AMN Healthcare Services purchased a language interpretation company serving ASCs, health systems and hospitals for $475 million, according to a Jan. 29 announcement.
Four insights:
1. AMN Healthcare bought Stratus Video from Kinderhook Industries, a private investment firm. The healthcare staffing firm plans to finance the transaction through cash on hand as well as borrowings under an existing credit facility.
2. The acquisition is subject to regulatory approval and expected to close by early March.
3. With more than 3,000 interpreters and 1,600 clients, Stratus offers remote video, over-the-phone and in-person interpretation services through its proprietary technologies.
4. In 2019, Stratus merged with rival company InDemand Interpreting and surpassed $100 million in revenue. The company's patient program management business was spun off into a separate company in 2018.
"Qualified healthcare interpretation, which is mandated by federal and many state regulations, is a service that many healthcare organizations do not have the resources to provide for themselves," said AMN Healthcare CEO Susan Salka. "This acquisition also helps further deliver on AMN's commitment to help deliver quality, compassionate patient care, reduce complexity, increase efficiency and improve the patient and clinician experience."