Amn Healthcare Services Inc (NYSE: AMN)

AMN Healthcare empowers the future of care through one of the nation’s broadest network of highly qualified healthcare professionals. As the leader and innovator in total talent solutions for the healthcare sector in the United States, the company tailors its solutions to clients workforce challenges and goals, and provides staffing, talent optimization strategies, and technology solutions to support caregivers and patient care. The firm’s mission focuses on delivering the right talent and insights to help healthcare organizations optimize their workforce, providing healthcare professionals opportunities to do their best work toward high quality patient care, and creating an innovative and values based culture where team members can achieve their goals.

AMN Healthcare generates revenue from a diverse portfolio of services that include temporary and permanent staffing for nurses, allied health professionals, physicians, and executives; managed services programs (MSP); vendor management systems (VMS); medical language interpretation; recruitment process outsourcing (RPO); revenue cycle solutions; and consulting for staff planning and optimization. In 2025, approximately 48 percent of consolidated revenue came from MSP relationships, while the company managed about $1.8 billion in spend through its MSPs and about $1.4 billion in spend flowed through its VMS programs, resulting in roughly $3.3 billion of total spend under management. Revenue is generated in all 50 states, with the largest concentrations in California, New York, and Texas, and more than half of temporary and contract healthcare professional assignments occur at acute care hospitals. A notable client is Kaiser Foundation Hospitals, which accounted for about 22 percent of total revenue in 2025, while no other single client exceeded five percent of consolidated revenue.

The company operates through the following segments: nurse and allied solutions, physician and leadership solutions, and technology and workforce solutions.

• Nurse and allied solutions: This segment provides travel nurse staffing for typical 13 week assignments, international nurse staffing on long term contracts ranging from 24 to 36 months, international nurse permanent placement, crisis nurse staffing for urgent needs such as pandemic surges and natural disasters, labor disruption staffing for strike situations, local nurse staffing covering short term assignments with same day shifts, allied health professional staffing including physical therapists, respiratory therapists, occupational therapists, and teletherapy services via the Televate platform for schools, and revenue cycle solutions such as remote medical coding, clinical documentation improvement, case management, and auditing and advisory services.

• Physician and leadership solutions: This segment offers locum tenens staffing for physicians and advanced practice clinicians on temporary assignments, permanent physician placement across many specialties, interim leadership staffing for senior healthcare executives and clinical leaders such as chief nursing officers and physician executives, and executive search services focused on academic medical centers and children’s hospitals nationwide.

• Technology and workforce solutions: This segment delivers managed services programs that manage contingent staffing needs, vendor management systems including ShiftWise Flex, Medefis, and b4health, medical language interpretation services via AMN Language Services with more than 400 health systems, more than 2,700 hospitals, and thousands of clinics using the solutions, recruitment process outsourcing (RPO) that enables clients to streamline permanent workforce planning, staff planning consulting to evaluate staffing spend and recommend savings, and technology platforms such as WorkWise launched in 2024 that quantifies staffing demand with predictive scheduling, AMN Passport a mobile application with more than 340,000 registered users as of January 2026, ShiftWise Flex integrated with AMN Passport to automate workforce and vendor management, and the Event Management System (EMS) expanded in 2025 to support large scale labor disruption events by coordinating recruitment, scheduling, credentialing, logistics, and supplier management.

AMN Healthcare holds a leading position in the U. S. healthcare staffing and workforce solutions market. The company is a top provider of nurse, allied, and locum tenens staffing and maintains a market leading share in vendor neutral managed services programs, vendor management systems, and language interpretation services. Its competitive advantages stem from a comprehensive suite of total talent solutions, a national footprint, significant investments in technology and automation, a large pool of qualified professionals, certifications such as Joint Commission accreditation and Credentials Verification Organization certification, strong word of mouth referral networks, and transparency with financial and operational controls that enhance its value proposition. Key competitors include Amergis, Aya Healthcare, CHG Healthcare Services, Cross Country Healthcare, HealthTrust Workforce Solutions, Ingenovis Health, Jackson Healthcare, LanguageLine Solutions, Medical Solutions, and Proprio.

The company’s customer base consists primarily of healthcare organizations across the United States, including acute care hospitals, health systems, physician groups, sub acute facilities, schools, home health agencies, and ambulatory surgery centers. AMN Healthcare serves many of the largest and most prestigious health systems in the country, with Kaiser Foundation Hospitals representing about 22 percent of total revenue and no other single client exceeding five percent of consolidated revenue. The firm provides services in all 50 states, supporting a diverse range of care delivery settings from hospitals to community based clinics.