TeamHealth Holdings News Release (08/04/15)
TeamHealth Holdings Inc. reported revenues of $878 million for the second quarter of 2015, up 30.1% from $675.1 million in the second quarter of 2014. Net earnings totaled $28.9 million, down from $30.2 million in the year-ago quarter.
Buyers of a business generally expect sellers to be responsible for certain liabilities relating to when the seller owned its business—a concept mergers and acquisitions professionals refer to as indemnification. Indemnification is one of the most heavily negotiated, and potentially most significant, provisions of a purchase agreement, and understanding the terminology common to such agreements is essential when negotiating a deal. Attorney Paul Pincus of Ortoli Rosenstadt LLP explains what sellers are liable for, how a seller’s liability may be limited, and how buyers may seek to fund potential indemnity claims.
PR Newswire (08/03/15)
BG Staffing Inc. reported revenues of $49.8 million in the second quarter of 2015, up 16.2% from $42.8 million in the second quarter of 2014. Net income totaled $1.5 million, a change from $0.2 million in the year-ago quarter.
TeamHealth Holdings News Release (08/04/15)
Team Health Holdings Inc. has announced a definitive agreement to acquire IPC Healthcare Inc., a national acute hospitalist and post-acute provider organization. The boards of directors of both companies have approved the transaction.
Team Health also has acquired the operations of Patchogue, NY-based Brookhaven Anesthesia Associates. The acquisition will add more than 30,000 annual anesthesia cases to TeamHealth’s existing anesthesia operations.
Agile News Release (08/03/15)
General Employment Enterprises Inc., a provider of specialty staffing services and solutions, has acquired Atlanta-based Agile Resources Inc., a provider of information technology staff augmentation and consulting services.
Globe Newswire (08/03/15)
RCM Technologies Inc. has acquired Pennsylvania-based engineering firm Substation Design Services LLC to enhance RCM’s engineering services capabilities.
Wall Street Journal (08/03/15) Jeffrey Sparshott
Manufacturers expanded at a slower pace in July, according to the Institute for Supply Management. The ISM’s manufacturing purchasing managers index declined to 52.7 in July from 53.5 in June. A reading above 50 indicates expansion. The July data are the latest in a series of mixed reports for U.S. manufacturers.
“Obviously we’ve been kind of up and down, with signs of hope followed by some level of disappointment,” says Bradley Holcomb, who oversees the ISM survey. “Nevertheless, you’ve got to like the fact that we’ve been growing for 31 consecutive months. And I don’t see anything in terms of headwinds that would slow us down at all.”
The employment index decreased to 52.7 in July from 55.5 in June. Meanwhile, the ISM new orders index rose to 56.5 in July from 56 in June. New orders, which have risen for four consecutive months, are often seen as a leading indicator of activity.
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