TRAVERSE CITY — A Northern Michigan provider of vendor management solutions for hospitals and health care systems has been acquired by a private equity firm.
According to a statement, American HealthCare Staffing Association LLC of Traverse City, which does business as American HealthCare Services Association (AHSA), was acquired by New York City-based BelHealth Investment Partners LLC.
AHSA was founded in 2003 as a provider of clinical and non-clinical temporary employees. It offers hospitals comprehensive staffing services for nurses, physicians, mid-level health care professionals, allied health care professionals, medical office staff, and I.T. positions, among others.
Industry veteran Tim Cerny will serve as president of AHSA, according to a statement. Terms of the deal were not disclosed.
Executives at BelHealth said the PE firm invested in AHSA to capitalize on “exponential growth over the next several years” in the vendor management business and help lead the company through its next growth phase, according to founder and Managing Partner Harold Blue.
Private equity firm BelHealth invests in lower middle market health care companies. The company seeks to acquire majority positions in entrepreneur-owned companies, investing $20 million to $50 million per platform company in health care services, products and distribution. BelHealth is currently investing via a $350 million fund, its second to date.