TeamStaff, Somerset, N.J., signed a definitive agreement to acquire fellow healthcare staffing firm RS Staffing, Monroe, Ga., in an $8 million deal. TeamStaff will pay $3.25 million in cash, $1.75 million in common stock and a $3 million, two-year note for the company. RS Staffing reported pre-tax income of $900,000 on revenue of $40 million in 2004, a news release said. TeamStaff, meanwhile, lost $4 million on revenue of $37.2 million in 2004, according to Securities and Exchange Commission filings. TeamStaff said the deal is expected to close in two weeks after officials negotiate employment agreements for two RS Staffing principals and terms of a revolving credit facility. -- by Melanie Evans
TeamStaff to expand in $8 million acquisition
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