IPC The Hospitalist Announces Purchase of Select Operations of Cape Coral Hospitalists
IPC The Hospitalist Company, Inc. (Nasdaq: IPCM), a leading national hospitalist physician group, announced today that it is expanding its presence in Florida with the acquisition of select operations of Cape Coral Hospitalists, Inc. (CCH), headquartered in Ft. Myers, Florida.
R. Jeffrey Taylor, President and COO of IPC, stated, "This is our second acquisition in Florida in the past 30 days, and we continually look for opportunities to further expand our presence throughout the state. Florida still holds significant growth potential for IPC in both acute and post-acute care facilities. As with any practice we acquire, the physicians joining IPC can look to us for resources and expertise to continually add value to their hospitals and practices, and to constantly improve the quality of patient care."
CCH principal Anand R. Mahadevan, M.D. will continue to provide support to the practice under IPC. Dr. Mahadevan commented, "Joining forces with a strong national company such as IPC ensures that a practice can be solid and stable despite the looming uncertainties of healthcare reform. IPC is clearly the 'go-to' company for independent hospitalist practices considering alternative ways to secure their future. We believe that as a part of IPC, the practice will further enhance its reputation with both facilities and community physicians who rely upon us to deliver high quality and cost-effective care to their patients."
The acquired operations of CCH represent approximately 13,000 encounters on an annualized basis.
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