Blackstone-Backed TeamHealth Scores $1.23 Billion New Money (1)

Physician staffing firm TeamHealth Inc. told investors that it received fresh financing commitments from a consortium led by Brigade Capital Management LP and King Street Capital Management LP, according to people with knowledge of the situation.

The proposed debt package — which will help the firm tackle near-term maturities — is split between $750 million in new first-lien notes and a $475 million accounts receivable facility, backed by separate collateral, said the people, who asked not to be named because the matter is private.

The Blackstone Inc.-backed company — which staffs emergency rooms with doctors and support personnel ...