IPC The Hospitalist Company Acquires Acute Care Hospitalist Group in Orlando
NORTH HOLLYWOOD, Calif., Oct. 7, 2013 (GLOBE NEWSWIRE) -- IPC The Hospitalist Company, Inc. (Nasdaq:IPCM), a leading national hospitalist physician group practice company, announced today that it has acquired Greater Orlando Hospitalists, P.A. (GOH), an acute care hospitalist practice based in Altamonte Springs, a suburb of Orlando, Florida. The GOH transaction represents a further expansion for IPC in the Orlando market where the Company already has an established presence.
R. Jeffrey Taylor, president and COO of IPC The Hospitalist Company, stated, "We are very pleased that GOH has selected IPC as its practice partner to achieve its growth goals with hospitals and key payers in the Greater Orlando area. This is our third acquisition in Florida this year. In Florida and elsewhere, local independent practices are proactively evaluating their options and considering the kinds of growth opportunities that IPC has to offer in this new era of healthcare reform."
Azhar Chaudry, M.D. founded GOH in 2003. Dr. Chaudry will remain with the group under IPC as Practice Group Leader. Commenting on the transaction, Dr. Chaudry said, "After ten years as a successful local practice I believe it is time to prepare for the future by adding new resources and capabilities to our group. IPC's national footprint, both in acute care and post-acute care, will enable us to align with the facilities' goals much more effectively than we could do on our own."
The practice represents an annualized volume of approximately 35,000 patient encounters.
About IPC The Hospitalist Company, Inc.
IPC The Hospitalist Company, Inc. (Nasdaq:IPCM) is a leading physician group practice company focused on the delivery of hospitalist medicine and related facility-based services. IPC's physicians and affiliated providers practice in over 350 hospitals and 800 post-acute care facilities in 28 states. The Company offers its 1,400 dedicated clinicians the comprehensive training, information technology, and management support systems necessary to improve the quality and reduce the cost of patient care in the facilities it serves. For more information, visit the IPC website at www.hospitalist.com.
Source:IPC The Hospitalist Company, Inc.