TeamHealth Issues Statement

Feb 25, 2016, 10:35 ET from Team Health Holdings, Inc.

KNOXVILLE, Tenn., Feb. 25, 2016 /PRNewswire/ -- Team Health Holdings, Inc. ("TeamHealth" or the "Company") (NYSE: TMH), a leading physician services organization, today issued the following statement in response to the Schedule 13D filed today with the Securities and Exchange Commission by JANA Partners noting its intent to nominate three individuals for election to the Company's Board of Directors at the TeamHealth 2016 Annual Meeting of Shareholders:

TeamHealth welcomes communications with its shareholders and values input toward the goal of enhancing shareholder value. We have listened carefully to feedback from our shareholders and our Board and management team, with the assistance of the Company's financial advisors, have evaluated a variety of strategies to achieve this goal. Our Board's focus is on enhancing shareholder value and it has and will continue to evaluate all alternatives and make decisions that are in the best interest of all of our shareholders. We remain focused on the integration of IPC's operations and are continuing to operate efficiently so we can achieve our operational and financial goals while delivering the highest quality patient care.

The Nominating/Governance Committee of the TeamHealth Board of Directors will review and consider JANA's nominations and will make a recommendation it believes is in the best interest of all TeamHealth shareholders.

The TeamHealth Board of Directors comprises ten highly qualified and experienced directors, eight of whom are independent and of which six joined the Board in the past three years. TeamHealth's directors are proven leaders with diverse experience leading public companies and non-profit organizations in the healthcare industry. They bring expertise in management, operations, public service, finance and other areas important to TeamHealth's business.

TeamHealth's Board and management team are committed to acting in the best interest of all shareholders and to providing excellent support for our clinical community and exemplary service for our hospital partners.

Citi and Goldman, Sachs & Co. are serving as financial advisors and Simpson Thacher & Bartlett LLP is serving as legal advisor to the Company.

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 18,000 affiliated physicians and advanced practice clinicians, TeamHealth offers outsourced emergency medicine, hospital medicine, critical care, anesthesia, orthopaedic hospitalist, acute care surgery, obstetrics and gynecology hospitalist, ambulatory care, post-acute care and medical call center solutions to approximately 3,400 acute and post-acute facilities and physician groups nationwide. Our philosophy is as simple as our goal is singular: we believe better experiences for physicians lead to better outcomes—for patients, hospital 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.

Forward Looking Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations and businesses of the Company and the combined businesses of the Company and IPC.  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 realization of the expected benefits of the IPC acquisition and the Company's future business prospects, wherever they occur in this press release 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's forward looking statements speak only as of the date hereof and the date they are made. The Company disclaims any intent or obligation to update "forward looking statements" made in this press release to reflect changed assumptions, the occurrence of unanticipated events, or changes to future operating results over time.

Contacts

INVESTOR CONTACT:

David Jones TeamHealth Executive Vice President & Chief Financial Officer 865-293-5299

MEDIA CONTACT: 

Pat Ball TeamHealth Senior Vice President, Strategic Resources Group 865-293-5353

Andy Brimmer / Joe Berg  Joele Frank Wilkinson Brimmer Katcher  212-355-4449

 

SOURCE Team Health Holdings, Inc.



RELATED LINKS

http://www.teamhealth.com