Team Health buys back $12 million of its 11¼% notes

By Devika Patel

Knoxville, Tenn., Feb. 9 - Team Health Inc. retired $12 million of its 11¼% senior subordinated notes, according to a press release.

The notes were repurchased in the open market for $10 million plus interest. The total gain on the transaction, net of the write-off of deferred financing costs, was $1.6 million.

Team Health is a Knoxville, Tenn.-based provider of outsourced medical staffing, management, administrative and other support services.

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