Corporate Resource Services, Inc acquires Tri-Overload Staffing Inc.
Corporate Resource Services, Inc, a US national provider of temporary and permanent staffing services, has announced that it has acquired Tri-Overload Staffing Inc. from an of Tri-State Employment Services, Inc. Tri-Overload Staffing, now known as Insurance Overload Services, Inc., is in the business of providing temporary and permanent employment staffing services and related support services principally to the insurance industry. The purchase price was approximately $6.2 million which was paid through the issuance of approximately 8,590,000 shares of the Company's common stock.
Tri-Overload Staffing had sales of approximately $20 million for the nine-month period ending March 31, 2010. The company has over 20 offices throughout the United States.
AMN Healthcare Services, the San Diego-based nursing staffing company, said Sept. 1 it completed the purchase of the parent firm of Texas-based Nursefinders Inc., a provider of clinical work force managed services programs and nurse staffing services.
When the stock transaction was announced in July, AMN said its value, based on its stock price the day before the definitive agreement was signed, was about $220 million, including assuming $132 million in debt of the acquired company.
After the completion of the deal, shareholders of the acquired firm, Medfinders, would own about 26 percent of AMN Healthcare.
AMN said the acquisition will generate annual cost savings of $8 million, and will result in additional operating earnings of more than $2 million by the fourth quarter of 2011.
Shares of AMN Healthcare, traded on the New York Stock Exchange under AHS, were up 12 cents by midday Sept. 1, and have ranged from $4.14 to $11 over the past 52 weeks.