NORTH HOLLYWOOD, Calif., Feb. 14, 2013 (GLOBE NEWSWIRE) -- IPC The Hospitalist Company, Inc. (Nasdaq:IPCM), a leading national hospitalist physician group practice company, announced today that it has acquired Internal Medicine Consultants, P.A. (IMC). The practice is based in Morristown, New Jersey, a market where IPC already has an established presence.
R. Jeffrey Taylor, President and COO of IPC, stated, "The IMC transaction is representative of our ability to expand in regions where IPC has practiced for years. We believe considerable upside potential exists for greater penetration in our existing markets. IPC continues to build a position as the partner of choice for hospitals and health systems in New Jersey and elsewhere, seeking the most efficient and comprehensive inpatient care delivery system available."
Commenting on the transaction, Michael Leung, M.D., one of IMC's founding partners, said, "For IMC, joining forces with a strong national company such as IPC is the logical next step in our practice's development. As a local independent group, we look forward to making use of IPC's extensive resources to continue to provide excellent service to our referring physicians and local facilities in these uncertain times of healthcare reform."
IMC's patient encounters are estimated at approximately 18,000 on an annualized basis.
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 hospitals or other inpatient facilities, including acute, post-acute and long-term care settings. The Company offers its providers 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.
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Source:IPC The Hospitalist Company, Inc.