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Team Health Holdings, Inc., Announces Fourth Quarter and Fiscal 2009 Financial Results
Date:2/9/2010

KNOXVILLE, Tenn., Feb. 9 /PRNewswire-FirstCall/ -- Team Health Holdings, Inc. ("TeamHealth") (NYSE: TMH), one of the largest suppliers of outsourced healthcare professional staffing and administrative services to hospitals and other healthcare providers in the United States, today announced results for its fourth quarter and full fiscal year 2009.

"The fourth quarter of 2009 proved to be a landmark quarter for TeamHealth, and we are pleased to again report consistent improvement in our operating and financial performance for the fourth quarter and full year 2009," said TeamHealth President and Chief Executive Officer Greg Roth. "We are also very pleased to have successfully completed our initial public offering in December, which provides our organization with greater financial flexibility as we pursue our multiple growth initiatives in our market  place, as evidenced by the completion of three acquisitions during the quarter," added Roth.

Initial Public Offering

In December 2009, the Company completed its IPO of 13,300,000 shares. Including the subsequent exercise of the underwriters' over-allotment option of 1,995,000 shares, a total of 15,295,000 shares were sold.  Total outstanding common shares were 62,401,000 as of December 31, 2009, and total outstanding common shares after exercise of the over-allotment option were 64,396,000.

The Company's net proceeds of approximately $168.5 million from the offering are being used for the pro rata redemption of approximately $157.5 million aggregate amount of its outstanding 11.
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SOURCE Team Health Holdings, Inc.
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