• Robert Half for healthcare professionals.
• Adecco for the medical industry.

• Travel Nurse and Allied Staffing: Provides temporary and contract nurses and allied health professionals to healthcare facilities nationwide.
• Physician Staffing: Offers locum tenens and permanent placement services for physicians and advanced practice professionals.
• Workforce Solutions: Delivers comprehensive managed services programs (MSPs) and recruitment process outsourcing (RPOs) to optimize staffing for healthcare systems.

Cross Country Healthcare (CCRN) primarily sells its services to other companies, specifically healthcare providers.

Its customer base is highly diversified, consisting of thousands of hospitals, health systems, and other healthcare facilities across the United States. Cross Country Healthcare provides staffing solutions, workforce management services, and other human capital solutions to these entities.

As per their public filings (e.g., annual 10-K reports), no single customer accounted for 10% or more of Cross Country Healthcare's consolidated revenues in recent years. This indicates that the company does not have a few 'major' customers in the traditional sense, but rather a large and fragmented customer base within the healthcare industry. Therefore, specific names of individual 'major customer companies' that would be disclosable are not identified.

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John A. Martins, President and Chief Executive Officer

Mr. Martins has served as President and Chief Executive Officer of Cross Country Healthcare since April 2022. He joined the company in January 2021 as Group President, Nurse and Allied. With over 15 years of experience in the healthcare staffing industry, Mr. Martins previously served as Senior Vice President of Operations Strategy for Aya Healthcare, Inc. from November 2017 to January 2020. He also held the role of Senior Vice President, General Manager of AMN Healthcare Services, Inc. from January 2015 to October 2017, and was President of Onward Healthcare from February 2008 to January 2015. Onward Healthcare was acquired by AMN Healthcare in January 2015, where Mr. Martins subsequently became a Senior Vice President, General Manager. His expertise includes travel nurse and allied, per diem, locum tenens, and education staffing services, along with digital innovation and technology development.

William J. Burns, Executive Vice President and Chief Financial Officer

Mr. Burns is responsible for leading Cross Country Healthcare's finance, accounting & tax, treasury, procurement, investor relations, and shared services functions. He brings over 25 years of experience to his role and is a Certified Public Accountant. Prior to joining Cross Country Healthcare, Mr. Burns held leadership positions at Gartner, CA, Adecco, and Honeywell.

Kevin C. Clark, Co-Founder and Chairman

Mr. Clark co-founded Cross Country Healthcare Inc. in 1986, initially serving as Chairman and CEO until 1994, during which time the business was sold to W.R. Grace & Co. He returned as President and Chief Executive Officer of Cross Country Healthcare in January 2019, serving until March 2022, when he became non-executive Chairman. His extensive career includes co-founding Onward Healthcare in 2002, and leading Medefis and Locum Leaders, all of which were acquired in 2015. He also served as Chairman and Chief Executive Officer of Talivity, Inc. (2015-2018), OGH, LLC (2002-2015), Pinnacor Inc. (1999-2001), and Poppe Tyson, Inc. (1996-1998).

Susan E. Ball, J.D., MBA, RN, Executive Vice President, Chief Administrative Officer, General Counsel and Secretary

Ms. Ball serves as the legal advisor to Cross Country Healthcare's CEO and board of directors, overseeing corporate governance, securities matters, risk management, workers' compensation, insurance, litigation, and mergers and acquisitions. Before embarking on her legal career, she was a Registered Nurse, providing her with unique insights into the company's legal matters. She also has extensive experience with public company issues.

Marc Krug, J.D., Group President, Delivery

Mr. Krug oversees the strategic vision and execution for Cross Country Healthcare's CCN, CCA, and CCMSN delivery brands, operations, and proprietary technology platforms.

Clear Emerging Threats to Cross Country Healthcare (CCRN):

• Rise of direct-to-facility and "gig economy" healthcare staffing platforms: A growing number of technology-first companies (e.g., Trusted Health, Clipboard Health, Gale Healthcare Solutions) are developing platforms that aim to disintermediate traditional healthcare staffing agencies. These platforms leverage AI, mobile apps, and direct contracting models to connect healthcare professionals directly with facilities, offering increased flexibility and potentially lower costs. This mirrors the disruption seen in industries like transportation (Uber vs. traditional taxis) and hospitality (Airbnb vs. hotels), posing a significant threat to CCRN's traditional intermediary business model.

• Healthcare facilities' strategic initiatives to reduce reliance on temporary agency staff: Following the unprecedented costs incurred during the COVID-19 pandemic for temporary agency staff, many hospitals and health systems are actively implementing strategies to reduce their dependence on external staffing agencies. These initiatives include building robust internal float pools, enhancing retention programs, improving internal recruitment processes, and even establishing their own "internal travel nurse" programs. This strategic shift directly threatens the demand for CCRN's core services by reducing the addressable market for agency-provided staff.

• Growing regulatory pressure and legislative efforts to cap agency rates: Several states have introduced or are actively considering legislation aimed at capping the rates that healthcare staffing agencies can charge hospitals or increasing transparency requirements around agency fees and profit margins. While the broad adoption and enforceability of such measures are still evolving, this trend represents a clear regulatory risk that could compress profit margins and alter the economic model for companies like CCRN, directly impacting their revenue and profitability.

