Cross Country Healthcare, Inc. (CCRN): History, Ownership, Mission, How It Works & Makes Money

Ever wondered how healthcare facilities bridge staffing gaps with skilled professionals? Cross Country Healthcare, Inc. (CCRN) stands as a pivotal talent management service in the United States, reporting revenues of $1.34B last quarter. But how exactly does this company operate, who owns it, and what's its mission in the healthcare landscape? Keep reading to discover how Cross Country Healthcare helps shape the healthcare workforce, impacting both professionals and patients alike.

Cross Country Healthcare, Inc. (CCRN) History

Cross Country Healthcare, Inc. Founding Timeline

Year established

The company was established in 1986.

Original location

The original location is not explicitly mentioned in the provided context. Further research would be needed to confirm the exact founding location.

Founding team members

The founding team members are not explicitly mentioned in the provided context. More research would be needed to identify the individuals involved in the initial establishment of the company.

Initial capital/funding

Information about the initial capital or funding is not available in the provided context. Further research would be necessary to determine the initial financial resources that supported the company's launch.

Cross Country Healthcare, Inc. Evolution Milestones

Cross Country Healthcare, Inc. Transformative Moments

• Strategic Acquisitions: The company has grown significantly through strategic acquisitions, expanding its service offerings and market reach. Key acquisitions include Medical Doctor Associates, US Nursing Corporation, and Vista Staffing Solutions.
• Response to COVID-19 Pandemic: The company played a crucial role in addressing healthcare staffing shortages during the COVID-19 pandemic, demonstrating its ability to quickly mobilize and deploy healthcare professionals to areas of critical need.
• Expansion into MSP and VMS: The acquisition of MedStaff enhanced the company's capabilities in providing managed services programs (MSP) and vendor management systems (VMS), diversifying its service offerings and increasing its value proposition to healthcare clients.
• Focus on High-Growth Segments: The acquisition of Mint Medical Physician Staffing in 2022 highlights the company's focus on expanding its presence in high-growth segments such as locum tenens.

To gain more insights into the company's financial performance, you might find this resource helpful: Breaking Down Cross Country Healthcare, Inc. (CCRN) Financial Health: Key Insights for Investors.

Cross Country Healthcare, Inc. (CCRN) Ownership Structure

Cross Country Healthcare, Inc. operates with a mixed ownership structure, featuring a combination of institutional, insider, and retail investors, which influences its governance and strategic direction.

Cross Country Healthcare, Inc.'s Current Status

Cross Country Healthcare, Inc. is a publicly traded company, listed on the Nasdaq Stock Market under the ticker symbol CCRN. This means that its shares are available for purchase by the general public, and the company is subject to regulations and reporting requirements set forth by the U.S. Securities and Exchange Commission (SEC).

Cross Country Healthcare, Inc.'s Ownership Breakdown

Understanding the ownership structure of Cross Country Healthcare, Inc. provides insights into who has influence over the company’s decisions. The following table breaks down the ownership percentages held by various types of shareholders as of data available in 2024:

Cross Country Healthcare, Inc.'s Leadership

The leadership team plays a crucial role in guiding Cross Country Healthcare, Inc.'s strategy and operations. Key members of the leadership team include:

• John A. Martins: President and Chief Executive Officer
• William J. Burns: Executive Vice President and Chief Financial Officer

For more detailed insights into Cross Country Healthcare, Inc.'s investor profile, you might find this resource helpful: Exploring Cross Country Healthcare, Inc. (CCRN) Investor Profile: Who’s Buying and Why?

Cross Country Healthcare, Inc. (CCRN) Mission and Values

Cross Country Healthcare aims to deliver exceptional care and staffing solutions, guided by its core values that emphasize integrity, collaboration, and innovation.

Cross Country Healthcare's Core Purpose

Official mission statement

Cross Country Healthcare's mission statement reflects its dedication to providing comprehensive healthcare workforce solutions. While a specific, formally published mission statement can be difficult to pinpoint, their actions and public statements emphasize a commitment to:

• Delivering high-quality staffing and workforce solutions to the healthcare industry.
• Connecting healthcare professionals with rewarding career opportunities.
• Supporting clients in providing exceptional patient care.

Vision statement

While a specific vision statement may not be formally published, Cross Country Healthcare's vision is evident in its strategic goals and industry presence. The company aims to:

• Be a leading provider of innovative healthcare workforce solutions.
• Drive positive outcomes for healthcare professionals, clients, and patients.
• Expand its service offerings and market reach through strategic growth initiatives.

Company slogan/tagline

Cross Country Healthcare uses taglines and messaging that highlight its core services and values. These include:

• 'The Future of Healthcare Talent.'
• Emphasizing their role in connecting talented healthcare professionals with healthcare facilities nationwide.
• Focusing on providing comprehensive solutions that address the evolving needs of the healthcare industry.

To gain more insights into the financial aspects of Cross Country Healthcare, you might find this resource helpful: Breaking Down Cross Country Healthcare, Inc. (CCRN) Financial Health: Key Insights for Investors

Cross Country Healthcare, Inc. (CCRN) How It Works

Cross Country Healthcare, Inc. operates as a leading provider of healthcare staffing and workforce solutions, connecting healthcare professionals with hospitals, medical facilities, and other healthcare organizations across the United States.

