Blackstone, Government Give Team Health New Cash to Pay Doctors

Team Health Holdings Inc. got fresh lifelines from the government and its sponsor Blackstone Group Inc. to help it pay doctors and debt interest as it deals with continued pressures from the pandemic.

Team Health obtained an additional $105 million of financing through the CARES Act in July, according to people familiar with the matter, following an earlier round of government funding it disclosed in May. At the end of June, Team Health had $696 million of cash, which increased to more than $800 million after it obtained the CARES Act money, said the people, who asked not to ...