Cross Country Healthcare, Inc. (CCRN) operates primarily in the healthcare staffing industry within the United States, offering talent management and consultative services. The company's main products and services fall into two primary segments: Nurse and Allied Staffing, and Physician Staffing.

Addressable Markets:

• U.S. Healthcare Staffing Market: This overarching market, encompassing all of Cross Country Healthcare's primary services, was valued at approximately USD 20.5 billion in 2022 and an estimated USD 23.6 billion in 2023. Projections indicate growth to approximately USD 34.7 billion by 2030, with a compound annual growth rate (CAGR) of 6.69% from 2023. Other reports estimate the U.S. healthcare staffing market size at USD 19.49 billion in 2024, growing to around USD 33.86 billion by 2034, at a CAGR of 5.68% from 2025 to 2034. Another source indicates the market size was USD 19.47 billion in 2024 and is predicted to increase from USD 21.59 billion in 2025 to approximately USD 40.16 billion by 2034, expanding at a CAGR of 5.71%.
• U.S. Travel Nurse Staffing Market: This segment dominated the U.S. healthcare staffing market, holding a share of 39.55% in 2022 and approximately 45.15% in 2024. The travel nursing market was estimated at about USD 5.6 billion in 2018 and was predicted to increase to USD 15.6 billion by 2023. It is expected to be the fastest-growing segment with a CAGR of 6.37%.
• U.S. Physician Staffing (Locum Tenens) Market: The locum tenens staffing segment is anticipated to experience significant growth. The global healthcare physician staffing market size was estimated at USD 30.32 billion in 2023 and is projected to reach USD 57.31 billion by 2033, growing at a CAGR of 6.57%. While this is a global figure, it indicates a substantial market for physician staffing that Cross Country Healthcare addresses in the U.S.
• U.S. Allied Health Staffing Market: Within the U.S. allied health temporary staffing sector, revenue decreased by 12.8% in the first half of 2024 compared to the first half of 2023. "Other allied health" occupations represented the largest market share at 22.6% of total allied staffing revenue in the first half of 2024. Specific market size figures for the entire U.S. allied health staffing market as a standalone entity are not explicitly provided in the search results, but it is a component of the broader U.S. healthcare staffing market.

Cross Country Healthcare (CCRN) is expected to navigate a mixed revenue landscape over the next two to three years, with overall revenue forecast to decline by analysts due to the normalization of the travel nurse market. However, several segments and strategic initiatives are identified as key drivers for future revenue growth within the company:

1. Growth in Physician Staffing (Locum Tenens) Services: This segment has demonstrated consistent growth, with physician staffing revenue increasing 3.0% year-over-year in the second quarter of 2025. In the third quarter of 2024, physician staffing revenue was up 10% year-over-year and 4% sequentially, with analysts forecasting low double-digit growth for this business in 2024 and continued expansion in 2025, driven by an increase in billable days and higher revenue per day. Strategic acquisitions, such as those made in late 2022, have also contributed significantly to scaling this business.
2. Expansion in Home Care Staffing: Cross Country Healthcare's home care revenue experienced substantial growth, rising more than 30% year-over-year in the second quarter of 2025. This segment represents a strong area of growth for the company as demand for in-home healthcare services continues to increase.
3. Strategic Acquisitions: The company has a history of leveraging strategic acquisitions to bolster its service offerings and market share. An example of this is the announced acquisition of assets from Mint Medical Physician Staffing, LP and Lotus Medical Staffing LLC in September 2025, which aims to enhance its physician staffing capabilities.
4. Managed Services Programs (MSPs) and Client Retention: Cross Country Healthcare reported steady client retention rates and a robust pipeline for new Managed Services Programs implementations and expansions in the latter half of 2025. These programs are crucial for optimizing workforce utilization and reducing operational costs for healthcare providers, fostering deeper client relationships and securing long-term service contracts.

Share Repurchases

• On May 1, 2023, the Board of Directors authorized an aggregate of $100.0 million in share repurchases under the Repurchase Program.
• Cross Country Healthcare repurchased over 2.4 million shares for $36.8 million in full-year 2024.
• As of June 30, 2025, $40.5 million remained authorized for share repurchase.

Share Issuance

• As of February 18, 2025, there were 32,812,580 shares of Common Stock outstanding.
• Performance Stock Awards were issued under the 2020 Omnibus Incentive Plan beginning March 31, 2021.

Inbound Investments

• Aya Healthcare announced the acquisition of Cross Country Healthcare for approximately $615 million in an all-cash transaction at $18.61 per share.
• This acquisition is anticipated to close in the second half of 2025, after which Cross Country Healthcare is expected to become a private company.

Outbound Investments

• On December 13, 2022, the company completed the acquisition of Hireup Leadership Inc.
• On June 8, 2021, Cross Country Healthcare completed the asset acquisition of Workforce Solutions Group, Inc. for $25.0 million in cash and $5.0 million in shares, with a potential earn-out of up to an additional $15.0 million.

Capital Expenditures