Team Health Holdings Inc. (NYSE: TMH) reported first quarter net revenue rose 31.0% to $840.5 million. Team Health ranks as the seventh-largest US healthcare staffing provider, but has significant other healthcare operations.

Revenue growth was driven by the increased pace of acquisitions completed in the third and fourth quarters of 2014. Acquisitions contributed 20.0%, same contract revenue contributed 7.0%, and net sales growth contributed 3.9% of the increase.

Net earnings attributable to Team Health rose 17.7% in the first quarter to $28.1 million; $49.4 million after adjustments.

“We are extremely pleased with our financial results as we generated another quarter of double digit revenue, earnings and adjusted EBITDA growth,” said President and CEO Mike Snow. “These results reflect a record top line performance for the company, with strong momentum and performance delivered across all of our growth drivers.”

The financial performance of Team Health’s recent acquisitions contributed the largest element of its revenue increase in the quarter, according to Snow. Robust patient volume growth and a continued reduction in the percentage of uninsured patients also contributed to strong same-contract performance.

“Net new contracts were the third-largest contributor to our revenue growth, as hospitals and physician groups are increasingly turning to Team Health for our best in class healthcare solutions,” Snow said. “These results reflect our integrated and complementary approach to achieving our financial targets.”

Team Health completed 18 acquisitions in 2014 and the first quarter of 2015. Last month, it acquired the operations of Akron, Ohio-based Professional Anesthesia Service Inc. This week, it announced the acquisition of the operations of Princeton, N.J.-based Princeton Emergency Physicians, which provides care to approximately 48,000 patients annually through staffing and management of the emergency department at the University Medical Center of Princeton at Plainsboro.

Shares in Team Health rose 0.37% in early afternoon trading to $59.08. The company had a market cap of $4.24 billion, according to Yahoo!