Team Health Holdings Inc. Increases Revolving Line of Credit to $225 Million

KNOXVILLE, Tenn., Dec. 9, 2011 /PRNewswire/ -- 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 it has increased the amount of its secured revolving line of credit from $175 million to $225 million. The increase in the revolving line of credit was facilitated under the provisions of the accordion feature of the Company's existing senior credit agreement that was effective June 29, 2011.  As a result, all current terms of the revolving credit facility, including pricing and maturity remain unchanged.  The revolving line of credit matures on June 29, 2016 and the interest rate on any outstanding amounts under the revolver is priced off a grid based upon the Company's first lien net leverage ratio.  The revolving line of credit is available to the company for general corporate purposes, including the funding of strategic acquisitions, working capital, and capital expenditures subject to existing restrictions contained within the credit agreement.

"We are very pleased to have increased our revolving line of credit, which will provide our Company with additional financial flexibility, enhanced liquidity, as well as increased borrowing capacity. This improves upon our already solid capital structure to support the Company's plans for future growth," said David Jones, TeamHealth's Executive Vice President and Chief Financial Officer.

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.

About TeamHealth 

TeamHealth (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 15 regional sites, TeamHealth's more than 6,900 affiliated healthcare professionals provide emergency medicine, anesthesiology, hospital medicine, and pediatric staffing and management services to more than 700 civilian and military hospitals, clinics and physician groups in 46 states. The term "TeamHealth" as used throughout this release includes TeamHealth, Inc., and all of its related entities, companies, affiliates, subsidiaries and affiliated physician groups. 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 under the caption "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's most recent annual report on Form 10-K and the most recent quarterly report on Form 10-Q filed with the Securities and Exchange Commission.  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.