NASHVILLE—HealthStream, a health care technology platform company for workforce solutions, acquired MissionCare Collective LLC, a health care workforce company, for a purchase price of up to $40 million.
The final price consists of a closing cash payment of $26 million, approximately $4 million in shares of HealthStream common stock issued at closing through a private placement, and up to $10 million of cash earnout payments subject to achievement of agreed upon targets over the next three years. Through the acquisition, HealthStream adds its third "career network" to its workforce ecosystem.
“We built MissionCare Collective to help change the culture of care,” said Brandi Kurtyka, co-founder and CEO of MissionCare Collective. “By joining HealthStream, we can extend that vision to reach more caregivers, clinicians and health care organizations—helping the industry to recruit, engage and retain their workforce while advancing our shared commitment to improve the quality of healthcare by investing in the people who deliver it.”
MissionCare Collective’s flagship product is myCNAjobs.com, a job site for connecting both non-medical caregivers and CNAs with job placement and numerous job-related programs. Over 5.2 million people are currently in the myCNAjobs caregiver career community.
The suite of solutions and career tools offered by MissionCare Collective will be comprised of caregivers that may work in the wide range of care settings, including home environments, long-term care organizations, assisted living facilities, hospitals and hospice organizations.
“We are delighted to welcome MissionCare Collective’s clients, partners, employees and the millions of caregivers they are dedicated to serving to HealthStream,” said Robert A. Frist, Jr., CEO, HealthStream. “I believe MissionCare’s smart, technologically-savvy approach to addressing the urgent need for caregiver workforce solutions, coupled with their passionate commitment to excellence, is unmatched and unprecedented. Alongside the widespread adoption of HealthStream’s hStream platform where millions of health care professionals are served every day, the addition of MissionCare Collective extends our reach to the rapidly growing caregiver workforce, creating synergies and adding value for everyone involved.”