Expands Presence in Greater Phoenix Market
NORTH HOLLYWOOD, Calif., March 9 /PRNewswire-FirstCall/ -- IPC The Hospitalist Company, Inc. (Nasdaq: IPCM), a leading national physician group practice company, announced today that it has acquired Acclaimed Internal Medicine, PLLC (AIM) of Mesa, Arizona. The acquisition represents a continued expansion into the greater Phoenix market, where IPC has already established a significant presence. IPC expects to add approximately 55,000 patient encounters annually from the acquisition of AIM.
Adam Singer, M.D., IPC's Chairman and CEO, said, "As part of our overall growth strategy, we are always looking for opportunistic in-market acquisitions to deepen our penetration of existing markets. AIM is an ideal fit, as it enables IPC to leverage its core strengths to the benefit of AIM's clients, many of whom we already serve. For example, IPC and AIM each currently have practices at Banner Baywood Medical Center; together, the two existing practice groups can work to improve coverage, focus on quality, and increase patient satisfaction. Additionally, IPC will utilize its existing regional management infrastructure to support this combined practice."
Saul Blair, IPC's Executive Director for the Phoenix region, commented, "AIM's providers have practiced and will continue to practice in Banner Baywood and nearby facilities. The combining of AIM's operations with IPC will give us greater capability to focus on operational and quality initiatives, enhance clinical communications, and coordinate recruitment efforts."
The AIM owners, Drs. Pesari, Horeish and Martinez, will remain active in the practice group as IPC employees. Dr. Pesari, a former IPC hospitalist, remarked, "I am delighted to be returning to IPC after a several year hiatus. I know from experience the complete infrastructure that IPC brings to the table, and it is just what our practice needs to take the next steps in its development."
About IPC The Hospitalist Company, Inc.
IPC The Hospitalist Company, Inc. (Nasdaq: IPCM) is a leading national physician group practice company focused on the delivery of hospitalist medicine services. IPC's physicians and affiliated providers manage the care of hospitalized patients in coordination with primary care physicians and specialists. The Company provides its hospitalists with the comprehensive training, information technology, and management support systems necessary to improve the quality and reduce the cost of inpatient 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.|
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