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AmSurg Proposes Merger with TeamHealth to Create the Market Leader in Physician Services

NASHVILLE, Tenn.--(BUSINESS WIRE)--AmSurg Corp. (Nasdaq: AMSG) today announced a proposal to combine with Team Health Holdings, Inc. (NYSE: TMH) in a stock-and-cash merger at a fixed exchange ratio of 0.768x AmSurg shares per TeamHealth share, which will result in pro forma 50/50 ownership of the combined company. TeamHealth shareholders also will receive cash consideration of $11.49 per share. The proposal has a total current value of $71.47 per TeamHealth share, or a total enterprise value of $7.8 billion, based on AmSurg’s closing stock price yesterday. This represents a current premium of 36% to TeamHealth shareholders.