TeamHealth recorded $20.4 million in net income, a 33.3 percent jump from $15.3 million in the third quarter of 2011. Adjusted EBITDA increased 20.1 percent to $58.5 million.
The company’s third quarter profit rose due to growth drives, which included same contract, acquisitions and net contract growth. According to the release, acquisition growth was the largest component of TeamHealth’s consolidated revenue growth as the recent acquisitions closed in the second half of 2011 through the third quarter of 2012 supported revenue and earnings growth.
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