TeamHealth Acquires Everest Inpatient Physicians and Geriatric Essentials

Completes First Acute and Post-acute Care Acquisitions Following Merger with IPC Healthcare

Dec 17, 2015, 16:21 ET from TeamHealth

KNOXVILLE, Tenn., Dec. 17, 2015 /PRNewswire/ -- TeamHealth Holdings Inc. (NYSE: TMH), a leading physician services organization, announced the acquisition of Houston, Texas-based Everest Inpatient Physicians and Jackson, Tennessee-based Geriatric Essentials. These acquisitions mark the organization's first in the acute and post-acute care space following TeamHealth's merger with IPC Healthcare on November 23.

Specializing in both acute and post-acute medicine, Everest Inpatient Physicians provides services for approximately 27,000 patient encounters annually through partnerships with six hospitals throughout southwestern Houston, including Memorial Hermann Health System, an existing TeamHealth client for emergency medicine, hospital medicine, OB/GYN hospitalist and urgent care services.

Geriatric Essentials' advanced nurse practitioners partner with 19 nursing homes, assisted care living facilities and assisted residential communities throughout Tennessee and Mississippi to provide psychiatric and multidisciplinary behavioral interventions. Through these partnerships, the group provides services for approximately 9,000 patient encounters annually.

"TeamHealth is committed to partnering with the best acute and post-acute practices in the country, and the addition of these well-established groups to TeamHealth complements our existing business and will both deepen and expand our presence in acute and post-acute facilities throughout Texas, Tennessee and Mississippi," said Michael D. Snow, president and CEO of TeamHealth. "Through our acquisition of Everest Inpatient Physicians, we have the opportunity to expand our long-standing relationship with Memorial Hermann and further demonstrate the value of integrated services as we focus on providing an array of services along the patient continuum of care. Additionally, our partnership with Geriatric Essentials highlights our focus on providing services in the post-acute space, including behavioral healthcare."

"Our physicians and nurse practitioners have a passion for delivering excellent patient care, and we are proud to join an organization that shares that commitment. In this ever-changing healthcare environment, it is increasingly difficult for independent groups to meet all the new demands of value-based care," said Pragnesh Shah, MD, president and CEO for Everest Inpatient Physicians.

"Having a partner like TeamHealth to provide us the infrastructure and support that is needed to meet the new challenges of healthcare reform is critical to enhance our organizational health," said Daryl Dichoso, MD, chief operating officer for Everest Inpatient Physicians.

"We are excited to join TeamHealth and IPC Healthcare, organizations that have had tremendous growth in post-acute care and are now leveraging their knowledge to do the same in behavioral health," said David Hughes, NP, president of Geriatric Essentials. "Combining our regional expertise in behavioral health with the infrastructure of TeamHealth and IPC will allow us to improve care and outcomes for our patients. We are also eager to contribute to the organization's intellectual capital in the behavioral healthcare arena nationally."

About TeamHealth
At TeamHealth (NYSE: TMH), our purpose is to perfect our physicians' ability to practice medicine, every day, in everything we do. Through our more than 16,000 affiliated physicians and advanced practice clinicians, TeamHealth offers outsourced emergency medicine, hospital medicine, anesthesia, orthopaedic hospitalist, acute care surgery, obstetrics and gynecology hospitalist, urgent care, post-acute care and medical call center solutions to approximately 3,400 civilian and military hospitals, clinics, physician groups and post-acute care facilities nationwide. Our philosophy is as simple as our goal is singular: we believe better experiences for physicians lead to better outcomes—for patients, partners and physicians alike. Join our team; we value and empower clinicians. Partner with us; we deliver on our promises. Learn more at http://www.teamhealth.com.

The term "TeamHealth" as used throughout this release includes Team Health Holdings, Inc., its subsidiaries, affiliates, affiliated medical groups and providers, all of which are part of the TeamHealth organization. "Providers" are physicians, advanced practice clinicians and other healthcare providers who are employed by or contract with subsidiaries or affiliated entities of Team Health Holdings, Inc. All such providers exercise independent clinical judgment when providing patient care. Team Health Holdings, Inc. does not have any employees, does not contract with providers and does not practice medicine.

Logo - http://photos.prnewswire.com/prnh/20131111/CL14595LOGO

SOURCE TeamHealth



RELATED LINKS

http://www.teamhealth.com