AMN Healthcare Services, Inc. (NYSE:AMN) signed definitive agreement to acquire Medical Search International and Dr. Wanted Healthcare Staffing (together as "MSDR") for aggregate cash consideration of approximately $300 million on October 23, 2023. The closing of the acquisition of MSDR is subject to certain customary conditions and approval by regulatory authorities. Chris Wang, Chief Executive Officer, Managing Partner of DRW, will remain with the business as President of MSDR. MSDR revenue was $104 million in 2022. AMN expect the deal will be modestly accretive to adjusted EPS in the first twelve months. The acquisition, subject to regulatory approvals and customary closing conditions, is expected to close in the fourth quarter of 2023. This transaction is expected to be funded with a combination of cash on hand and borrowings on revolving credit facility.

Wells Fargo Securities served as exclusive financial advisor to AMN for this transaction, and legal counsel was provided by Daniel Belzer and Josh McLane, Dmitriy Chelnitsky, Leo Caseria, Townsend Bourne, Justin Hepworth, John Crisp, Shawn Fabian, Phil Kim, Sara Shanti and Michael Chan of Sheppard Mullin. Nolan & Associates acted as exclusive financial advisor to MSDR, and Jennifer Feldsher, Charles Vandenburgh, and Greer Longer of Morgan Lewis provided legal counsel.

AMN Healthcare Services, Inc. (NYSE:AMN) completed the acquisition of Medical Search International and Dr. Wanted Healthcare Staffing (together as "MSDR") on November 30, 2023.