Bowstring Advises Locum Leaders on its Acquisition by OGH, LLC
May 8, 2013 | Atlanta, GA
OGH, LLC, a leading provider of workforce solutions for the healthcare and technology sectors, announced on May 1 the completed acquisition of Locum Leaders, a nationwide supplier of locum tenens services to healthcare systems and physician practice management organizations throughout the U.S.
“The U.S. healthcare system is undergoing a significant expansion with the implementation of the Affordable Care Act. As a result, hospital executives are experiencing an acceleration of labor shortages of skilled healthcare professionals while trying to effectively manage patient care and maintain positive operating margins. OGH is focused on providing its clients with leading solutions that can help address these issues and to combat potential disruptions in patient care. We look forward to working with the entire Locum Leaders team and expect the company will continue to be a market leader for many years to come,” said Kevin Clark, CEO of OGH.
“This is an exciting day for our company and I am pleased to have our entire team join the OGH family of companies,” said Will Drescher, President & CEO of Locum Leaders. “With the locum tenens industry expected to grow at a projected 10% rate for 2013, we are pleased to have the backing of OGH to help us further expand and scale our solutions offerings.”
Chief Medical Officer Dr. Bob Harrington added, “Our focus from day one has been on quality. We have been very fortunate to work with great physicians over the last several years and are thrilled to be able to partner with OGH, allowing us to expand our services and grow quickly without sacrificing our commitment to quality physicians.”
OGH is backed by Welsh, Carson, Anderson & Stowe, a specialized private equity firm that manages $20 billion of total capital in the information/business services and healthcare industries. OGH plans to continue to operate Locum Leaders, which was principally backed by W3, LLC, as a dedicated brand within the locum tenens space and keep the company headquartered in Alpharetta, Ga.
Bowstring Advisors served as Locum Leaders’ exclusive advisor for this transaction. “This was the second time I have engaged Bowstring to represent W3, LLC, in the sale of our businesses. Their focused approach, ability to identify credible prospective buyers and manage the entire process, while allowing us to focus on the business, is invaluable,” said Bob Bailey, Principal at W3, LLC. Dave Phillips, Director at Bowstring, noted, “It was a pleasure to represent one of the premier locum tenens firms and help them find a such a complementary partner in OGH. Locum Leaders is a strategic addition to OGH’s growing portfolio of companies.”
This was the second time I have engaged Bowstring to represent us in the sale of our businesses. Their focused approach, ability to identify credible prospective buyers and manage the entire process, while allowing us to focus on the business, is invaluable.