Gridiron Capital and Stella Point Capital have agreed to merge Gridiron’s portfolio company, Travel Nurse Across America, and Stella Point’s TotalMed.
Travel Nurse Across America (TNAA) specializes in providing travel nurses and other health professionals to healthcare facilities across the United States including hospital systems, outpatient centers, and specialty care providers.
TNAA also provides other staffing services through its managed services platform, SimpliFi, which manages and coordinates temporary staffing needs across multiple vendors and uses technology to help fill open shifts for both temporary and regular staff. The company was founded in 1999 and is headquartered in North Little Rock, Arkansas.
Similar to TNAA, TotalMed provides temporary and permanent placement of travel nurses, allied health professionals, non-clinical staff, and locum tenens clinicians. Through its managed services platform Staffency, it provides vendor and workforce management services. TotalMed, founded in 2004 by CEO Sejal Shah and President Jason Beck, is headquartered in Appleton, Wisconsin.
The combined platform supports travel nursing, allied health, locum tenens, life sciences, health plan roles, non-clinical hospital staffing, strike coverage, and per diem needs, while integrating workforce management technology from TNAA’s SimpliFi and TotalMed’s Staffency.
“We are excited to bring together the best of TotalMed and TNAA,” said Tim McKenzie, the CEO of TNAA, who will lead the merged entity, “Our shared vision, values, and commitment to innovation positions us as a premier partner for healthcare talent and solutions.”
“We’re proud of the growth and strategic expansion that Tim and the TNAA team have executed on throughout our partnership and are very excited about this combination and what it means for the future,” said Tom Burger, a co-founder and managing partner of Gridiron. “We believe these are highly complementary businesses with a shared vision and culture and look forward to partnering with both the TotalMed and Stella Point teams for this next phase of growth.”
“This merger is about coming together to offer something greater than we could achieve independently,” added Mr. Shah who has joined the board of directors of the newly merged business. “We’re building an organization that is not just larger, but smarter and more capable, with a clear focus on delivering extraordinary value to everyone we serve.”
“The combination of SimpliFi and Staffency creates an MSP with a powerful value proposition to our customers and a growing suite of services across workforce solutions, empowered by our combined team and technology,” said Andrew Kahn, a principal at Gridiron.
Gridiron invests in companies with enterprise values between $75 million and $600 million and EBITDA from $10 million to $60 million. The firm’s sectors of interest include business services, consumer products and services, and industrial growth. Gridiron is currently investing from its fifth fund, which closed above target in October 2023 with $2.1 billion in capital. Fund V is Gridiron’s largest fund to date, significantly surpassing its fourth fund, which closed in December 2020 with $1.35 billion.
Stella Point invests in North American-headquartered middle market companies that have from $50 million to $500 million in enterprise value. Sectors of interest include industrial manufacturing and distribution, consumer, and business services. The New York City-headquartered firm was founded in 2012 by managing partners Adam Godfrey and Justin Wender.
“A combined TNAA and TotalMed will bring to bear a full suite of services and technology solutions, affording the team the ability to serve as a true strategic partner to all hospitals nationwide,” concluded Ryan Hunter, a managing director at Stella Point.
“We want to thank Sejal Shah and Jason Beck, the co-founders of TotalMed, and the rest of the TotalMed team for positioning TotalMed for such a transformative combination,” said Stella’s founders in a released statement. “The cultural alignment between TotalMed and TNAA is a testament to all they have built over the last 20+ years.”
Houlihan Lokey was the financial advisor to TNAA and UBS Investment Bank advised TotalMed.
© 2025 Private Equity Professional | June 24, 2025
