The investment is the first of its kind for VeloSource and Syncx, and will be used to grow a contingent staffing management program that can be replicated in health systems nationwide.
ST. LOUIS, MO – VeloSource LLC (“VeloSource”), a premier St. Louis-based locum tenens agency powered by workforce technology platform leader Syncx, today announced that UPMC Enterprises, the innovation arm of UPMC (University of Pittsburgh Medical Center), has made a strategic investment in the company. This investment is the first of its kind for VeloSource, a portfolio company of Interlock Equity (“Interlock”), and will be used to further develop its AI-enabled staffing platform to assist health systems nationwide in addressing internal and external staffing challenges, improving patient access to care.
“Our patients are our priority, and this investment allows UPMC to shape how we provide them with world class care, efficiently directing physicians to where our patients need them,” said Richard Wadas, M.D., emergency medicine physician and vice president of Community & Ambulatory Services and Network Development at UPMC. “The Syncx workforce technology platform gives UPMC a complete picture of our staffing needs and available resources, allowing us to have the right clinical specialists at our facilities when they are needed so we can best care for every person who walks through our doors for treatment.”
As part of this strategic investment, Dr. Wadas will assume the title of Chief Medical Officer at VeloSource, while maintaining his positions at UPMC. UPMC Enterprises will also hold a position on the VeloSource board of directors.
“UPMC has been a valued contingent staffing client of ours for a long time, and we are excited to level up our working relationship with this strategic investment,” said Jeff Schaal, CEO of VeloSource. “We look forward to expanding and refining our capabilities in providing full-service workforce solutions for major health systems, with UPMC Enterprises backing our efforts.”
VeloSource, a longtime leader in the locum tenens physician staffing market, recently announced the launch of its new, expanded brand powered by workforce technology platform leader Syncx. Atlanta-based Syncx uses intuitive technology to connect agencies, health systems, and physicians to promote faster temporary and permanent clinical position placements, resulting in reduced healthcare costs and greater support for patient care.
In addition to locum tenens physician staffing, VeloSource now offers clients a one-stop, full suite of quality workforce solutions, including vendor management solution (VMS) and managed service provider (MSP) offerings, physician float pool, and applicant tracking systems. For healthcare organizations with an entire ecosystem for contingent staffing, VeloSource offers audits and a platform that enables better use of internal resources, which produces a more efficient, patient-centric contingent staffing program.
The federal Health Resources & Services Administration projects a national shortfall by 2038 of 141,160 full-time physicians across all specialties. Today, an estimated 56,000 physicians work as locum tenens – temporarily filling healthcare staffing gaps – a number that is expected to grow.
Even prior to this strategic investment, UPMC benefited from VeloSource’s ongoing evolution into a full workforce solutions provider, using Syncx to develop internal and external staffing solutions.
“With more than 40 hospitals and hundreds of outpatient locations, UPMC has the ability to staff physicians where they are most needed – but this is a complex process to manage and a meaningful challenge for all health systems,” said Nick Shapiro, vice president at UPMC Enterprises. “VeloSource and Syncx bring an AI-enabled, intuitive, technological solution that creates a cost-effective and efficient pathway to fill staffing gaps, ensuring uninterrupted care for patients. We look forward to further refining this technology so it can solve clinical workforce challenges for health systems and patients nationwide.”
To learn more about VeloSource, please visit www.velosource.com.
To learn more about UPMC Enterprises, please visit https://enterprises.upmc.com.
About VeloSource
Recognized by Staffing Industry Analysts as a 2026 Largest Locum Tenens Staffing Firms in the U.S. and a 2025 Best Staffing Firm to Work For, VeloSource is a leading healthcare workforce solutions provider specializing in Locum Tenens services. The company combines a full suite of quality workforce solutions powered by intuitive platform technology, including VMS, MSP, physician float pool, and applicant tracking systems, with a vast network of highly qualified physicians, CRNAs, Physician Assistants, and Nurse Practitioners. VeloSource provides exceptional medical talent with healthcare facilities across the United States, ensuring quality patient care and optimal workforce solutions. Learn more at www.velosource.com
About Interlock Equity
Headquartered in Los Angeles, Interlock Equity is a private equity firm dedicated to partnering with leadership teams of knowledge-based, people-driven businesses. Interlock invests in lower middle-market companies across North America, with a focus on mission-critical B2B and healthcare services. By providing strategic capital, deep industry expertise, and a collaborative approach, Interlock helps founders and management teams unlock transformative growth. Learn more at www.interlockequity.com
About VeloSource: Recognized by Staffing Industry Analysts as a 2025 & 2026 ‘Best Staffing Firms to Work For,’ VeloSource is a leading healthcare staffing and recruitment agency specializing in Locum Tenens services. By providing a vast network of highly qualified physicians, CRNAs, Physician Assistants, and Nurse Practitioners, VeloSource connects exceptional medical talent with healthcare facilities across the United States, ensuring quality patient care and optimal workforce solutions.
