“With the growing demand for locum tenens clinical staff, this acquisition positions Parallon to provide enhanced staffing services that can help hospitals, medical groups and accountable care organizations thrive in today's dynamic healthcare environment,” Parallon President and CEO Michael O'Boyle said in the release.
O'Boyle said in an interview that Parallon previously provided locum tenens, or temporary placements, through a network of 23 subcontracts, and the acquisition provides an opportunity to grow that part of the business. The company's workforce division, which includes about 7,000 employed pool nurses, has annual revenue of $350 million to $400 million, and Martin, Fletcher has annual revenue of about $20 million, O'Boyle said.
Martin, Fletcher counts more than 200 clients across the country through a network of more than 70 employees.
For-profit HCA, Nashville, announced the creation of Parallon in 2011 to sell revenue-cycle management, payroll and physician-credentialing services to hospitals.