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Acquisition further expands service offerings of Ingenovis Health, a leading diversified healthcare workforce solutions company backed by Cornell Capital and Trilantic North America
CINCINNATI and COTTONWOOD HEIGHTS, Utah , April 27, 2022 /PRNewswire/ -- Ingenovis Health, Inc. ("Ingenovis" or the "Company"), a leading healthcare workforce solutions company backed by private investment firms Cornell Capital and Trilantic North America, today announced that it has acquired VISTA Staffing Solutions ("VISTA") from Envision Physician Services. VISTA is a leading locum tenens healthcare staffing company with an extensive network of physicians and advanced practitioners nationwide serving hospitals, clinics, medical practices, and government agencies.
Formed in early 2021 by the combination of trustaff, Fastaff Travel Nursing®, U.S. Nursing Corporation® and CardioSolution, Ingenovis Health is one of the fastest-growing providers of healthcare workforce solutions in North America . The Company uses a holistic approach that combines shared service capabilities with enhanced technology to staff critical talent shortages within healthcare facilities and systems nationwide.
Founded in 1990 and headquartered in Cottonwood Heights, Utah , VISTA has established itself as a valued staffing partner to healthcare service providers by optimizing physician staffing and ensuring quality and continuity of patient care. The acquisition of VISTA further diversifies Ingenovis' service offerings and significantly extends the Company's ability to solve complex staffing challenges in the physician and advanced practitioner category.
"One of the most critical nationwide challenges we will face in the coming years will be the shortage of experienced healthcare providers, and we are doing everything we can to be part of the solution," said Bart Valdez , CEO of Ingenovis Health. "By adding VISTA to the Ingenovis Health family, we expand our ability to offer comprehensive solutions and provide critically needed physicians and advanced practitioners to a broader market of clients nationwide. We are excited to collaborate with VISTA's talented management team and benefit from their deep network of talented providers."
The VISTA brand will become part of the Ingenovis Physician Services division, led by President Sean Ebner . Specializing in the placement of locum tenens as well as permanent placement providers, VISTA complements the Company's physician services offerings which currently include highly specialized physician outsourced talent solutions by the CardioSolution brand.
"Adding on the industry-leading locum tenens expertise of the VISTA brand significantly increases our capabilities to serve our customers' physician and advanced practitioner talent needs," said Ebner. "The VISTA team brings extensive expertise to recruit and deploy highly qualified providers to virtually all types of clinical environments."
"Against the backdrop of a turbulent healthcare market, the healthcare systems are in strong need of locum tenens solutions," said Andrea Nelson , Chief Operating Officer of VISTA. "We are excited to join Ingenovis as we work to meet this growing demand, ensure continuity of care, and provide the support and resources necessary to reduce burnout among healthcare workers. Ingenovis, with the unwavering support of Cornell Capital and Trilantic North America, has an industry-leading management team, and we look forward to partnering with them to add new capabilities, expand geographic reach, and deliver additional services while ensuring high quality patient care."
"Today's acquisition of VISTA marks the next milestone in Ingenovis' accelerated growth strategy to address the staffing challenges in the healthcare industry," said Stephen Trevor , Partner at Cornell Capital. "VISTA's established base of commercial and government clients is complementary to Ingenovis' client profile, and their direct relationships with leading healthcare systems will broaden and strengthen the Ingenovis platform. Together, Ingenovis and VISTA are well positioned to grow market share and continue providing solutions for clients across the healthcare industry."
Davis Polk & Wardwell LLP is acting as legal advisor to Ingenovis, Cornell Capital and Trilantic North America. William Blair is acting as financial advisor to Envision Physician Services, and Bass, Berry & Sims, PLC is acting as legal advisor.
About Ingenovis Health Ingenovis Health is an ingenious new force in healthcare combining the power of industry-leading staffing firms and enhanced technology to advance delivery of critical healthcare clinicians to systems nationwide. Brands in the portfolio currently include trustaff, Fastaff Travel Nursing, U.S. Nursing Corporation, CardioSolution and HealthCare Support. For more information, visit www.ingenovishealth.com.
About VISTA Staffing Solutions VISTA Staffing Solutions has over thirty years of experience providing award-winning customer service to clients and providers alike. Headquartered in Salt Lake City with additional offices in Atlanta and Houston , employs approximately 1,000 people between corporate staff and field clinicians and contracts with over 2,500 physicians across 60+ specialties and subspecialties annually. VISTA helps U.S. hospitals, medical practices, and government agencies optimize their physician staffing, ensure quality and continuity of care for patients, and maintain financial stability. As a leading provider of U.S. Locum Tenens and Permanent Physician Search Services, VISTA also operates, VISTA Select, a first-of-its-kind technology and services solution utilizing advanced data and analytics to provide healthcare organizations with customizable workforce optimization solutions.
About Cornell Capital Cornell Capital LLC is a U.S.-based private investment firm with ~$6 billion of AUM and offices in New York and Hong Kong . Leveraging decades of global investment experience, the firm takes a disciplined approach to investing across the consumer, financial services, and industrials/business services sectors, often in companies that can benefit from the firm's Asia presence and cross-border expertise. Founded in 2013 by Senior Partner Henry Cornell, the former Vice Chairman of Goldman Sachs' Merchant Banking Division, the firm is led by a highly seasoned team with significant shared investment experience. For more information, visit www.cornellcapllc.com.
About Trilantic North America Trilantic Capital Management L.P. ("Trilantic North America") is a leading, growth-focused middle market private equity firm focused on control and significant minority investments in North America . Trilantic North America's primary investment focus is in the business services, consumer, and energy sectors. Trilantic North America has managed six private equity fund families with aggregate capital commitments of $9.7 billion . Trilantic North America has been recognized by Inc. Magazine's 2021 list of Top Founder-Friendly Investors and has been named one of Growthcap's 2021 Top 25 Private Equity Firms for Growth Companies. For more information, visit www.trilanticnorthamerica.com.
About Envision Physician Services Envision Physician Services is a leading multispecialty medical group and healthcare service team specializing in anesthesia, emergency medicine, hospital medicine, radiology, surgical services and women's and children's health services. Its clinical leadership guides evidence-based practices to deliver integrated, cost-effective care and improve patient outcomes. Envision Physician Services partners with facilities in 45 states and the District of Columbia and employs or contracts more than 25,000 clinicians. To learn more about Envision Physician Services, a division of Envision Healthcare Corporation, visit www.EnvisionPhysicianServices.com.
Ingenovis Health Lauren Pasquale Bartlett 719-641-4838 [email protected]
Cornell Capital Woomi Yun / Kate Thompson / Erik Carlson Joele Frank , Wilkinson Brimmer Katcher 212-355-4449
Trilantic North America Claire Walsh / Allison Devaney 646-818-9177 [email protected]
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