First Announced Acquisition in 2009 Continues Growth Trend
NORTH HOLLYWOOD, Calif., Jan. 8 /PRNewswire-FirstCall/ -- IPC The Hospitalist Company, Inc. (Nasdaq: IPCM), a leading national hospitalist physician group practice company, announced today that it has acquired the hospitalist practice of Midwest Acute Care Consultants, Inc. (MACC) in St. Louis, Missouri. The acquisition represents continued expansion in the St. Louis market, where IPC has established a significant presence. MACC has an annualized volume run-rate of 14,000 patient encounters. Same-market acquisitions are reflected in IPC's same-market growth expectations.
Adam Singer, M.D., Chairman and CEO, said, "The purchase of MACC's hospitalist operations continues our merger and acquisition program at a healthy pace. In 2008, we completed ten acquisitions both in same-markets and in new markets. Many hospitalist practice groups are discovering that IPC offers a comprehensive business solution that includes integrated practice management infrastructure, extensive recruiting capabilities and financing to support future growth."
Glenn Appelbaum, IPC's Executive Director for the region, commented, "MACC provides an ideal complement to our existing practices at DePaul Health Center and Christian Hospital Northeast. Increasing the size of our hospitalist teams at these facilities will enhance the quality and availability of services that IPC has provided to these hospitals since it will offer the physicians more control and flexibility in scheduling coverage."
About IPC The Hospitalist Company, Inc.
IPC The Hospitalist Company, Inc. (Nasdaq: IPCM) is a leading national hospitalist 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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