US healthcare recruiter Team Health has seen net revenue rise 27.9% for Q2 2016 helped by last year's acquisition of nursing home staffing specialist IPC.

According to Q2 results, net revenue increased to $1.12bn (£840m) over the second quarter of 2015, $185.7m of which is associated with IPC.

Commenting on the figures, Team Health president and chief executive Mike Snow said the firm’s August 2015 acquisition of IPC had been the largest contributor to the Team Health’s growth over the second quarter of the year.

“We continue to focus on integrating IPC to provide for future growth and remain on target to achieve the cost and revenue synergies as initially targeted. Same contract revenue was impacted by a reduced contribution from same contract pricing, and while our acquisition pipeline remains active and robust, the contribution from acquisitions in our second quarter results was slightly lower than expected due to the timing of a few near term opportunities.

“However, as we look ahead, we continue to see significant growth opportunities in the market and remain enthusiastic about our prospects, strategic plan and the ability to drive long term value for our shareholders."

Team Health Q2 results at a glance:

• Net revenue increased 27.9% to $1.12bn over second quarter of 2015 ($185.7m associated with IPC)
• Net earnings attributable to Team Health Holdings were $18.8m, $49.7m after adjustments
• Diluted net earnings per share of $0.25, adjusted EPS of $0.66
• Adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) increased 19.9% to $119.2m ($15.8m associated with IPC)