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AMN Healthcare Inc. Nov 11
Standard & Poors, Nov 2011
Abstract
Leading provider in the travel nurse business. Exposure to the less cyclical physician staffing (locum tenens) business. Cost synergy and revenue synergy potential from the manage service provider (MSP) contracts as a result of NurseFinders acquisition, which will aid earnings. A narrow business focus in a highly competitive and cyclical industry. Subject to the variable demand for outsourced labor from hospital clients, which has substantially declined in recent years. Low customer switching costs. Variable supply of travel nurses. Large debt burden. The rating on AMN Healthcare Inc., a subsidiary of AMN Healthcare Services Inc., reflects a weak business profile, highlighted by its operating concentration in the highly competitive and cyclical health care staffing industry. Moreover, the addition of $118 million...
Companies mentioned in this report are: AMN Healthcare Inc.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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