Team Health Holdings, Inc. Announces Redemption of 11.25% Senior Subordinated Notes Due 2013
KNOXVILLE, Tenn., Nov. 1, 2010 /PRNewswire-FirstCall/ -- Team Health Holdings, Inc. ("TeamHealth") (NYSE: TMH), one of the largest providers of outsourced healthcare professional staffing and administrative services to hospitals and other healthcare providers in the United States, today announced that its wholly owned subsidiaries, Team Finance, LLC and Health Finance Corporation, Inc. will redeem all of their 11.25% Senior Subordinated Notes Due 2013 (the "Notes") that remain outstanding on December 1, 2010 at a redemption price of 102.813% plus accrued and unpaid interest. An aggregate principal amount of $45,523,000 of the Notes will be redeemed. The notice of redemption will be distributed to the holders of the Notes on or about November 1, 2010.
Questions regarding the redemption should be directed to The Bank of New York Mellon Trust Company, N.A., 111 Sanders Creek Parkway, East Syracuse, NY 13057, Attn: Bond Redemption Unit, or by telephone at 1-800-254-2826.
To learn more about TeamHealth, please visit the company's website at www.teamhealth.com. TeamHealth uses its website as a channel of distribution for material Company information. Financial and other material information regarding TeamHealth is routinely posted on the Company's website and is readily accessible.
TeamHealth (Knoxville, Tenn.) (NYSE: TMH) was founded in 1979 and has become one of the largest suppliers of outsourced healthcare professional staffing and administrative services to hospitals and other healthcare providers in the United States. Through its seven principal service lines located in 14 regional sites, TeamHealth's approximately 5,600 affiliated healthcare professionals provide emergency medicine, hospital medicine, anesthesia, teleradiology, and pediatric staffing and management services to approximately 525 civilian and military hospitals, clinics, and physician groups in 46 states. For more information about TeamHealth, visit www.teamhealth.com.
Forward Looking Statements
Statements contained herein that are not historical facts and that reflect the current view of Team Health Holdings, Inc. (the "Company") about future events and financial performance are hereby identified as "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some of these statements can be identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "could," "should," "may," "plan," "project," "predict" and similar expressions. The Company cautions that such "forward looking statements," including without limitation, those relating to the Company's future business prospects, revenue, working capital, professional liability expense, liquidity, capital needs, interest costs and income, wherever they occur in this or in other statements attributable to the Company, are necessarily estimates reflecting the judgment of the Company's senior management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the "forward looking statements." Factors that could cause our actual results to differ materially from those expressed or implied in such forward-looking statements include but are not limited to current or future government regulation of the healthcare industry, exposure to professional liability lawsuits and governmental agency investigations, the adequacy of insurance coverage and insurance reserves, as well as those factors detailed under the caption "Risk Factors" in the Company's most recent annual report on Form 10-K filed with the Securities and Exchange Commission and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's most recent quarterly report on Form 10-Q and the Company's most recent annual report on Form 10-K. The Company's "forward looking statements" speak only as of the date hereof and the Company disclaims any intent or obligation to update "forward looking statements" herein to reflect changed assumptions, the occurrence of unanticipated events, or changes to future operating results over time.
SOURCE Team Health Holdings, Inc.