Cross Country Education Announces Acquisition of Selected

Rhea-AI Summary

Cross Country Education, a division of Cross Country Healthcare (NASDAQ: CCRN), has acquired the assets of Selected, a cloud-based talent platform that connects educators with schools. This acquisition enhances Cross Country's digital transformation strategy while addressing severe educator shortages exacerbated by the COVID-19 pandemic. Selected's platform will improve hiring processes for schools, providing access to over 50,000 educators. This move aims to foster a sustainable pipeline of qualified teachers, furthering Cross Country's commitment to supporting the education sector.

Positive

• Acquisition of Selected enhances Cross Country's digital transformation strategy.
• Selected offers a platform connecting over 50,000 educators with schools.
• Addresses severe staffing shortages in education, providing a sustainable hiring solution.

Negative

• None.

New Platform Provides General and Special Education Staffing Support as a Part of Cross Country Healthcare’s Digital Transformation

BOCA RATON, Fla.--(BUSINESS WIRE)-- Cross Country Education, a division of Cross Country Healthcare, Inc., (NASDAQ: CCRN), has acquired substantially all the assets of Selected, a cloud-based matching and hiring talent platform that pairs educators with schools based on mutually shared preferences to ensure a tailored and long-term fit.

“Cross Country is investing in new ways for organizations to nurture and create talent pools to ensure a balanced talent equilibrium across the healthcare and education industries,” said Kevin C. Clark, co-founder, and chief executive officer of Cross Country Healthcare. “This latest acquisition, a SaaS subscription-based offering, expands our tech-based capabilities and advances our digital transformation strategy in the education space.”

The acquisition of Selected builds on Cross Country Education’s educator-led, student-driven, and solutions-oriented offerings to the communities that it serves, while supporting Cross Country Healthcare’s ongoing digital transformation efforts which leverage the latest-generation of tech-enabled and data-driven strategies to support the organization’s solution-oriented offerings and the communities it serves.

“Schools need a sustainable pipeline of diverse and qualified educators to help resolve staffing strains and shortages,” said Waine Tam, chief executive officer of Selected, “we are excited to join Cross Country Education and the Cross Country family, particularly during such a critical time for education.”

Nationwide, these shortages have been made far worse due to the ongoing COVID-19 pandemic. According to a 2021 EdWeek Research Center survey, 40 percent of district leaders and principals said that their current staff shortages are considered “severe” or “very severe.” Further, 77 percent of respondents said that they struggled to hire enough substitute teachers and 55 percent said that they struggled to fill paraprofessionals and instructional aide positions.

Selected’s innovative candidate matching platform, integrated into Cross Country Education’s support and delivery model will help to ensure a seamless hiring method for educators and other teaching staff in local markets through automated targeting and increased discoverability.

About Selected

Trusted by more than 1,500 PK-12 schools nationwide, Selected aims to ensure schools have access to diverse, qualified, and relevant teachers for less. The current candidate pool includes more than 50,000 educators (teachers, school leaders, and school counselors) and is growing daily. The company operates throughout the U.S. connecting educators with their ideal jobs, and filling hiring gaps in education. For more information, please visit getselected.com.

About Cross Country Education

Cross Country Education is an educator-led, student-driven, and solutions-oriented division of Cross Country Healthcare. With over 75 years of combined expertise in the education field, the education division provides resources on engaging educational organizations, industry trends, and leadership needs, both present and future. As part of Cross Country Education, Selected, a cloud-based digital platform, will offer a more in-depth database of education professionals and expanded resources for Cross Country Education's clients.

About Cross Country Healthcare

Cross Country Healthcare, Inc. (CCH) is a leader in providing total talent management including strategic workforce solutions, contingent staffing, permanent placement, and consultative services for healthcare customers. Leveraging our 35 years of industry expertise and insight, CCH solves complex labor-related challenges for customers while providing high-quality outcomes and exceptional patient care.

As a multi-year Best of Staffing® Award winner, CCH is committed to an exceptionally high level of service to both our clients and our healthcare professionals. CCH was the first publicly traded staffing firm to obtain The Joint Commission Certification, which it still holds with a Letter of Distinction. CCH was recently listed as one of the top four staffing and recruiting employers for women by InHerSights in October 2021 and earned Energage’s inaugural 2021 Top Workplaces USA award in February 2021.

CCH has a longstanding history of investing in its diversity, equality, and inclusion strategic initiatives as a key component of the organization’s overall corporate social responsibility program which is closely aligned with its core values to create a better future for its people, communities, the planet, and its shareholders.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220201005864/en/

Cross Country Healthcare, Inc.

Karen Varga-Sinka, Communications Director

813-944-7124

Kvarga-sinka@crosscountry.com

Source: Cross Country Education

FAQ

What is the significance of Cross Country Healthcare's acquisition of Selected?

The acquisition significantly enhances Cross Country's capabilities in education staffing, addressing critical shortages in the sector.

How will the Selected platform impact schools?

The platform improves hiring processes, helping schools find qualified educators effectively.

When was the acquisition of Selected announced?

The acquisition was announced in February 2022.

What are the expected benefits of this acquisition for Cross Country Healthcare?

It expands their tech-driven solutions and supports ongoing digital transformation in education.

How does the acquisition align with Cross Country Healthcare's mission?

It strengthens their commitment to providing innovative staffing solutions in response to labor shortages in education.