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 8,792,572 shares of TeamHealth common stock (including the exercised underwriter’s option), resulting in gross proceeds of $253,665,702.20. After giving effect to the offering, Ensemble Parent LLC owns approximately 14.2% of TeamHealth’s common stock. Credit Suisse 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 8,500 affiliated healthcare professionals provide emergency medicine, anesthesia, hospital medicine, urgent care, and pediatric staffing and management services to more than 800 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, Brian Rosenzweig and John Kupiec (Capital Markets); Sean Austin and Devin Heckman (Tax); Jeanne Annarumma (Executive Compensation and Employee Benefits).
