Crdentia is a large national healthcare staffing company headquartered in Dallas, Texas and has 21 satellite offices in AL, AZ, FL, GA, NC and TX. Over 2,300 clients are supported by their office staff and 2,060 field staff. Certified in 2007 by The Joint Commission on Accreditation of Healthcare Organizations, Crdentia serves all segments of healthcare industry from hospital nursing, home health and travel nursing, allied health and locum tenens (physician) staffing.
With an $11.4 billion healthcare staffing market, including 73% of companies with revenue under $50 million per year, Crdentia is one of the larger staffing companies. The company competes primarily with smaller businesses and has opportunities to achieve further growth by acquiring smaller businesses to acquire additional market share.
Crdentia has recently realigned management refocused their organization in an effort to drive growth. C. Fred Toney was named the new chairman in March of 2007, bringing 22 years healthcare/investment experience to the company. The CEO, John Kaiser, joined Crdentia in April, 2007. Among other companies, Mr. Kaiser was the founder and previous CEO of VetMedSupply and Aperon Biosystems. Crdentia is currently utilizing technology such as internet recruiting to reduce recruitment costs. Using this tool, the company saw 14,250 applications during the first half of 2007 and is projecting 29,000 applications by end of the year, a 98% increase over last year.
Crdentia recently completed the acquisitions of Medical People Healthcare Services, Inc. and ATS Health Services; both having positive EBITDA’s. With these two acquisitions, Crdentia plans to expand their presence in the home health and extended care market segments, creating further cross-selling. As stated by Crdentia, this will “substantially increase company revenue 45%+”.
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