(New York, NY) – Cortec Group (“Cortec”), a New York-based private equity firm that focuses on investing in and growing middle-market healthcare services and products, specialty business-to-business, and consumer services and products businesses, announced that on August 14, 2025, Cortec Group Fund VIII, L.P. (together with its parallel investment funds, “Cortec Fund VIII”), in partnership with management, completed an acquisition of MPLT Healthcare Holdings, LP (collectively with their affiliates and subsidiaries, “MPLT Healthcare”, “MPLT”, or the “Company”) from P2P Staffing Corporation. Terms of the transaction were not disclosed.
Founded in 2012, MPLT Healthcare is a leading provider of locum tenens staffing, placing physicians and advanced practice providers in temporary positions at hospitals and healthcare systems nationwide. As healthcare systems face ongoing pressure to maintain access to care amid persistent provider shortages, demand for locum tenens services continues to increase. MPLT has consistently achieved above-market growth by delivering white-glove service, rapid placement, and long-term value to clients. The Company’s reputation for reliability and client focus has fueled expansion across a diverse range of health systems, hospitals, and clinics nationwide.
“MPLT has built a differentiated business, grounded in a culture of excellence and a commitment to service,” said Rob Whipple, Managing Partner at Cortec. “We’re thrilled to partner with Liz, Jay, and the rest of the management team to support MPLT’s expansion and reinforce the critical role MPLT plays in improving healthcare access.”
As part of the transaction, MPLT’s leadership team—including CEO Liz Hale and Founder Jay Mays—will continue to lead the Company and retain a significant ownership stake in the business. With Cortec’s support, MPLT plans to accelerate its strategic initiatives, including investment in technology and operational infrastructure, expansion into new clinical specialties, and targeted acquisitions.
“Our success has always been rooted in our unwavering commitment to delivering world-class service to both our clients and our clinicians,” said Liz Hale. “We’re incredibly proud of the business we’ve built. Partnering with Cortec gives us the resources and strategic support to scale our mission while preserving the culture and service standards that set us apart.”
The MPLT acquisition represents the fourth investment in Cortec Fund VIII, a $3.2 billion fund which closed in February 2024. Paul Hastings served as legal advisor to Cortec Fund VIII. Houlihan Lokey served as lead financial advisor to MPLT, with Citizens M&A Advisory serving as co-advisor, and Kirkland & Ellis LLP serving as legal advisor.
About MPLT Healthcare
Headquartered in Boca Raton, Florida, MPLT is a leading locum tenens staffing business providing temporary placements of physicians and advanced practice providers across a range of clinical specialties. MPLT operates a national sales and recruiting model and works directly with hospital systems and medical group clients throughout the United States. Additional information about MPLT Healthcare can be found at www.mplthealthcare.com.
About Cortec Group
Founded in 1984, Cortec invests in market-leading, middle-market healthcare services and products, specialty business-to-business, and consumer services and products businesses in partnership with owners and management teams who want to work with Cortec to drive growth and improve business fundamentals. Additional information about Cortec can be found at www.cortecgroup.com.
