Futuris Acquires Healthcare Staffing Business from Recruiter.com
NEW YORK, NY / August 15, 2023 / Recruiter.com Group, Inc. (NASDAQ: RCRT)(NASDAQ: RCRTW) (“Recruiter.com” or “the Company”) today shares exciting news: Futuris Company (OTC: FTRS), a leader in Human Capital Management (HCM), has reached an agreement to acquire the Company’s specialized healthcare staffing business, pending client approvals.
This strategic move cements Futuris’ place within the healthcare staffing industry and underscores both companies’ shared commitment to expanding services and promoting growth. According to the agreement’s terms, Recruiter.com will transition specific client contracts to Futuris or its related entities. The transaction compensation incorporates Futuris stock, valued at $500,000 (subject to adjustments as per the agreement’s terms), and a share of the ongoing gross profit, with a maximum limit of $2 million.
The transaction is expected to close immediately upon the fulfillment of closing conditions, including necessary client approvals.
While we are transitioning specific client contracts to Futuris, Recruiter.com remains committed to minimizing disruptions and ensuring a seamless transition for our clients and employees. Our team will work closely with Futuris to ensure a smooth transfer of responsibilities. This decision was made after careful evaluation and a realization that Futuris, with its proven expertise in healthcare staffing, is better positioned to maximize the potential of this business segment. Our experience in healthcare staffing has provided valuable insights, which will continue to inform our strategic decisions moving forward.
Miles Jennings, CEO of Recruiter.com, spoke enthusiastically about the agreement: “This transaction represents a significant milestone in our strategy to focus on our core business while providing our clients with top-tier service. By passing our healthcare staffing business to Futuris-a company known for its successful integrations and impressive growth-we’re setting the stage for the next exciting chapter of business expansion. We anticipate great things from Futuris in the future.”
About Recruiter.com Group, Inc.
Recruiter.com is a dynamic recruiting platform, delivering flexible talent acquisition solutions that span startups to Fortune 100 companies. Harnessing an extensive network of recruiting professionals and cutting-edge recruitment marketing automation, Recruiter.com navigates complex hiring challenges to serve businesses across the globe.
About Futuris Company
Futuris is a dedicated Human Capital Management (HCM) firm committed to delivering Executive Search, Staffing, Consulting services, and Tech Services. Specializing in sectors such as Medical, Information Technology, Recruitment Process Outsourcing (RPO), and Legal, the Company is steadfast in its mission to construct a global HCM platform through highly targeted and accretive acquisitions, combined with operational efficiencies.
Futuris Company’s commitment to dynamic growth is clear, demonstrated by their recent acquisition of INSIGMA, an IT services firm that specializes in global staffing. Futuris’ CEO/CFO, Robert Day, has signaled the company’s intention to sustain this growth trajectory with future acquisitions on the horizon. Adding Recruiter.com’s healthcare staffing business to their portfolio, Futuris not only diversifies its services but also cultivates new avenues for both organic and inorganic growth.
