Cross Country Healthcare, Inc.
CCRNHIGH VELOCITYFILING INTENSITYCross Country Healthcare, Inc. reads as High Velocity (composite 70/100); pressure / disclosure signals dominate the posture this cycle · primary market Healthcare.
Lens
Disclosed M&A capital (2023–2025)
$35M
vs $62M in 2020–2022
Disclosed transactions
1
1/3 active fiscal years in window
Buyer archetype
Consistent Strategic Buyer
Meaningful spend appears across repeat years.
Composite score
70
High Velocity dominates · Filing Intensity
Behavioral posture, nine reads.
Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.
Active Acquirer
Companies actively deploying disclosed capital into M&A
- $570M disclosed buyer spend
Buyer Cadence
Buyer-side companies with recent filing activity
- Filed within 33d
- 461 8-Ks
Target Probability
Issuers showing target-side patterns from filings
- 5 activism filings
Spin/Carve
Issuers showing spin-off, carve-out, or sum-of-parts posture
- 5 activism filings
Pressure Watch
Issuers facing activism, governance, or control pressure
- 5 activism filings
- Latest activism 3.6y ago; discounted
Distress Watch
Issuers showing financial-distress filing patterns
- 5 activism filings
Restatement Risk
Issuers with accounting-integrity flags from filings
- 2 auditor changes
- Latest event 11y ago; heavily discounted
Capital Velocity
DominantIssuers with the highest filing-activity intensity
- 461 8-Ks
- 5 form types
Quiet Power
Large issuers with low signal volume and clean disclosure cadence
- Enterprise value $322M
- 10-Q 33d ago
- 3 active signals
Capital cadence.
Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.
Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $86M · Peak count: 2
| FY | Disclosed buys | Disclosed spend | Avg ticket | Audited tier |
|---|---|---|---|---|
| 2025 | N/A | N/A | N/A | N/A |
| 2024 | N/A | N/A | N/A | N/A |
| 2023 | 1 | $35M | $35M | N/A |
| 2022 | N/A | $35M | N/A | N/A |
| 2021 | 2 | $27M | $13M | N/A |
| 2020 | N/A | N/A | N/A | N/A |
Strategy posture.
The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.
Archetype mix
- Geographic Expansion20%
- Bolt On20%
- Horizontal Consolidation20%
- Tuck In20%
- Platform20%
Strategy keywords
Terms recurring across recent 10-K acquisition disclosures.
- geographic_expansion
- bolt_on
- horizontal_consolidation
- tuck_in
- platform
- talent_acquisition
Filing language.
Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.
“We consolidated and refreshed our brand by consolidating from 20 disparate brands to one core brand: Cross Country Healthcare to strengthen our go-to-market approach and be better positioned to deliver the full depth and breadth of our services to clients and professionals.”
“On June 8, 2021, we entered into an asset purchase agreement with Workforce Solutions Group, Inc. (WSG), which allows us to deliver critical support to some of the neediest populations by delivering professionals to the home.”
“We believe the best acquisitions follow a structured and disciplined approach with clear strategic objectives, detailed implementation plans and a focus on creating and capturing value for our shareholders.”
“Making strategic and disciplined acquisitions in high growth, high margin businesses to strengthen and broaden our market presence.”
“In 2021, we refinanced the Company with a new subordinated $175.0 million term loan and completed two acquisitions.”
Market context.
Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.
Primary market
Healthcare
- Market spend (2023–2025)
- $195B
- Market spend (2020–2022)
- $253.6B
- Recent vs prior
- −23%
- Issuer rank in market
- N/A
- Share of market capital
- 0.0%
Valuation positioning
CCRN trades at a +21.3-turn premium to the Healthcare peer median of 12.9×.
- EV / Revenue
- 0.4×
- Net debt / EBITDA
- N/A
- Peer median EV / EBITDA
- 12.9×
Trading comparables
FMP market data · 2026-05-10
| Company | EV / EBITDA | EV / Rev | Net debt / EBITDA | Revenue | M&A 2023–2025 |
|---|---|---|---|---|---|
Cross Country Healthcare, Inc.CCRN | 34.2× | 0.4× | N/A | $761M | $35M |
AbbVie Inc.ABBV | 23.4× | 6.7× | 3.1× | $62.8B | $18B |
| 17.2× | 0.9× | 1.9× | $449.7B | $28.1B | |
Amgen Inc.AMGN | 12.9× | 6.0× | 2.6× | $37.2B | $26.7B |
| 11.7× | 0.5× | 2.5× | $200.4B | $6.4B | |
| 9.3× | 1.9× | 2.8× | $76.4B | $1.3B |
Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Healthcare. Bars scaled to the highest EV/EBITDA in the set.
Buyer landscape.
Public buyers whose stated archetypes, target categories, and recent cadence align with this issuer as a plausible acquisition target. Scores cross EDGAR signal and disclosure overlap.
Likely buyers
No public buyers surface as a strong target-side fit on current signal.
Likely sellers / divestiture partners
No reciprocal divestiture / strategic-alternatives matches identified.
Filing activity & signal stream.
Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.
Filing cadence
- 10-K (annual)292026-03-09
- 10-Q (quarterly)762026-05-08
- 8-K (event)4612026-05-07
- Proxy / DEF 14A562026-05-07
- Activism (13D / DFAN / PREC)52022-10-28
Signals on file
- elevated
Auditor change
2015-04-172 Item 4.01 filings on file; certifying accountant change.
- elevated
Activism on file
2022-10-285 activist filings on file (13D, DFAN14A, PREC14A series).
- info
Signal
Serial acquisition history
- info
Signal
10-K strategy themes
- info
Signal
Restatement risk
Audited corpus.
No audited record on file for this CIK in the current v6 corpus.
This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.