The Firm recently represented Team Health Holdings, Inc. (“TeamHealth”) and Ensemble Parent LLC (an affiliate of The Blackstone Group) in the sale by Ensemble Parent LLC of 8,000,000 shares of TeamHealth common stock, resulting in gross proceeds of $223,360,000. After giving effect to the offering, Ensemble Parent LLC owns approximately 27.4% of TeamHealth’s common stock. BofA Merrill Lynch acted as underwriter for the offering.
TeamHealth is one of the largest providers of outsourced physician staffing solutions for hospitals in the United States. Through its multiple service lines located in 17 regional sites, TeamHealth’s more than 8,300 affiliated healthcare professionals provide emergency medicine, anesthesia, hospital medicine, urgent care, and pediatric staffing and management services to more than 790 civilian and military hospitals, clinics, and physician groups in 47 states.
The Simpson Thacher team for this transaction included Ed Tolley, Ryan Bekkerus, Ben Wells and John Kupiec (Capital Markets); Sean Austin and Devin Heckman (Tax); and Jennie Getsin (Blue Sky).
