Staffing and workforce administration firm ShiftMed has acquired workforce options managed-service supplier CareerStaff Limitless in a cope with post-acute-care supplier Genesis HealthCare.
As a part of the seven-year settlement, ShiftMed will present companies to 200 expert nursing and 1,200 Powerback Rehabilitation facilities for Genesis.
CareerStaff’s per diem and MSP platform allows healthcare suppliers to rent employees, thus consolidating over 1,000 staffing corporations nationwide right into a singleVMS platform. The corporate manages scheduling, credentialing, shift affirmation and bill reconciliation for nursing.
ShiftMed provides workforce administration options akin to ShiftMed Flex and ShiftMed On Demand.
The ShiftMed Flex cellular app permits inside employees to fill scheduling gaps, whereas ShiftMed On Demand helps programs cut back reliance on journey nursing by filling open shifts with native nurses and increasing native nursing float swimming pools.
“The mixing of CareerStaff with ShiftMed permits us to meet 100% of our purchasers’ On Demand wants via one workforce platform. By merging ShiftMed’s acclaimed mobile-first suite of merchandise with CareerStaff’s top-tier MSP answer, we’re establishing the business’s first end-to-end digital MSP,” Todd Walrath, CEO of ShiftMed, stated in a press release.
THE LARGER TREND
In 2021, ShiftMed raised $45 million in funding, led by Panoramic Ventures and Healthworx, the funding arm of CareFirst Holding. Traders Blue Heron Capital, Motley Idiot Ventures and 3TS Capital Companions additionally participated within the spherical.
The Virginia-based firm closed a $200 million funding spherical in February of 2023. The funding was led by Panoramic Ventures, with further funds from Audacious Capital and Blue Heron Capital. The corporate deliberate to increase its nationwide choices with the funding.
Moreover, the corporate launched ShiftAdvisor in January, which makes use of AI for nursing scheduling and staffing efficiencies. Platform customers obtain AI scheduling recommendations via the platform which might be tailor-made to a person’s day, shift, pay and site preferences.
A number of different nursing staffing platforms have seen giant investments in recent times.
Nurse-staffing market Unbelievable Well being bagged $80 million in Sequence B funding in 2022 in a spherical led by Base10 Companions. Further funding got here from Andreessen Horowitz, Rethink Affect, Stardust Fairness, 444 Capital Fund and Apparent Ventures. The spherical introduced the startup’s valuation to $1.65 billion.
Fellow healthcare-staffing startup ShiftKey raised $300 million final 12 months with funding from Lorient Capital, Ares Administration Secondaries and Pantheon. ShiftKey’s platform permits nurses to seek for native per diem shifts and bid for them.
