Healthcare Business News

IPC acquires Delaware hospitalist practice

By Andis Robeznieks
Posted: November 15, 2012 - 11:15 am ET

IPC the Hospitalist Co., North Hollywood, Calif., has acquired Christiana Medical Group, a Newark, Del.-based acute-care hospitalist 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,” Ed Crandell, executive director for IPC's mid-Atlantic region, said in a news release. “Together, the two practice groups will create synergies leading to more focus on quality, improved physician coverage, and increased patient satisfaction.”

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It was also noted in the release that the acquisition is expected to generate about 50,000 acute patient encounters annually.

Earlier this month, IPC acquired a practice in Red Bank, N.J., and also recently expanded into New York—the 28th state it operates in.

The company did not disclose financial terms of the deals, but in its third-quarter 2012 financial report, it was stated that "cash of $33.3 million was used in the nine months ended Sept. 30, 2012, for physician practice acquisitions and earn-out payments on prior acquisitions compared with $19.4 million in the same period of the prior year."

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