On Assignment Buys Staffing Company

The Calabasas medical staffing firm On Assignment Inc. has purchased a Utah physician staffing company. The company will pay $41 million in cash and an earn-out provision to acquire VISTA Staffing Solutions, based in Salt Lake City. The new company will have a pro forma annual 2006 revenue of more than $345 million. The purchase is expected to add to next year’s earnings. The earn-out provision is determined by VISTA’s performance next year and 2008, which could add $8 million to VISTA shareholders and option holders over the following two years.