Blackstone Group LP, TeamHealth Holdings Inc in $6.1B Deal

Blackstone Group LP (NYSE:BX) has agreed to acquire TeamHealth Holdings Inc (NYSE:TMH) for $6.1 billion.

Blackstone Group LPThe deal marks a 18% premium over TMH’s closing price Friday. Activist investor Jana Partners LLC has been looking for a piece of the company since last winter, when the firm announced an 8% stake over TeamHealth–Jana voted in favor of the agreement.

The transaction is expected to close during the first quarter of 2017, which is about two months after industry figure Leif Murphy was named as CEO of TeamHealth. He is replacing Michel Snow, who retired.

The deal is slated to improve the situation for U.S. hospital staffers as a consolidation period marks a pricing pressure for companies. TeamHealth helps to offer outsourcing services, such as emergency medicine, anesthesiology, ambulatory care and more.

Blackstone was the lead bidder for TeamHealth after the latter rejected a bid from Amsurg Corp (NASDAQ:AMSG) for $5 billion last year. TeamHeatlh then proceeded to buy IPC Healthcare Inc for $1.6 billion.

Also, make sure you check out these seven health care equipment and supplies companies to buy now, which include a company that designs and manufactures medical imaging equipment.

Another company has had a negative earnings momentum, despite its past success in discovering, developing, manufacturing and selling health care equipment. A pharmaceutical company has also been struggling.

BX shares dipped 1.7% Monday, TMH stock gained 16.2% and AMSG shares grew 2.9%.

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