NORTH HOLLYWOOD, Calif., Dec. 19, 2013 (GLOBE NEWSWIRE) -- IPC The Hospitalist Company, Inc. (Nasdaq:IPCM), a leading national hospitalist physician group practice company, announced today that it has acquired two Michigan-based practice groups: Bruce G. Johnson, D.O., PC, based in Roseville; and Allen Trager, D.O., PC, located in Flint. In addition, the company acquired the practice of Victor Toledano, M.D., PA, based in Ft. Lauderdale, Florida. Each of the acquired practices is located in markets where IPC already has an established presence.
Commenting on the acquisitions, R. Jeffrey Taylor, President and COO of IPC, stated, "These transactions represent IPC's ongoing commitment to support the growth of our core markets, both in acute care and post-acute care, which continue to hold much opportunity for expansion. With the effects of healthcare reform becoming a reality for hospitalists, regional practice groups increasingly look to IPC as a source of stability and support while they avail themselves of our financial and administrative resources in order to further their goals of improving outcomes and quality of patient care."
Patient encounters from the three transactions are expected to be approximately 44,000 on an annualized basis. With these acquisitions, a total of 19 acute and post-acute hospitalist practices chose to join IPC in 2013, representing a combined total of approximately 950,000 incremental patient encounters.
Reflecting on the year at IPC, Adam Singer, M.D., Chairman and CEO, remarked, "2013 continues our track record of uninterrupted expansion since the company's founding 19 years ago. The ingredients for our success are the same as they have always been: IPC's clinicians remain focused on providing high quality patient care, and they practice in close alignment with the goals of our facility clients. I wish to thank all of IPC's clinicians for delivering excellent quality care to their patients with dedication, passion and integrity."
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 1,500 clinicians comprehensive training, information technology, and management support systems 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.