shares of common stock exchanged for NET Healthcare's outstanding capital stock.
  • Over 600 nurses, surgical technologists, and therapists under contract with Preferred Healthcare Staffing, Inc.
  • Over 1,000 client facilities served by Preferred Healthcare Staffing, Inc. in the continental United States and Caribbean.
  • Home to over 1,000 nurses placed by NET Healthcare during 1997.
  • Over 1,800 nurses with orders from NET Healthcare.
  • Founded in January 1996, NET Healthcare has over two years of experience providing medical personnel.

Sources:

  • "Preferred Employers Holdings, Inc. Announces Acquisition of National Explorers and Travelers Healthcare, Inc." PR Newswire, 12 Aug. 1998.
  • SOURCE Preferred Employers Holdings, Inc.
  • SOURCE Preferred Healthcare Staffing, Inc.
  • SOURCE SJ

PRNewswire.com, 12 Aug. 1998.