Mr. Dameris: The company was founded 25 years ago as a professional staffing firm solely focused on the life sciences industry. About 10 years after the start of the company, the service offering was expanded to include allied health care services. Then in 2001, On Assignment continued diversifying with the acquisition of a travel nursing company, which was really during the peak of that industry.
TWST: Why was that the peak of the industry?
Mr. Dameris: There was a spike in patient admissions and a high demand for registered nurses, so the industry saw double-digit growth in nurse travel companies. At the time, the nurse travel industry was performing contrary to the rest of the world. They were growing when everybody was still confronting the aftereffects of the Internet bubble. It's kind of ironic that today it is the exact opposite. Currently IT staffing is surging and nurse travel is the hardest hit in the entire staffing industry.
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