Cross Country Healthcare, Inc.'s Product/Service Portfolio

Cross Country Healthcare, Inc.'s Operational Framework

Cross Country Healthcare operates through a network of branch offices and online platforms, connecting healthcare professionals with employment opportunities. The company's operational framework includes:

• Recruitment and Screening: Identifying, recruiting, and screening qualified healthcare professionals through various channels, including online job boards, social media, and professional networks.
• Credentialing and Compliance: Verifying credentials, conducting background checks, and ensuring compliance with regulatory requirements and client-specific policies.
• Placement and Assignment: Matching healthcare professionals with suitable assignments based on their skills, experience, and preferences, while also considering client needs and requirements.
• Ongoing Support and Management: Providing ongoing support and management to healthcare professionals throughout their assignments, including payroll, benefits administration, and performance monitoring.
• Technology and Innovation: Investing in technology and innovation to enhance the efficiency and effectiveness of its operations, including online platforms for job searching, application processing, and communication.

To delve deeper into the ownership and investment aspects, you might find this resource insightful: Exploring Cross Country Healthcare, Inc. (CCRN) Investor Profile: Who’s Buying and Why?

Cross Country Healthcare, Inc.'s Strategic Advantages

Cross Country Healthcare maintains several strategic advantages that contribute to its success in the healthcare staffing and workforce solutions market:

• Scale and Scope: One of the largest healthcare staffing companies in the United States, with a national presence and a broad range of service offerings.
• Established Relationships: Strong relationships with a diverse client base, including hospitals, medical centers, and healthcare systems of all sizes.
• Extensive Network: Access to a vast network of healthcare professionals, including nurses, physicians, and allied health professionals.
• Specialized Expertise: Deep expertise in healthcare staffing and workforce solutions, with a focus on meeting the unique needs of its clients and healthcare professionals.
• Technology-Enabled Solutions: Investments in technology and innovation to improve the efficiency and effectiveness of its operations and enhance the customer experience.
• Commitment to Quality: Dedication to providing high-quality staffing and workforce solutions, with a focus on patient safety and satisfaction.

Cross Country Healthcare, Inc. (CCRN) How It Makes Money

Cross Country Healthcare, Inc. primarily generates revenue by providing healthcare staffing and workforce solutions, connecting healthcare professionals with hospitals, medical facilities, and other healthcare organizations.

Cross Country Healthcare, Inc.'s Revenue Breakdown

Cross Country Healthcare, Inc. reported total revenue of $1.04 billion for the fiscal year 2024. A detailed breakdown shows the composition of this revenue across its different segments.

Cross Country Healthcare, Inc.'s Business Economics

Cross Country Healthcare, Inc.'s business economics are influenced by several key factors:

• Demand for Healthcare Professionals: The persistent shortage of nurses, physicians, and allied health professionals significantly drives demand for staffing services.
• Market Rates: The rates charged for staffing services are influenced by market conditions, including competition, geographic location, and the specialized skills required.
• Contract Terms: Revenue is generated through contracts with healthcare facilities, which typically include agreed-upon rates, durations, and service level agreements.
• Economic Conditions: Broader economic factors, such as healthcare spending trends and government regulations, impact the overall financial health of the company.

To gain more insight into the values that drive the company, check out Mission Statement, Vision, & Core Values of Cross Country Healthcare, Inc. (CCRN).

Cross Country Healthcare, Inc.'s Financial Performance

Key aspects of Cross Country Healthcare, Inc.'s financial performance include:

• Revenue: In 2024, Cross Country Healthcare, Inc. reported a revenue of $1.04 billion.
• Gross Profit: The gross profit for 2024 was $270.9 million, representing a gross margin of approximately 26.1%.
• Net Income/Loss: For 2024, the company experienced a net loss of $23.5 million, significantly impacted by a goodwill impairment charge.
• Adjusted EBITDA: The adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) was $64.1 million in 2024.
• Cash Flow: The company’s cash flow from operations was $38.4 million for the year 2024.

These metrics provide a snapshot of Cross Country Healthcare, Inc.'s financial health and operational efficiency in a dynamic healthcare environment.

Cross Country Healthcare, Inc. (CCRN) Market Position & Future Outlook

Cross Country Healthcare is a key player in the healthcare staffing industry, navigating a landscape ripe with opportunities and challenges. The company's future success hinges on capitalizing on market trends while mitigating potential risks.

Competitive Landscape

The healthcare staffing market is competitive. Below is a hypothetical representation of market share and key advantages as of April 2025.

Opportunities & Challenges

Here's a look at potential opportunities and risks facing Cross Country Healthcare:

Industry Position

Cross Country Healthcare maintains a strong position within the healthcare staffing industry. Key aspects of their industry standing include:

• A diversified portfolio of staffing solutions, including travel nursing, allied health, and physician staffing.
• A focus on building long-term relationships with healthcare providers.
• Investment in technology to improve recruitment and staffing efficiency.

To delve deeper into the financial health of Cross Country Healthcare, explore Breaking Down Cross Country Healthcare, Inc. (CCRN) Financial Health: Key Insights for Investors.