Aya Healthcare
Largest US healthcare staffing firm, placing travel nurses and clinicians with hospitals.
On the record
Checkpoint: Forecast stabilization of travel nurse demand after three years of decline
The call
Aya still leads a shrinking market with no clean exit after regulators killed its consolidation deal, and a new CEO is running the business without a founder or a clear growth path.
Aya Healthcare finds nurses, doctors, and other medical workers for hospitals across the United States. It is hard to replace because hospitals have built Aya's software deep into their hiring systems, and Aya handles the legal paperwork and background checks that hospitals must do by law. However, the business is under pressure: the temporary staffing boom from the pandemic has ended, and the market shrank 22% last year. The company's main rivals are AMN Healthcare and CHG Healthcare, plus a new threat from artificial intelligence tools that could help hospitals fill shifts on their own instead of calling staffing companies. The biggest question is whether Aya's new leadership can find a way to grow or reach a profitable exit, especially after the government blocked a major sale that could have solved the problem.
Why
01
AI pressure: AI-driven hospital internal float pool tools like IntelyCare and ShiftKey. Hospitals use AI scheduling and internal float pools to fill shifts themselves, cutting out the staffing agency layer. Could AI do the core job? Only partly.
02
Bigger players: AMN Healthcare Services, CHG Healthcare, Jackson Healthcare. Rivals compete for the same shrinking pool of travel nurse contracts after the FTC blocked Aya's Cross Country acquisition. Could a giant copy it? No, they are blocked.
03
What protects it. Deep MSP and vendor management system integration plus credentialing liability that hospitals trust and switch away from slowly.
What would change this call
Aya's 2024 or 2025 revenue and market share figures versus AMN, CHG, Jackson in next Staffing Industry Analysts report. would show whether Aya is losing rank, holding steady, or gaining share in a shrinking market.
Public disclosure of a new M&A deal, PE recapitalization, or IPO filing by Aya within 12 months. would show whether Aya found a liquidity or growth path after the FTC blocked Cross Country deal.
Announcements from major hospital systems of in-house float-pool or AI staffing tools replacing agency contracts. would show whether hospitals are structurally bypassing Aya's MSP channel.
Public disclosure of a new M&A deal, PE recapitalization, or IPO filing by Aya within 12 months. would show whether Aya found a liquidity or growth path after the FTC blocked Cross Country deal.
Announcements from major hospital systems of in-house float-pool or AI staffing tools replacing agency contracts. would show whether hospitals are structurally bypassing Aya's MSP channel.
Key numbers
- $6.9B revenue, 16.1% US market share
- Revenue fell 22% YoY, $8.9B to $6.9B
- Headcount down 17.1% to 22,181
Named risks
- Travel-nurse and broader healthcare staffing market contracted ~16-22% YoY through 2025.
- FTC blocked Aya's Cross Country acquisition, removing a consolidation growth path.
- Headcount declined 17.1% from 2023 to Q4 2025 per Revelio Labs, signaling shrinking operations.
- Leadership transition under new CEO Emily Hazen following founder's unexpected death, May 2025.
- AI-powered hospital internal float pools could erode MSP-channel staffing volume long-term.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| AMN Healthcare Services | contesting | Large incumbent reported ~$600M Q1 2026 strike-staffing revenue alone, per SIA, 2026-04-15 |
| CHG Healthcare Services | contesting | CHG holds #2 spot with $2.8B revenue, 6.5% share vs Aya's 16.1% in 2024 |
| Jackson Healthcare | contesting | Jackson ranks #3 at $2.5B revenue, 5.8% share in 2024 SIA data |
| Cross Country Healthcare | gaining on | Now PE-backed by Knox Lane since July 2026 after failed Aya acquisition, could sharpen competition |
Questions people ask
- Is Aya Healthcare profitable in 2026?
- No public profit figures are disclosed since Aya is privately held. Revenue fell from $8.9B in 2023 to $6.9B in 2024, a roughly 22% decline, as the post-pandemic travel-nurse market contracted for a third straight year, per Staffing Industry Analysts data dated 2025-07-22.
- Is Aya Healthcare still the biggest healthcare staffing company?
- Yes. Aya Healthcare ranked #1 among US healthcare staffing firms with $6.9B revenue and 16.1% market share in 2024, ahead of CHG Healthcare ($2.8B) and Jackson Healthcare ($2.5B), per Staffing Industry Analysts, published 2025-07-22.
- Did Aya Healthcare's Cross Country Healthcare acquisition happen?
- No. The $615M deal announced December 2024 was terminated December 4, 2025 after prolonged FTC antitrust review; Aya paid a $20M termination fee. Cross Country was later acquired by PE firm Knox Lane for $437M, completed July 21, 2026.
- Who is the CEO of Aya Healthcare now?
- Emily Hazen became CEO on May 2, 2025, after founder Alan Braynin stepped down to become a strategic advisor. Braynin, who founded Aya in 2001, passed away from cancer around May 5, 2025, shortly after the transition.
- Is Aya Healthcare laying off employees in 2026?
- Third-party data from Revelio Labs shows Aya's global headcount fell from 26,751 in 2023 to 22,181 by Q4 2025, a 17.1% decline, with a 3.8% drop in 2025 alone and active job postings down 17.8% year over year, dated 2026-06-29.
- Could AI replace Aya Healthcare's staffing business?
- Not fully. AI can automate shift matching and demand forecasting, and Aya markets its own 'Workforce AI' tools, but credentialing, licensing, and clinician-relationship management carry regulatory liability that resists full automation, with 74% of travel-nurse revenue still flowing through sticky MSP relationships as of May 2026.
Timeline
- 2026-07-21PE firm Knox Lane completes $437M acquisition of Cross Country Healthcare
- 2026-02Aya named AAPPR Signature Partner for physician recruitment technology
- 2026-01-05Travel-nurse revenue reported at ~$14.2B for 2025, down ~16% YoY
- 2025-12-04Aya terminates $615M Cross Country Healthcare merger after FTC scrutiny, pays $20M fee
- 2025-06-23Aya closes acquisition of UK NHS shift app Locum's Nest
- 2025-05-05Founder Alan Braynin passes away from cancer
- 2025-05-02Alan Braynin steps down as CEO; Emily Hazen becomes CEO
- 2024-12Aya announces $615M deal to acquire Cross Country Healthcare
- 2023Aya acquires AI physician-recruiting firm Winnow AI
- 2001Aya Healthcare founded by Alan Braynin
Revision history
22 July 2026
First assessed. Protection under test. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- Aya Healthcare, Inc. Company Profile: Financials, Valuation, and Growth (2024-03-14)
- Aya, CHG and Jackson top largest US healthcare staffing firms list (2025-07-22)
- Largest US healthcare staffing firms generate $47.3B in revenue (2024-08-05)
- Aya Healthcare Announces Emily Hazen as Chief Executive Officer (2025-05-02)
- Aya Healthcare announces passing of founder (2025-05-07)
- Aya Healthcare calls off $615M Cross Country Healthcare deal (2025-12-05)
- Cross Country Healthcare Merger Agreement with Aya Healthcare Terminated (2025-12-04)
- Private equity firm Knox Lane completes acquisition of Cross County (2026-07-21)
- Aya Healthcare Number of Employees 2026 (2026-06-29)
- After pandemic boom, travel nursing finds new footing (2026-01-05)
- Travel nurse market shows signs of stabilization (2026-05-26)
- Aya Acquires Locum's Nest for UK Staffing (2025-06-23)