Acquired by Private Equity Firms

HR tech acquisitions
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Cornell Capital and Trilantic North America, two leading private investment firms, today announced that they have acquired trustaff Management, Inc., a leading provider of travel nurse and allied healthcare staffing services, and CardioSolution, a managed services offering providing cardiologists and support personnel to hospitals.

As part of this transaction, Cornell Capital and Trilantic North America have also agreed to acquire, Inc., a VC-backed, AI-driven online marketplace for employers and job seekers that brings cutting-edge technology expertise to the staffing sector. The combination of these companies will create a leading healthcare staffing platform with a unique technology-driven approach. 

In conjunction with the announcement, Adam Zoia, CEO and Co-Founder of Stella, has been named CEO of the combined company, succeeding Brent Loring, CEO of trustaff, who is retiring. Mr. Zoia is an industry leader and has been applying technology and data science to recruiting for nearly 25 years, including at Glocap, a high-touch executive search and temporary placement firm for financial professionals that he founded in 1997 and where he remains Chairman.

Founded in 2002 and family-owned, trustaff serves a wide variety of healthcare provider needs through trustaff Travel Nurses, which places nurses and allied professionals on 13-week travel assignments, and trustaff Personnel Services, which provides per-diem temporary staffing. trustaff is one of the largest travel nurse staffing firms in the United States, having placed healthcare professionals at more than 2,000 healthcare facilities, including hospitals and medical centers across the country. Founded in 2011 by Perrin Peacock and Dr. Lou Vadlamani, CardioSolution is a physician-led organization that specializes in building, augmenting and operating cardiovascular programs for underserved communities across the country.

Backed by world-class investors, including Charles River Ventures and The Seek Group, Stella is the first inter-company candidate referral network for large employers. Powered by a common application, ATS integrations and matching algorithms, Stella provides an efficient and seamless experience for both candidates and hiring firms. Stella has built networks in hospitality, wireless communications and healthcare, and is headquartered in New York City. 

Cornell Capital and Trilantic North America intend to accelerate growth at the combined company by creating an industry-first platform for temporary healthcare staffing built on data science and automation. This differentiated platform will be further enhanced by each company’s growth-oriented management, long-standing hospital and healthcare facility relationships, and high-performing sales and recruiting teams to drive attractive synergies and long-term success.

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