The Firm recently represented Team Health Holdings, Inc., a portfolio company of The Blackstone Group, L.P., in connection with its initial public offering. The offering of 15,295,000 shares of common stock, including the full exercise of the underwriters’ option to purchase additional shares, raised approximately $183.5 million in gross proceeds. Team Health Holdings, Inc. used the net proceeds of the offering it received to repay indebtedness.
The shares of Team Health Holdings, Inc. are now listed on The New York Stock Exchange under the ticker symbol “TMH”.
The underwriting syndicate was led by Merrill Lynch, Pierce, Fenner & Smith Incorporated, Goldman, Sachs & Co., Barclays Capital Inc. and Citigroup Global Markets Inc.
Team Health Holdings, Inc. is one of the largest suppliers of outsourced healthcare professional staffing and administrative services to hospitals and other healthcare providers in the United States. It serves approximately 550 hospital clients and their affiliated clinics in 46 states with a team of approximately 6,100 healthcare professionals, including physicians, physician assistants and nurse practitioners.
The Simpson Thacher team included Ed Tolley, Ryan Bekkerus, Nakima Benjamin, and Estella Chen (Capital Markets and Securities), William Dougherty, Brian Gingold and Nakia Elliott (Mergers and Acquisitions), Marissa Wesely and Jennifer Levitt (Banking and Credit) Brian Robbins and Michael Richman (Executive Compensation and Employee Benefits), LeAnn Leutner and Jennifer Nadborny (PCAP), and Gary Mandel and Sean Austin (Tax). Paralegal Matthew Glasser also provided valuable assistance.