|
The number of staffing firms posting 2003-2007 annual revenue growth of more than 25% soared in 2007, according to Staffing Industry Analysts Research. And three of the top 10 were healthcare staffing firms: Emerald Health Services (number 6), The Delta Companies (number 7) and Medical Solutions Inc. (number 10).
To make the final cut, companies had to have a compound annual growth rate of more than 25% between 2003 and 2007, adjusted for acquisitions. Companies also had to be privately held, U.S.-headquartered and independently owned. In addition, they had to have sales of at least $1 million in 2003. This is the fourth year that Staffing Industry Analysts had done the fastest-growing report, which can be viewed in its entirety at www.staffingindustry.com.
Also notable, Jackson Healthcare, with revenue of $370.6 million, appears on the list for the second year in a row. Below are profiles of the three top 10 healthcare staffing finishers.
Emerald Health Services
- Los Angeles
- 2007 revenue: $61.2 million
- 2006 revenue: $54.3 million
- Compound average annual growth rate: 93%
- Founded: 2002
The demand for healthcare professionals is fueling growth at Los Angeles-based healthcare staffing firm Emerald Health Services, says CEO Mark Stagen.
"Obviously there's a huge demand for healthcare professionals, we're in a great industry," Stagen says.
There's also the people and the company's culture.
Stagen says Emerald has three clients - nurses, hospitals and corporate employees. And the company works to take care of all three.
Its hard work led Emerald to the Number 6 spot on Staffing Industry Analysts' list of fastest-growing U.S. staffing firms.
The company provides travel nurses and does some executive search as well. Stagen founded Emerald in 2002 after reading about the shortage of nurses; he had previously been with a broadband engineering firm.
"I just recognized there was a need," he says. "Whenever you have a great industry, there's always room for one more company."
Stagen received the Ernst & Young Entrepreneur of the Year award in 2007 in the business services category in the Los Angeles area, and was one of the finalists for the national awards as well. This year, Stagen is one of 12 judges for the Ernst & Young Entrepreneur of the Year award.
He is also a founding member of NATHO - the National Association of Travel Healthcare Organizations - a new organization designed to help bring the industry together.
Healthcare staffing appears to be countercyclical, faring better in slower economic times. Stagen says the company hasn't been hit by the economic slowdown.
And right now, the company is small. "We still have plenty of opportunities and plenty of room to grow," Stagen says. As for Emerald's future, Stagen says the plan is to do more of the same and keep growing the company.
"I'd love to be the largest travel nurse company in the country. I think that would be great," he says.
|
