IPC Buys Doctors Group in ConnecticutWednesday, June 26, 2013
IPC The Hospitalist Co. Inc. on Wednesday said that it acquired Sound Senior Geriatrics LLC, a post-acute hospitalist practice in Connecticut, where the company already has operations.
The North Hollywood company, which manages hospital-based and post-acute care practices, did not disclose financial details of the acquisition. So far this year, the company has acquired five doctors groups in New Jersey, Kansas, Florida and now Connecticut.
Sound Senior Geriatrics, in the coastal city of Mystic, will add about 14,000 patient visits to IPC’s total of nearly 5 million. IPC already owns a practice in nearby New London.
“We see significant opportunities for coordination with our acute care practice in this market,” said R. Jeffrey Taylor, chief operating officer of IPC, in a statement. “This acquisition will enable our practices to improve the integration of care and ultimately the outcomes for both the patients and the facilities we serve.”
Shares of IPC closed down 76 cents, or 1.5 percent, to $50.74 on the Nasdaq.