KNOXVILLE, Tenn., Jan. 11, 2017 /PRNewswire/ -- Team Health
Holdings, Inc. ("TeamHealth" or the "Company") (NYSE: TMH), a
leading physician services organization, today announced that its
stockholders approved the acquisition of TeamHealth by funds
affiliated with Blackstone and certain co-investors at its special
meeting of stockholders held today. Subject to the satisfaction of
the remaining customary closing conditions, TeamHealth expects the
transaction to close in the first quarter of 2017. Upon the closing
of the transaction, TeamHealth stockholders will be entitled to
receive $43.50 per share in cash.
About TeamHealth
At TeamHealth (NYSE: TMH), our purpose is to perfect
physicians' ability to practice medicine, every day, in everything
we do. Through our more than 20,000 affiliated healthcare
professionals and advanced practice clinicians, TeamHealth offers
outsourced emergency medicine, hospital medicine, critical care,
anesthesiology, orthopedic hospitalist, acute care surgery,
obstetrics and gynecology hospitalist, ambulatory care, post-acute
care and medical call center solutions to approximately 3,300 acute
and post-acute facilities and physician groups nationwide. Our
philosophy is as simple as our goal is singular: we believe better
experiences for physicians lead to better outcomes—for patients,
hospital partners and physicians alike. Join our team; we
value and empower clinicians. Partner with us; we deliver on
our promises. Learn more at http://www.teamhealth.com.
The term "TeamHealth" as used throughout this release includes
Team Health Holdings, Inc., its subsidiaries, affiliates,
affiliated medical groups and providers, all of which are part of
the TeamHealth organization. "Providers" are physicians, advanced
practice clinicians and other healthcare providers who are employed
by or contract with subsidiaries or affiliated entities of Team
Health Holdings, Inc. All such providers exercise independent
clinical judgment when providing patient care. Team Health
Holdings, Inc. does not have any employees, does not contract with
providers and does not practice medicine.
Forward-Looking Statements
This communication contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Some of these statements can be identified by terms and
phrases such as "anticipate," "believe," "intend," "estimate,"
"expect," "continue," "could," "should," "may," "plan," "project,"
"predict" and similar expressions. The Company cautions that such
"forward looking statements," including without limitation, those
relating to the acquisition of the Company by funds affiliated with
Blackstone (the "acquisition") being completed within the
anticipated timeframe or at all, the realization of the expected
benefits of the acquisition, the Company's and the combined
business's future business prospects, revenue, working capital,
professional liability expense, liquidity, capital needs, interest
costs and income, wherever they occur in this communication or in
other statements attributable to the Company are necessarily
estimates reflecting the judgment of the Company's senior
management and involve a number of risks and uncertainties that
could cause actual results to differ materially from those
suggested by the "forward looking statements." Factors that could
cause our actual results to differ materially from those expressed
or implied in such "forward-looking statements," include but are
not limited to the occurrence of any event that could give rise to
a termination of the merger agreement between the Company and
affiliates of Blackstone, the risks that the proposed acquisition
disrupts current plans and operations, current or future government
regulation of the healthcare industry, exposure to professional
liability lawsuits and governmental agency investigations, the
adequacy of insurance coverage and insurance reserves, as well as
those factors detailed from time to time in the Company's filings
with the Securities and Exchange Commission.
The Company's forward looking statements speak only as of the
date hereof and the date they are made. The Company disclaims any
intent or obligation to update "forward looking statements" made in
this communication to reflect changed assumptions, the occurrence
of unanticipated events, or changes to future operating results
over time.
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SOURCE TeamHealth