TeamHealth Acquires Southwest Emergency Physicians, Inc.
KNOXVILLE, Tenn., March 22 /PRNewswire-FirstCall/ -- TeamHealth Holdings, Inc. (NYSE: TMH), announced the expansion of its presence in Virginia with the acquisition of Roanoke-based Southwest Emergency Physicians, Inc. (SWEP). Through this relationship, TeamHealth will assume the management and staffing of Salem-based Lewis Gale Medical Center's emergency department, which cares for approximately 42,000 patients annually.
"We sought to partner with an organization that has the necessary clinical and operational infrastructure to support the growing practice, provide the tools necessary to help the physicians achieve the high performance goals set by the hospital, and maintain a physician-led culture that puts patient care first," stated Robert Dowling, M.D., president of SWEP. "We look forward to working with TeamHealth to meet these objectives for our patients and the hospital."
"TeamHealth is excited to partner with the exceptional physicians that comprise SWEP, most of whom have been serving this emergency department more than 10 years," states John R. Staley, M.D., TeamHealth. "We share their commitment to supporting the hospital's goals and creating a physician-led culture that enhances physicians' ability to deliver high-quality emergency care to the Salem community."
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 13 regional sites, TeamHealth's more than 5,900 affiliated healthcare professionals provide emergency medicine, hospital medicine, anesthesia, teleradiology, and pediatric staffing and management services to more than 530 civilian and military hospitals, clinics, and physician groups in 48 states. For more information about TeamHealth, visit www.teamhealth.com.
Forward Looking Statements
Statements and information 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 from time to time in the Company's filings with the Securities and Exchange Commission. 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 TeamHealth Holdings, Inc.
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