Type Public Industry Healthcare Total equity US$4 Billion (2010) Revenue 7.35 billion USD (2012) Founded 1979 | Traded as NYSE: TMH Operating income Website teamhealth.com Number of employees 20,000 | |
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Headquarters Knoxville, Tennessee, United States CEO Leif M. Murphy (Sep 2016–) Subsidiaries IPC The Hospitalist Company Inc. Parent organizations Team Finance LLC, Health Finance CORP, Tennessee Parent, Inc. | ||
TeamHealth is an American hospital staffing firm based in Knoxville, Tennessee. 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.
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History
Team Health was founded in Knoxville in 1979 by Dr. John Staley.
The company made a $173 million IPO in 2005, but later withdrew after being acquired by private equity firm Blackstone Group in November 2005. Blackstone Group later took the company public in 2009, seeking an initial IPO of $100 million.
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. Later that year, the company acquired IPC Healthcare Inc., a smaller competitor, for $1.6 billion.
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. 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.
Acquisitions
In recent years, Team Health has expanded with a large number of acquisitions, including: