Aug 30, 2021 - Economy

Centerbridge in talks to buy TPG's travel nursing agency Medsol

A doctor's outfit without a person wearing it

Illustration: Brendan Lynch/Axios

Centerbridge Partners and Caisse de dépôt et placement du Québec are in talks to buy Omaha-based travel nurse staffing firm Medsol from TPG for around $2.3 billion, per Bloomberg.

Why it matters: Medical temp needs were expected to surge pre-pandemic, due to aging baby boomers, but they're now in hyperdrive as hospitals struggle to keep pace with unvaccinated COVID patients.

ROI: TPG paid around $500 million to buy Medsol from other private equity firms in 2017.

The bottom line: "Health systems are seeing higher turnover and attrition, and more vacant positions that take longer to fill in some cases due to worker burnout, which was high among health-care workers even before the pandemic. Demand is highest for nurses, who make up the largest part of the clinical workforce." — Michelle Davis & Kiel Porter, Bloomberg

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