D&Y Acquires Psychiatrists Only, LLC

Jan 05, 2010, 10:04 ET from TeamHealth

KNOXVILLE, Tenn., Jan. 5 /PRNewswire-FirstCall/ -- D&Y (www.dystaffing.com), a division of TeamHealth, is expanding its healthcare staffing specialty coverage with the acquisition of Atlanta-based Psychiatrists Only, LLC. Since 1998, Psychiatrists Only has recruited qualified psychiatrists for locum tenens and permanent placement positions for healthcare facilities. For its most recent fiscal year, Psychiatrists Only reported net revenue of approximately $6.0 million.

As a division of D&Y, Psychiatrists Only will maintain its name, and Wayne Parton will continue in his role as Vice President, as will the incumbent and experienced recruiting professionals.

"Our group is excited to become a part of D&Y because both organizations share the same commitment to recruiting the highest-quality physicians," states Mr. Parton. "We believe this partnership will enhance our ability to create desirable matches between healthcare institutions and physicians, as well as provide more comprehensive solutions for our customers."

"Seeking to diversify our specialty coverage, we were attracted to Psychiatrists Only because of their prominent reputation for recruiting quality psychiatrists," states Susie Brown, Chief Operating Officer, D&Y. "Psychiatrists Only and D&Y share the same commitment to personal attention to our customers. We look forward to working with Mr. Parton as we develop this partnership."

About D&Y

Since 1989, D&Y, a division of TeamHealth, has set the standard for excellence in locum tenens and permanent placement. Working closely with both the healthcare facility and the physician, D&Y ensures that a successful relationship is formed. D&Y locum tenens and permanent placement specialties include primary care, hospital medicine, anesthesiology, radiology, and various sub-specialties. For more information about D&Y, visit www.dystaffing.com.

About TeamHealth

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 six principal service lines located in 12 regional sites, TeamHealth's more than 6,100 affiliated healthcare professionals provide emergency medicine, hospital medicine, teleradiology, urgent care, and pediatric staffing and management services to more than 550 civilian and military hospitals, clinics, and physician groups in 46 states. For more information about TeamHealth, visit www.teamhealth.com.

Psychiatrists Only

Established in 1998, Psychiatrists Only, LLC is based in Atlanta, Georgia. Psychiatrists Only is a national physician recruitment firm specializing in locum tenens and permanent placement of psychiatrists. The company's success is due to its ability to create desirable matches between healthcare institutions and physicians. For more information about Psychiatrists Only, visit www.locum-tenens.us.

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