Market Overview

IPC Healthcare Acquires Mid-Atlantic ElderCare, Broadens Presence in Three States, no terms


NORTH HOLLYWOOD, Calif., Sept. 1, 2015 (GLOBE NEWSWIRE) -- IPC Healthcare, Inc. (Nasdaq: IPCM), a leading national acute hospitalist and post-acute provider organization, announced today that it has acquired Mid-Atlantic ElderCare, PLLC, a Woodlawn, Va.-based post-acute provider dedicated entirely to providing medical care to patients of skilled/long-term care facilities and assisted living/retirement communities. This acquisition will broaden IPC's presence in Virginia, North Carolina, and Tennessee, adding more than 64,000 encounters on a combined annualized basis to IPC's post-acute operations.

"We are pleased to welcome Mid-Atlantic ElderCare to the IPC family. Their presence expands IPC's geographic coverage in the mid-Atlantic area, while being very complementary to our existing post-acute and behavioral health practices," said R. Jeffrey Taylor, president and COO of IPC Healthcare.

Taylor added, "This acquisition also continues IPC's strategic expansion to partner with the best post-acute practices around the country and further strengthens our leadership position in managing the total episode cost of care under the Bundled Payment for Care Improvement (BPCI) Initiative and other similar programs."

Jeffrey S. Garland, M.D., and Bradley Goad, D.O., co-owners of Mid-Atlantic ElderCare, will join IPC as Practice Group Leaders.

"Our physicians, nurse practitioners and physician assistants have a passion for delivering excellent patient care and we are proud to join an organization that shares that ethic," said Dr. Garland.

Dr. Goad added, "With IPC's extensive post-acute resources and unmatched support for its clinicians, we are confident that we will not only continue providing patients with the highest level of care, but will be able to offer them and the post-acute facilities even better service."


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