Team Health, a Blackstone-backed provider of outsourced hospital staffing services, raised $160 million by offering 13.3 million shares at $12.00, below its proposed range of $14.00 to $16.00. The deal size was cut by 47%, but an increase in primary shares from 10 to 13 million shares left net proceeds unchanged at $147 million. Blackstone did not sell on the offering after originally planning to sell 9 million shares. The Knoxville, TN-based company is expected to begin trading today on the NYSE under the ticker TMH. BofA Merrill Lynch, Goldman Sachs, Barclays Capital and Citi are the lead bookrunners on the deal.
