|
 THE RESULT: Caymus Partners was the exclusive financial advisor to Interim HealthCare, Inc. ("Interim" or the "Company") relating to the Company's recent
distribution of its locum tenens business, Interim Physicians and its assets, to TeneCore Healthcare (the "Spin-off"). Caymus Partners presented a
detailed financial analysis outlining the benefits of the proposed Spin-off to management of Interim Healthcare. Interim believed that the value of the
spun-off assets can be increased more effectively in TeneCore Healthcare and the Spin-off will also enable the Company to sharpen its focus on its
core operations.
"From start to finish, the Caymus team demonstrated exceptional industry expertise and a commitment to the highest levels of service and professionalism. Given the complexity of the transaction, it was crucial to have an investment bank to help us prepare for the transaction and to find the right partner to take Interim Physicians to the next level. Caymus professionals conducted significant due diligence helping us identify and address potential issues arising from the transaction. The experienced professionals that Caymus committed to the
transaction were key to the ultimate success of the deal."
Michael P. Slupecki, Chief Financial Officer
Interim Healthcare, Inc.
|
Company Description
Interim HealthCare is a leading national home care and medical staffing company. The firm provides diverse
services including home care services, medical staffing, occupational health, Site Solutions VMS program and
administrative nursing support services for hospitals, prisons, schools, corporations and other health care
facilities. Interim Physicians, a subsidiary of Interim HealthCare, is a leading provider of locum tenens staffing and
physician permanent placement services across a broad range of medical specialties. Interim Physicians has a
successful two-decade plus track record placing physicians on a temporary basis (locum tenens) as independent
contractors with various healthcare organizations, including leading hospitals, medical groups, occupational
medical clinics, individual practitioners, networks, psychiatric facilities, government institutions, and managed
care entities. The Company also provides permanent physician placement services to hospitals, healthcare
facilities and physician practice groups.
Client Objective
Interim HealthCare's Board of Directors has sought to pursue a spin-off transaction of its locum tenens division in order to enable Interim HealthCare's management to focus solely on the parent's core home healthcare franchising business.
Challenges Overcome
Caymus Partners overcame a number of key challenges in making this transaction successful:
- Identifying the Right Buyers. Caymus Partners identified a pool of potential acquirers and partners that had interest and experience in this type of transaction;
- Positioning the Company. Caymus Partners created an information memorandum, which served as the basis for the Company's initial business plan, and a management presentation that generated broad interest from the marketplace;
- Discussions with Board and Management. Caymus Partners presented and discussed the analysis with the Company's board of directors and senior management team and provided additional analyses on an as-needed basis; and
- Generating Rapid Interest. Caymus Partners leveraged its extensive database to contact numerous potential acquirers
| 
