TeamHealth Expands Into Anesthesia Market With Acquisition of Anesthetix
KNOXVILLE, TN—TeamHealth (NYSE: TMH) announced today the acquisition of Anesthetix Management LLC ("Anesthetix"), a nationally recognized provider of comprehensive anesthesiology and pain management service solutions to hospitals and surgery centers throughout the United States. Headquartered in Palm Beach Gardens, Fla., Anesthetix currently serves clients in 10 states. For the twelve months ending September 30, 2009, Anesthetix reported net revenue of approximately $53 million.
"One of the reasons we were attracted to TeamHealth is that they share our commitment to metrics-driven quality and customer-focused service," says Steven M. Gottlieb, M.D., President and CEO of Anesthetix. "By partnering with TeamHealth, we will have a deeper pool of proven resources to better serve our hospital partners, our surgeon customers, and our outstanding clinicians. This expands our vision for a local delivery model supported by a national platform." Dr. Gottlieb is one of the group's co-founders and will serve as CEO of TeamHealth's anesthesia service line. The group's other co-founder, Tushar Ramani, M.D., will remain with the organization as President of TeamHealth's anesthesia service line.
"Anesthetix has a reputation for recruiting and retaining high quality physicians and CRNAs. We are pleased to have a group of their caliber join TeamHealth," says Greg Roth, President and CEO, TeamHealth. "Our partnership with Anesthetix also demonstrates our commitment to meeting the needs of our hospital clients by providing them with a broader spectrum of services."
Founded in 2000, Anesthetix is a nationally recognized provider of comprehensive anesthesiology and pain management services for hospitals and surgery centers throughout the United States. Working with more than 180 providers in 10 states, Anesthetix has developed a unique service platform sought after by both healthcare providers and healthcare managers alike.
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 6,200 affiliated healthcare professionals provide emergency medicine, hospital medicine, anesthesiology, teleradiology, urgent care, and pediatric staffing and management services to more than 560 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.
Back to previous page