TeamHealth Completes Reduced IPO

TeamHealth sold 13.3 million shares at $12.50 per share in its IPO on the NYSE under the ticker TMH. The offering was smaller than its planned 20 million share offering that had a price range of between $14 and $16 per share. By the trading day's end the healthcare staffing provider's stock had risen 6.75% to $12.80 per share. The Blackstone Group decided to pull its shares from the offering and retained a 71% ownership stake in the company following the offering.