We are advising Cross Country Healthcare on the transaction

Davis Polk is advising Cross Country Healthcare, Inc. on its acquisition by Aya Healthcare for $18.61 per share in cash in a transaction valued at approximately $615 million. Completion of the transaction is expected in the first half of 2025, subject to the approval of Cross Country stockholders and the satisfaction of other customary closing conditions, including regulatory approvals. Upon completion of the transaction, Cross Country will become a private company and its common stock will no longer trade on Nasdaq.

Cross Country Healthcare is a market-leading, tech-enabled workforce solutions and advisory firm with 38 years of industry experience and insight. It helps clients tackle complex labor-related challenges and achieve high-quality outcomes, while reducing complexity and improving visibility through data-driven insights.

Aya Healthcare is the largest healthcare talent software and staffing company in the United States. Aya operates the world’s largest digital staffing platform delivering every component of healthcare-focused labor services, including travel nursing and allied health, per diem, permanent staff hiring, interim leadership, locum tenens and non-clinical professionals.

The Davis Polk corporate team includes partners Oliver Smith and Brian Wolfe and associate Claire Fischer. Partner Jennifer S. Conway and counsel Charlotte R. Fabiani are providing executive compensation advice. Partner William A. Curran is providing tax advice. Partner Pritesh P. Shah is providing intellectual property advice. Partner Howard Shelanski and associate Anna M. Kozlowski are providing antitrust and competition advice. Members of the Davis Polk team are based in the New York and Washington DC offices.

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