Positions All Star to Capitalize on
Significant Growth Opportunities
SAN
FRANCISCO and DEERFIELD BEACH, Fla.,
May 2,
2024 /PRNewswire/ -- Knox Lane, a
growth-oriented investment firm, today announced it has acquired a
majority stake in All Star Healthcare Solutions ("All Star" or the
"Company"), a premier, full-service healthcare staffing firm
focused exclusively on the locum tenens market. All Star's founders
and management team will reinvest alongside Knox Lane and continue
to own a significant minority stake in the Company going forward.
The partnership will support the Company's next phase of growth
both organically and through strategic acquisitions and will drive
continued investment in technology throughout the organization.
Terms of the transaction were not disclosed.
Based in Florida, All Star is a
top ten specialty-focused provider of locum tenens placement
opportunities for physicians and advanced practitioners and is one
of the fastest-growing locum tenens firms in the U.S. All Star's
blue-chip customer base includes more than 150 unique hospital
systems and over 400 individual healthcare facilities, including
some of the top medical institutions in the country. Widely
recognized for its differentiated "red carpet" service and support
for both providers and clients, All Star's specialty-focused
production teams deliver diverse coverage, deep internal knowledge
and provider depth across all significant subspecialties.
Knox Lane's partnership will support the Company's next phase of
growth through the continued expansion of All Star's consultant
base, direct sales force and specialty-focused production teams;
investment in technology and workforce solutions capabilities; and
development of strategic acquisitions.
"We're thrilled to partner with Knox Lane to build on the
momentum across our business and enter our next chapter of growth,"
said Ken Bernstein, Chief Executive
Officer and President at All Star. "We look forward to leveraging
Knox Lane's significant and direct expertise in the sector and
operational resources to build on our strong foundation and
capitalize on the many organic and strategic growth opportunities
ahead."
Shamik Patel, Partner at Knox
Lane, and Brent Gunderson, Managing
Director at Knox Lane, commented, "All Star is a well-known leader
in the healthcare staffing industry, and its robust foundational
infrastructure, top-tier services and talented professionals have
uniquely enabled the Company to outperform the broader market. All
Star is well-positioned to capitalize on the long-term market
tailwinds as the demand for locum tenens solutions continues to
rise, and we look forward to leveraging our past experience to
support Ken and the entire All Star team in scaling and growing the
business."
Keith Shattuck, Craig Shattuck, and Matt
Young, Co-Founders of All Star, added, "This marks an
exciting milestone for All Star. Over the past two decades, the
talented management team has established a strong track record and
reputation as a trusted business in the industry known for
delivering differentiated solutions for clients. With Knox Lane's
partnership, All Star is even better positioned for continued scale
and success in the future."
"We are excited to welcome the All Star team to the Knox Lane
family," said John Bailey, Managing
Partner at Knox Lane. "All Star has a deeply experienced management
team with a proven, consistent track record of growth, and we are
pleased to partner with another high-quality, founder-owned
business. We look forward to working with All Star's exceptional
team and leveraging our direct sector experience, operational
resources and proven value-creation playbook to further advance the
Company's leadership position."
BofA Securities, Inc. served as the exclusive financial advisor
and McGuire Woods LLP acted as legal counsel to All Star.
Houlihan Lokey, Inc. served as
financial advisor and Kirkland & Ellis LLP acted as legal
counsel to Knox Lane.
About All Star Healthcare Solutions
All Star is
a provider of specialty-focused locum tenens and permanent
placement opportunities for physicians and advanced practitioners
in the U.S. and is one of the fastest-growing locum
tenens staffing firms in the country. Headquartered in Florida, All Star provides its services across
all 50 states to 150+ unique hospital systems and 400+ individual
healthcare facilities, serving a diverse customer base consisting
of some of the top medical institutions in the country. All Star is
widely recognized for its differentiated "red carpet" service,
driven by strategically crafted individual sales teams around key
specialties, and its exceptional support for providers and clients.
For more information, please visit
www.allstarhealthcaresolutions.com.
About Knox Lane
Based in San Francisco, Knox Lane is a growth-oriented
investment firm comprised of a team of accomplished investors and
operators with a shared work history and a strong track record of
partnering with leading companies to accelerate transformational
growth. Knox Lane employs an investor-operator mindset
and seeks to provide support across a number of business
components, including human capital, brand management, end-to-end
digital transformation, sourcing, supply chain and
logistics, strategic acquisitions and business development. For
more information, please visit
www.knoxlane.com.
Media Contact
Woomi Yun
/ Erik Carlson
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
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SOURCE Knox Lane