case studies : medical staffing start-up
Client Type: Medical Staffing Start-up
Challenge: A temp industry veteran wanted to start a nurse-staffing business. However, he needed seed capital and the management and operational expertise to handle rapid growth. Ultimately, this client would need help in successfully selling the company.
Solution: advance partnered with this company through each stage of development, culminating in the three-year-old company's selling for more than $15,000,000.
This experienced staffing manager could see that medical staffing was the fastest-growing segment in the temp industry. He had the contacts, the sales expertise, and the drive to quickly build a leader in the travel-nursing niche.
Based on his background and his prior relationship with advance, we loaned the company the initial seed capital necessary for start-up. As the company quickly grew in market share, advance's help grew beyond capital. advance spent hours with the client developing pricing models and payroll and billing procedures, and working with its customers for timely payment. When the pace of growth accelerated in year two, advance made additional cash-flow loans and even helped purchase and implement a new software application.
When potential buyers started contacting the company, advance was there to provide advice and to help in preparation of due diligence materials. After three years of hard work and dedication, this company was sold to a larger medical staffing firm for more than $15,000,000.