The Blackstone Group acquired TeamHealth, a leading physician services organization, for $6.1bn. The price represented a premium of approximately 33% over TeamHealth's closing share price on October 3, 2016. Neil Simpkins, a Senior Managing Director at Blackstone, commented, "We are thrilled to have the opportunity to invest in TeamHealth and once again partner with such an experienced management team and high quality business. We look forward to supporting TeamHealth during the next phase of its development."