On Assignment Sells Unit, Makes Two Acquisitions

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On Assignment Inc. on Monday said that it has completed the sale of one of its business units and made two acquisitions.

The Calabasas specialty staffing company has completed the $28.7 million sale of its Allied Healthcare business, which places professional workers in the rehabilitation health care market, to Cross Country Healthcare Inc. of Boca Raton, Fla.

On Assignment also said it has agreed to acquire CyberCoders Holdings Inc., a national permanent-placement recruiting firm based in Irvine, for $94 million in cash. The deal includes an earn-out opportunity of $11 million if CyberCoders hits certain milestones. CyberCoders places professionals in engineering and law firms and others.

On Assignment also has completed the acquisition of Whitaker Medical, a Houston physician staffing firm that serves the southeastern United States, for $17.1 million in cash and an earn-out opportunity of $5 million.

“These transactions are all part of our publicly stated drive to strategically grow the company and solidify our position as a top player in the markets we serve,” said Chief Executive Peter T. Dameris.

Shares closed down 51 cents, or 1.5 percent, to $33.52 on the New York Stock Exchange.

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