Team Health Holdings Inc. reported net revenues of $478.7 million for the first quarter of 2012, a 16% increase compared with the same period in 2011. Reported net earnings were $14.4 million, compared with net earnings of $20.1 million in the first quarter of 2011. Projected growth in net revenue for the full year of 2012 has been revised to an expected range of 14% to 15% from the prior 12% guidance.
The company also announced the acquisition of the Exigence Group and its related entities. Based in Amherst, NY, Exigence provides care to approximately 500,000 patients each year through the management and staffing of 12 emergency departments, three hospital medicine programs, and eight freestanding, patient-centered urgent care centers operating under the name Immediate Care Centers. The group’s current operations are located in New York, Ohio, Pennsylvania, and Texas.