IPC The Hospitalist Company Acquires Delaware Practice
NORTH HOLLYWOOD, Calif., Nov. 14, 2012 (GLOBE NEWSWIRE) -- IPC The Hospitalist Company, Inc. (Nasdaq:IPCM), a leading national hospitalist physician group practice company, announced today that it has acquired Christiana Medical Group, P.A. (CMG). An acute care hospitalist practice, CMG is based in Newark, Delaware and has operations in the Wilmington/Newark area. The acquisition of CMG represents a further expansion for IPC in the Delaware market where the Company already has a well-established
R. Jeffrey Taylor, President and Chief Operating Officer of IPC, stated, "The CMG acquisition marks our second transaction in the mid-Atlantic region this month. The combining of CMG's operations with IPC will allow us to create operational efficiencies, while enhancing our outreach to the referring physician community in the region. As with all practices IPC acquires, our resources and capabilities will enable CMG's hospitalists to optimize their roles as true partners to their hospitals, delivering high quality care to their patients while lowering the overall cost of care."
Ed Crandell, IPC's Executive Director for the region, adds, "CMG has a well-deserved reputation for excellence and therefore provides an ideal complement to our existing Delaware practice. Our two groups have worked together for many years, and joining forces will enhance our ability to align more effectively with the facilities we serve. Together, the two practice groups will create synergies leading to more focus on quality, improved physician coverage, and increased patient satisfaction."
The CMG acquisition is expected to generate approximately 50,000 acute patient encounters per year.
About IPC The Hospitalist Company, Inc
IPC The Hospitalist Company, Inc. (Nasdaq:IPCM) is a leading physician group practice company focused on the delivery of hospitalist medicine and related facility-based services. IPC's physicians and affiliated providers practice in hospitals or other inpatient facilities, including acute, post-acute and long-term care settings. The Company offers its providers the comprehensive training, information technology, and management support systems necessary to improve the quality and reduce the cost of patient 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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