market folly

Barry Rosenstein's hedge fund firm JANA Partners has filed an amended 13D with the SEC regarding its position in Team Health Holdings (TMH).  Per the filing, JANA's ownership stake remains unchanged at 7.91% of the company with 5.89 million shares.

Their 13D was filed to note that on October 30th, they entered into a "voting and support agreement" relating to the merger where JANA has agreed to vote its shares in favor of Team Health's proposed acquisition by Blackstone Group for $6.1 billion.

Per Google Finance, Team Health Holdings is "a provider of outsourced healthcare professional staffing and administrative services to hospitals and other healthcare providers. The Company operates through four segments: Hospital Based Services, IPC Healthcare, Specialty Services and Other Services. The Hospital Based Services segment provides healthcare service programs to users of healthcare services on a fee for service, as well as a cost plus or contract basis. The IPC Healthcare segment consists of IPC and provides acute hospital medicine and post-acute provider service programs to users of healthcare services. The Specialty Services segment provides healthcare service programs to users of healthcare services in an outpatient setting or in a non-hospital-based environment. The Other Services segment is an aggregation of locums staffing, scribes, and billing, collection and consulting services that provides a range of other healthcare services."