IPC The Hospitalist Company Acquires Two Florida Practices
Consolidates Position in Growing Jacksonville Market
12.18.2008
North Hollywood, Calif., December 17, 2008– IPC The Hospitalist Company, Inc. (Nasdaq: IPCM), a leading national physician group practice company, announced today that it has acquired North Florida Hospitalists (NFH) and Orange Park Hospitalists (OPH) of Jacksonville, Florida. The acquisitions represent a continued expansion into the greater Jacksonville market, where the IPC has already established a significant presence.
Adam Singer, M.D., IPC’s Chairman and CEO, said, “The NFH and OPH acquisitions build on our market position in the Jacksonville, Florida area. These in-market acquisitions demonstrate our ability to increase penetration in established markets, which is a testament to the strength of our business model. This is the third in a series of 2008 transactions designed to increase our presence throughout Florida, which is a very attractive state for many physicians seeking hospitalist careers. We are eager to continue pursuing growth opportunities throughout the state.”
John Geanes, IPC’s Executive Director for the region, commented, “We are impressed with the quality of the physicians and mid-level providers in the NFH and OPH groups. With IPC, they will have access to a greater number of resources to enable them to deliver quality inpatient care to the Jacksonville community. Our IPC-Link® software will help these providers optimize the professional fee revenues they generate for the hard work that they do. Practices that utilize our technology platform typically experience better charge capture as a result of our integrated and comprehensive practice management solution.”
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.