IPC The Hospitalist Company, a provider of hospitalist medicine and related facility-based services, has acquired two Wichita, Kan., practices—Kansas Inpatient Services and Kansas Long Term Care Physicians.
The two closely related practices, known as KIS, are IPC's first acquisitions in the Wichita market. They typically serve about 90,000 patients each year.
“KIS has successfully developed a balanced and integrated mix of services in community hospitals, long-term acute-care hospitals, skilled-nursing facilities and behavioral health facilities,” Jeffrey Taylor, president and COO of IPC, said in a news release.
“Combining our regional reputation and capabilities with IPC's breadth of experience and infrastructure support will further strengthen our ability to improve the quality of care and outcomes in our marketplace,” Dr. Adam Flynn, cofounder of KIS, said in the release.
Financial details of the transaction were not disclosed, though IPC's 2012 annual report stated that cash of $26.2 million was used during the year for physician-practice acquisitions and earn-out payments on prior acquisitions, compared with $27.8 million in 2011.
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