Team Health Holdings said Wednesday an initial public offering of its shares priced at $12 per share, below the range the company previously expected.
Team Health had said it expected shares to be priced between $14 and $16. The company is offering 13.3 million shares, down from the 20 million it had expected to offer.
Shares of the Knoxville, Tenn., hospital staffing and administrative support company are scheduled to begin trading at Wednesday market open under the symbol "TMH." The offering is expected to close Dec. 21.
Team Health does business with about 550 hospitals and related clinics in 46 states. Most of its revenue comes from providing staffing and services for hospital emergency departments.