Personnel and personnel management company. ShiftMed has acquired managed workforce solutions provider CareerStaff Unlimited in a deal with post-acute care provider Genesis HealthCare.
As part of the seven-year agreement, ShiftMed will serve 200 skilled nursing facilities and 1,200 Powerback rehabilitation centers for Genesis.
CareerStaff’s MSP and per diem platform enables healthcare providers to recruit staff, consolidating over 1,000 staffing companies nationwide into a single VMS platform. The company manages scheduling, accreditation, shift confirmation and invoice reconciliation for nursing.
ShiftMed offers workforce management solutions such as ShiftMed Flex and ShiftMed On Demand.
The ShiftMed Flex mobile app allows in-house staff to fill scheduling gaps, while ShiftMed On Demand helps systems reduce reliance on travel nursing by filling open shifts with local nurses and expanding local nursing floating groups.
“The integration of CareerStaff with ShiftMed allows us to meet 100% of our clients’ On Demand needs through one workforce platform. By merging ShiftMed’s acclaimed suite of mobile products with CareerStaff’s world-class MSP solution, “We are establishing the industry’s first end-to-end digital MSP platform,” Todd Walrath, CEO of ShiftMed, said in a statement.
THE BIGGEST TREND
In 2021, ShiftMed raised $45 million in financing led by Panorámica Ventures and CareFirst Holding’s investment arm, Healthworx. Investors Blue Heron Capital, Motley Fool Ventures and 3TS Capital Partners also participated in the round.
The Virginia-based company closed a $200 million funding round in February 2023. The investment was led by Panorámica Ventures with additional funding from Audacious Capital and Blue Heron Capital. The company planned to expand its national offering with the investment.
Additionally, the company launched ShiftAdvisor in January, which uses AI for nursing scheduling and staffing efficiency. Platform users receive AI scheduling suggestions through the platform that are tailored to each individual’s day, shift, pay, and location preferences.
Several other nurse staffing platforms have seen large investments in recent years.
Nursing Staffing Marketplace Incredible Health raised $80 million in Series B funding in 2022 in a round led by Base10 Partners. Additional investments came from Andreessen Horowitz, Rethink Impact, Stardust Equity, 444 Capital Fund and Obvious Ventures. The round raised the startup’s valuation to $1.65 billion.
Startup colleague of healthcare personnel ShiftKey raised $300 million last year with investments from Lorient Capital, Ares Management Secondaries and Pantheon. ShiftKey’s platform allows nurses to search for local per diem shifts and bid on those shifts.