TeamHealth rejects AmSurg offer despite $7.8B payday
- Leaving little to the imagination of the fiscal “what if,” TeamHealth, on Tuesday, rejected a $7.8 billion acquisition offer from AmSurg, which was publicly disclosed Tuesday morning, the Nashville Business Journal reported.
- The merger would have created a network of more than 1,200 healthcare faciilites and nearly 20,000 clinicians, according to a prepared statement from AmSurg.
- "[T]his is the same proposal that [our] board of directors previously reviewed, considered and rejected as not in the best interest of TeamHealth and its stockholders," the company said in a statement as reported by Nashville Business Journal.
As noted, this isn’t the first time AmSurg came knocking on TeamHealth’s door.
As reported by Modern Healthcare, the announcement was made public in an attempt to push the TeamHealth’s shareholders to stump for the merger.
In August, TeamHealth moved to buy IPC Healthcare, as previously reported by Healthcare Dive.
"The TeamHealth board reaffirmed its conclusion to reject AmSurg's proposal as it undervalues the company and contains significant execution risk. We have great confidence in our ability to continue delivering value for TeamHealth stockholders and remain focused on realizing the benefits of our agreement with IPC Healthcare, which is on track to close in the fourth quarter," said Michael Snow, president and CEO of TeamHealth.
- Nashville Business Journal TeamHealth to AmSurg: Leave us alone (and take your puny $7.8B offer with you)
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