Washington, DC – Global private equity firm The Carlyle Group today announced that it has made a follow-on capital investment in portfolio company InteliStaf Healthcare, one of the largest healthcare staffing companies in the U.S. The funds will be used to expand services and hire additional staff. The Company’s founders and new management also invested additional equity at this time. Current investor RehabCare Group Inc, which had a subordinated equity position in the Company, has decided to forego its investment in InteliStaf. Financial terms of the follow-on equity investment were not disclosed. Bob Dahl, Managing Director and Co-head of Carlyle’s Healthcare team, said, "This additional funding, along with the vision and drive of newly-appointed CEO Mike Wilstead and CFO Mark Thomas, will enable InteliStaf to reach its full potential in today’s dynamic and growing healthcare sector. We’ve appreciated the input that John Short of RehabCare has provided and thank him for his time on the Board." Michael S. Wilstead, who joined InteliStaf as Chief Executive Officer in October 2005, said, "Carlyle’s continued support and confidence coupled with management’s personal financial commitment will ensure that InteliStaf has more than sufficient funding to achieve our growth agenda. As we focus on increasing our revenue base, these additional resources will better enable us to grow and expand in existing and new markets." Carlyle acquired a majority stake in InteliStaf in October 2000. The company provides flexible, tailored, temporary staffing of skilled nurses and other medical professionals on both short- and long-term assignments throughout the United States. * * * * * InteliStaf Healthcare
InteliStaf Healthcare is one of the largest healthcare staffing companies in the United States, operating nearly 70 offices and supporting more than 40,000 medical professionals. The company provides nurses, allied healthcare professionals, and other medical professionals to healthcare facilities on a temporary and contract basis. InteliStaf is at the forefront of vendor management services (VMS), creating and directing innovative solutions designed to meet its customers’ specific contract labor, patient care, and financial requirements. The company is the nationally recognized leader for such services. For more information, visit www.intelistaf.com/ . # # # |
