Deloitte Corporate Finance LLC Advises Primary Critical Care Medical Group, Inc. in its Sale to Team Health, Inc.
NEW YORK, Oct. 15, 2014 — Deloitte Corporate Finance LLC (“DCF”) acted as exclusive financial advisor to Burbank, California-based Primary Critical Care Medical Group, Inc. (“PCCMG”), a leading hospital and critical care medicine physician practice, in the sale of its operations to Team Health, Inc. (“Team Health”), one of the nation’s largest providers of outsourced physician staffing solutions for hospitals.
“When evaluating partnership opportunities, we determined that Team Health was a natural fit,” said Bruce Gipe, MD, founder and medical director of PCCMG. “Team Health offers extensive resources in hospital medicine as well as emergency medicine management. Further, it provides unparalleled support for physicians and other clinicians. We are excited to join a provider-centric organization with a culture of high clinical and business standards.”
“We are pleased to welcome PCCMG to Team Health,” said Oliver Rogers, president of Team Health Hospital Based Services. “The group has a reputation for providing exceptional service to affiliated providers as well as hospital partners and excellent care for the patients and families they serve. The addition of PCCMG to Team Health underscores our commitment to partner with high-quality physician groups.”
“Working with the management team at PCCMG on this transaction with Team Health has been a pleasure. As consolidation in the physician practice management industry increases, management of hospital-based medical services is becoming increasingly more important,” said Mike McArthur, managing director, Deloitte Corporate Finance LLC.
About Primary Critical Care Medical Group, PC
Specializing primarily in hospital and critical care medicine, PCCMG provides these clinical services through partnerships with five hospitals and clinics in the Southern California market. PCCMG also provides hospital medicine services for more than 100 hospitals throughout California through its contract with Kaiser Permanente. Additionally, PCCMG manages and staffs the emergency department for Fallbrook Hospital in Fallbrook, CA and provides care for approximately 14,000 patients annually.
About Team Health, Inc.
Team Health (NYSE: TMH), based in Knoxville, TN, is one of the largest providers of outsourced physician staffing solutions for hospitals in the United States. Through its 19 regional locations and multiple service lines, Team Health's approximately 9,800 affiliated healthcare professionals provide emergency medicine, hospital medicine, anesthesia, urgent care, and pediatric staffing and management services to approximately 860 civilian and military hospitals, clinics, and physician groups in 46 states. Team Health was recently named one of “America’s 100 Most Trustworthy Companies” for 2014 by Forbes magazine. The term "Team Health" as used throughout this release includes Team Health, Inc., and all of its related entities, divisions, subsidiaries and affiliated physicians and physician groups. For more information about Team Health, visit www.teamhealth.com.
About Deloitte Corporate Finance LLC
Deloitte Corporate Finance LLC (DCF) provides strategic advisory services and M&A advice that help corporate, entrepreneurial and private equity clients create and act upon opportunities for liquidity, growth and long-term advantage. With an in-depth understanding of the marketplace and access to a global network of investment bankers, we help clients confidently pursue strategic transactions in both domestic and global markets. DCF, together with the Corporate Finance Advisory practices within the Deloitte Touche Tohmatsu Limited network of member firms, include in excess of 1,900 professionals, who work collaboratively across 150 international locations. With our significant experience providing investment banking services across key industries, we are able to offer our clients solutions that help them to achieve their strategic objectives. For more information, visit www.investmentbanking.deloitte.com.
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