AMN Healthcare Services, Inc. is the largest healthcare staffing company in the United States since 1985. As the leading nationwide provider of travel nurse staffing services and a leading provider of locum tenens (temporary physician staffing) and permanent placement services for physicians, we recruit nurses, physicians, and allied healthcare professionals nationally and internationally and place them at acute-care hospitals and healthcare facilities throughout the country. Based in San Diego with offices in Dallas, Texas; Denver, Colorado; Ft. Lauderdale, Florida; Savannah, Georgia; and Charlotte, North Carolina, AMN Healthcare is dedicated to providing you with the quality professionals you need to continue offering the highest standards in patient care.AMN Healthcare distinguishes itself from other healthcare staffing companies by using a multi-brand recruitment strategy. Our eleven national healthcare staffing companies—American Mobile Healthcare, Medical Express, Nurses Rx, Nurse Choice, Preferred Healthcare Staffing, O'Grady-Peyton International, TheraTech Staffing, Merritt Hawkins & Associates, Staff Care, Med Travelers and RN Demand—enable us to successfully attract the most experienced, quality healthcare professionals both domestically and internationally.AMN's service team of professionals has worked with thousands of hospitals and health care personnel across all 50 states. Our experience, knowledge and expertise allow us to place the best-matched professionals with your facility and to provide you with the responsive, individualized service you need.
AMN Healthcare Services Announces Closing of Stock Repurchase
SAN DIEGO--(BUSINESS WIRE)--May 15, 2006--AMN Healthcare Services, Inc. (NYSE:AHS), the nation's largest healthcare staffing company, today announced the closing of its stock repurchase previously announced on May 1, 2006. A total of 1,852,000 shares of common stock were repurchased for an aggregate purchase price of $37.6 million including transaction costs. All of the common shares were purchased at a price of $20.17 per share, which represented the 20-day volume weighted average stock price beginning on April 17, 2006 and ending on May 12, 2006. The purchase was funded with an add-on term loan of $30 million to the company's credit facility and cash on hand. The selling shareholders are former owners of The MHA Group, which was acquired by AMN Healthcare on November 2, 2005. Following the stock repurchase, the selling shareholders will continue to own 334,785 shares of AMN Healthcare common stock, all of which are subject to a nine-month lockup period and which will be deregistered from the Form S-3 Registration Statement filed on March 13, 2006. The repurchase is expected to become accretive to earnings per share beginning in 2007.
The shares of common stock repurchased represent approximately 5.7% of AMN's 32,652,304 shares of common stock outstanding as of May 10, 2006. As a result of the repurchase, immediately following payment for the shares of common stock, the company's common stock outstanding was reduced by 1,852,000 shares.
AMN Healthcare Services, Inc. is the largest temporary healthcare staffing company in the United States. As the leading nationwide provider of travel nurse staffing services and a leading provider of locum tenens (temporary physician staffing) and physician permanent placement services, the company recruits physicians, nurses and allied healthcare professionals nationally and internationally and places them on variable lengths of assignments and in permanent positions at acute-care hospitals, physician practice groups and other healthcare facilities throughout the United States.
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "projects," "expects," "plans," "intends" and similar expressions. Similarly, statements herein that describe the company's business strategy, outlook, objectives, plans, intentions or goals are also forward-looking statements. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the company's actual results, performance or achievements to differ materially from those expressed in, or implied by, such statements. Factors that could cause actual results to differ from those implied by the forward-looking statements contained in this report are set forth in the company's Annual Report on Form 10-K for the year ended December 31, 2005, Quarterly Reports on Form 10-Q for the quarter ended March 31, 2006, Current Reports on Form 8-K, and its Registration Statement on Form S-3. These statements reflect the company's current beliefs and are based upon information currently available to it. Be advised that developments subsequent to this report are likely to cause these statements to become outdated with the passage of time.
AMN Healthcare is the nation’s largest provider of high-quality healthcare professionals in temporary, contract and permanent positions. We partner with healthcare facilities to achieve their staffing goals and earn their trust by delivering value and excellence in service.
When staffing supply doesn't meet demand at your facility, travel nurses and allied health care professionals help to bridge the gap and offer the continuity of patient care you seek. Our seven travel staffing brands give you access to the largest network of qualified travel healthcare professionals in the industry.
You want the best healthcare professionals in the industry. We know how to find them. By establishing a strong Internet presence with our Web portal sites and company brand sites, we have been able to recruit highly qualified professionals from across the nation and around the world.
We also offer our clients the opportunity to advertise their permanent positions on our NursingJobs.com Web site, one of the nation's leading nursing jobs posting boards.
Continuing Education and Proficiency Testing
We are dedicated to providing our healthcare professionals with the highest quality, fully accredited continuing education. Our service partner, RN.com, offers more than 200 contact hours and provides our travelers with an efficient and professional way to keep their licenses current.
By adding O'Grady-Peyton International to our family of travel nursing brands in 2001, we extended our recruitment reach to several English-speaking foreign countries, thereby increasing our network of highly qualified healthcare professionals.
AMN works with you to develop customized service programs that are tailored to your specific needs. Additional services are available through special arrangement for Vendor Management Services, Permanent Placement and other customized services. Our experience and commitment to superior customer service gives us an advantage in providing healthcare staffing solutions for you.
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