Competitive ConcernsThe FTC identified significant competitive concerns with Aya Healthcare’s proposed acquisition of Cross Country Healthcare, which would have eliminated head-to-head competition between two of the largest firms in the healthcare staffing market.
Merger TerminationAya Healthcare terminated the merger agreement with Cross Country due to the uncertainty, time, and resource burden that could result from a potential challenge to the merger by the U.S. Federal Trade Commission.
Revenue DeclineCross Country reported 3Q revenue of $250M, down 21% and Nurse & Allied Staffing revenue of $202M was down 24%.