Knox Lane to Buy Cross Country Healthcare for $437 Million at 31% Premium
Cross Country Healthcare will be acquired by Knox Lane in an all-cash deal valued at $437 million, paying $13.25 per share. The offer represents a 31% premium to the May 6 closing price and anticipates closing in third quarter 2026 pending stockholder and regulatory approvals.
1. Deal Terms and Valuation
Knox Lane will acquire all outstanding shares of Cross Country Healthcare for $13.25 per share in an all-cash transaction valued at $437 million, reflecting a 31% premium to the May 6 closing price and a 45% premium to its 90-day volume-weighted average price. The transaction will delist the company from Nasdaq and transition it into a privately held platform within Knox Lane’s portfolio.
2. Strategic Rationale and Management Commentary
Cross Country Healthcare’s CEO highlighted the strength of its AI-powered Intellify® platform and four decades of healthcare workforce expertise as key assets that Knox Lane intends to leverage. Knox Lane’s managing partners emphasize plans to enhance digital transformation, human capital, and strategic acquisitions to accelerate growth and optimize the labor ecosystem.
3. Closing Conditions and Timeline
The transaction is expected to close in the third quarter of 2026, subject to approval by Cross Country Healthcare stockholders and customary regulatory conditions. Upon completion, the company will continue operating under its existing brand, and further details will be disclosed in upcoming proxy materials.