nextSource, Inc.

nextSource, Inc.

nextSource, Inc.

Overview
Date Founded

1999

Headquarters

1040 AVENUE OF THE AMERICAS, NEW YORK, NY, 10018, USA

Type of Company

Private

Industries

Human Resources & Personnel Services
Other Business & Consulting Services

Company Description

NextSource, Inc. designs, develops and implements innovative Web based workforce management solutions. It offers applicant tracking, vendor management, rate benchmarking, agency exchange, job auction, risk mitigation/payrolling, procurement and human resources consulting and managed services. The firm solutions include managed services program, compliance, employer of record services and services procurement. The company was founded by Joseph Musacchio in 1998 and is headquartered in New York, NY.

Contact Data
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Executives & Employees

Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

Chief Technology Officer

Director of Business Intelligence

Director of Implementations

Director of Supplier Partnership

Senior Vice President, Business Development

Senior Vice President, Growth Accounts

Senior Vice President of Sales & Strategy

Paths to nextSource, Inc.
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Advised onH.I.G. Capital LLC (Private Equity), H.I.G. Capital LLC purchase nextSource, Inc.

Clients

Columbia University is one of the world's most important centers of research and at the same time a distinctive and distinguished learning environment for undergraduates and graduate students in many scholarly and professional fields. The University recognizes the importance of its location in New York City and seeks to link its research and teaching to the vast resources of a great metropolis. It seeks to attract a diverse and international faculty and student body, to support research and teaching on global issues, and to create academic relationships with many countries and regions. It expects all areas of the university to advance knowledge and learning at the highest level and to convey the products of its efforts to the world.

The North Shore-LIJ Health System was founded in 1997 with the merger of the North Shore Health System and LIJ Medical Center, creating a healthcare network that now includes 17 hospitals, The Feinstein Institute for Medical Research, rehabilitation and skilled nursing facilities, a home care network, a hospice network, and progressive care centers offering a range of outpatient services. Headquartered in Great Neck, New York, North Shore-LIJ is the largest integrated health system in New York State, based on patient revenue,[5] and the 14th-largest healthcare system in the United States. Its service area encompasses more than seven million people in Long Island, Manhattan, Queens and Staten Island. With more than 47,000 employees, North Shore-LIJ is the largest private employer in New York State.

The Broad Institute evolved from a decade of informal and successful research collaborations among scientists in the MIT and Harvard communities. In 1990, the Whitehead Institute/MIT Center for Genome Research (WICGR) was founded, and it soon became an international leader in the field of genomics and a flagship of the Human Genome Project. As early as 1995, WICGR scientists recognized the need to bring the power of genomics to the understanding of human disease. It launched pilot projects in genomic medicine, forming an unofficial collaborative network among scientists from across MIT and Harvard who pioneered new approaches to cancer and human genetics. In parallel, Harvard Medical School-based scientists established the Institute of Chemistry and Cell Biology (ICCB) in 1998, to facilitate the pursuit of chemical genetics as an academic discipline and a tool to further understand human biology and disease. In 2002, the ICCB was awarded an Initiative for Chemical Genetics (ICG) grant from the National Cancer Institute, and its successful Investigator-Initiated Screening Program facilitated small molecule screening projects for more than 80 research groups worldwide. These projects demonstrated the power of enabling scientists to collaborate to tackle the major challenges in molecular medicine. It was clear that a new type of formal organization was required — open, collaborative, interdisciplinary, and able to organize projects at any scale. In addition, it was important that the complementary expertise of the genomic scientists and the chemical biologists across MIT and Harvard be brought together in one place to drive the transformation of medicine with molecular knowledge. Discussions in 2002-2003 among Eli and Edythe Broad, MIT, Harvard and its affiliated hospitals, and the Whitehead Institute shaped the vision for this new institute. The extraordinary generosity of Eli and Edythe Broad, through their founding gift of $100 million (later doubled to $200 million) made it possible to formally announce the new institute in June 2003 and to launch it in May 2004. Less than four years after its launch, the Broads gave an unprecedented gift of $400 million in September 2008 to permanently endow the institute, providing long-term sustainability for its unique model of collaborative, inter-institutional research.

Investors
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H.I.G. Capital LLC (Private Equity) invests in small and medium sized companies located in the North America, South America and Europe with an enterprise value between $50 and $500 million. The firm targets companies operating in the fields of manufacturing and business services. They provide financing for management buyouts/recapitalizations, add-on acquisitions, industry consolidations, turnarounds, corporate divestitures, public to private transactions and growth/development capital requirements.

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