U.S. Markets close in 1 hr 13 mins

Team Health secondary stock offering priced

KNOXVILLE, Tenn. (AP) -- Team Health said Tuesday that a secondary offering of about 9.6 million shares of its common stock has been priced at $33.40 per share.

That is almost 2 percent below their closing price of $33.94 on Monday.

Ensemble Parent LLC is selling the majority of the shares, which represents its remaining stock in the company. Some of Team Health's executives and board members are also selling stock. Ensemble Parent is an investment fund affiliated with investment manager The Blackstone Group LP.

Team Health Holdings Inc., which provides physician staffing services for hospitals, is based in Knoxville, Tenn.

Its stock fell 84 cents, or 2.5 percent, to $33.09 in afternoon trading. The shares have traded between $19.90 and $35.39 over the past year.