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AMN Healthcare’s USD 475 Million deal

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Market summary:

Maltese market closed in green on Thursday, with MSE total index ending the session 0.009% higher to 9,475.577 points. Best performer was Mapfre Middlesea plc with 5.45% surge to close at 2.32, followed by 1.96% jump of BMIT Technologies plc and 1.46% gain of Malta International Airport plc which closed at 0.52 and 6.95 respectively. Biggest fall of 3.47% was seen from PG plc with closing price of 1.95, followed by 2.78% drop of HSBC Bank Malta plc with closing price of 1.05.

European stocks fell sharply on Thursday as the death toll and number of confirmed coronavirus cases in China continued to rise overnight, amid reports of multinationals in the country moving to curtail their activity for the time being. By the end of trading, the benchmark Stoxx 600 was down by 1.01% to 415.16, alongside a fall of 1.41% to 13,157.12 for the German Dax while the Cac-40 had retreated 1.41% to 5,871.77.

US stocks closed higher on Thursday as indices were buoyed by a solid rally late in the session despite the World Health Organisation declaring the Wuhan coronavirus a global emergency. At the close, the Dow Jones Industrial Average was up 0.43% at 28,859.44, while the S&P 500 was 0.31% stronger at 3,283.66 and the Nasdaq Composite saw out the session 0.26% firmer at 9,298.93.

AMN Healthcare to Buy Interpreting Provider Stratus Video for USD 475 Million

Stratus Video, a Clearwater-based video interpretation and telehealth services provider, has been acquired for $475 million by AMN Healthcare Services Inc., a San Diego-headquartered health care staffing service. The deal is expected to close late February or early March and will be funded through borrowings under the existing credit facility as well as cash on hand.

Stratus Video has grown tremendously since its founding in 2012. According to reports, the company passed $100 million in revenue in 2019 and its 12-month annual run rate was roughly $119 million of revenue. In 2017, it was named a Tampa Bay Business Journal Fast 50 honouree.

It has offices in Winter Park, Florida, Dallas and Costa Rica. Stratus has more than 3,000 interpreters and serves more than 1,600 clients.

The company provides remote video interpretation, over-the-phone interpretation and in-person interpretation. It also has a mobile app for customers to schedule appointments and provides multiple telehealth platforms.

This article was issued by Nadiia Grech, Junior Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article are being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.