TeamHealth
 | |
| Public | |
| Traded as | NYSE: TMH |
| Industry | Healthcare |
| Founded | 1979 |
| Headquarters | Knoxville, Tennessee, United States |
| Revenue |
 US$7.35 Billion (2012) |
| US$1.5 Billion (2012) | |
| Total equity | US$4 Billion (2010) |
Number of employees | 20,000 |
| Parent | Team Health Holdings Inc. |
| Website | teamhealth.com |
TeamHealth is an American hospital staffing firm based in Knoxville, Tennessee.[1] owned by Team Health Holdings Inc. Originally a provider of emergency department administrative services, it has become one of the largest suppliers of healthcare professional staff in the United States. In 2014 it ranked 573 on the Fortune 1000.[2]
History
Team Health was founded in Knoxville in 1979.[3][4]
The company made a $173 million IPO in 2005, but later withdrew after being acquired by private equity firm Blackstone Group in November 2005.[5] Blackstone Group later took the company public in 2009, seeking an initial IPO of $100 million.[6]
In November 2015, Team Health competitor AmSurg made an offer to buy the company for $8 billion, but the proposed deal was ultimately rejected by Team Health.[7] Later that year, the company acquired IPC Healthcare Inc., a smaller competitor, for $1.6 billion.[8]
In October 2016, Team Health Holdings announced it had reached an agreement to be acquired by Blackstone Group, taking the company private again in a $6.1 billion deal. As of November 2016, the deal is expected to close during the first quarter of 2017.[8] The acquisition by Blackstone Group was part of a trend of consolidation in the physician's services industry following rising administrative costs due to the Affordable Care Act.[8]
Acquisitions
In recent years, Team Health has expanded with a large number of acquisitions, including:
- 2012: Delphi Healthcare Partners (Morrisville, North Carolina) [9]
- 2014: Emergency Medicine Specialists,[10] Premier Physician Services, Inc.,[11] Certified Anesthesia Services (Washington, DC),[12] Florida Gulf-to-Bay Anthesthesiology Associates,[13] PhysAssist Scribes, Inc. (Fort Worth, Texas)[14]
- 2015: Ruby Crest Emergency Medicine[15]
References
- ↑ Harrington, Carly (15 September 2011). "TeamHealth to expand Blount County operations". Knoxville News. Retrieved 28 April 2015.
- ↑ "Team Health Holdings, Inc.". Fortune. Retrieved 28 April 2015.
- ↑ "About Us". Retrieved 28 April 2015.
- ↑ "Team Health, Inc.: Private Company Information - Businessweek". Bloomberg. Retrieved 11 November 2016.
- ↑ Gelsi, Steve (21 December 2005). "Team Health withdraws IPO after Blackstone acquisition - MarketWatch". Retrieved 10 November 2016.
- ↑ "Blackstone Seeks $100 Million For Team Health I.P.O. - The New York Times". 7 October 2009. Retrieved 11 November 2016.
- ↑ Picker, Leslie (31 October 2016). "TeamHealth Agrees to Be Sold to Blackstone - The New York Times". Retrieved 11 November 2016.
- 1 2 3 "Blackstone Group Buys TeamHealth in $6.1 Billion Deal". 31 October 2016. Retrieved 10 November 2016.
- ↑ "TeamHealth Acquires Delphi Healthcare Partners". PRNewsWire. 14 August 2012. Retrieved 28 April 2015.
- ↑ "TeamHealth Expands Michigan Presence". PRNewsWire. Retrieved 28 April 2015.
- ↑ "TeamHealth Acquires Premier Physician Services". PRNewsWire. Retrieved 28 April 2015.
- ↑ "TeamHealth acquires Washington, D.C. firm". Knoxville News-Sentinel. Retrieved 28 April 2015.
- ↑ "MTS Health Investors, LLC Completes Sale of Florida Gulf-to-Bay Anesthesiology Associates". BusinessWire. Retrieved 28 April 2015.
- ↑ "TeamHealth Acquires PhysAssist Scribes, Inc.". MarketWatch. Retrieved 28 April 2015.
- ↑ "TeamHealth Acquires Ruby Crest Emergency Medicine". PRNewsWire. Retrieved 28 April 2015.