NORTH HOLLYWOOD, Calif., March 7, 2014 (GLOBE NEWSWIRE) -- IPC The Hospitalist Company, Inc. (Nasdaq:IPCM), a leading national hospitalist physician group practice company, announced today that it has acquired CAP Medical Group, PLLC, a post-acute hospitalist practice headquartered in New Hartford, New York. The acquisition represents an expansion for IPC in upstate New York, where the company already has an established presence. The CAP transaction is IPC's third acquisition in the state of New York in the past 18 months.
R. Jeffrey Taylor, President and Chief Operating Officer of IPC, commented, "CAP's physicians, physician assistants and nurse practitioners have a very solid track record of caring for patients in post-acute facilities in the Rome-Utica-Syracuse area. IPC seeks to equip our new providers with additional clinical, financial and administrative resources so they can focus on improvements in quality of care and patient outcomes in this new era of healthcare reform. We welcome CAP to the IPC family, as we continue to build our post-acute presence in the Northeast through both acquisition and organic growth."
Jeffrey Amidon, D.O., CAP's owner, added, "The CAP clinicians and I are excited to join IPC, which has clearly built a leadership position in post-acute care in New York. Now our group can focus on what we do best -- delivering high quality care to our patients -- while reaping all the benefits of practicing under the IPC umbrella. I am confident that our group is now poised for long-term growth, which will benefit our patients, our providers, and the facilities that we serve."
CAP's patient encounters are estimated at approximately 35,000 on an annualized basis.
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 over 400 hospitals and 1,100 post-acute care facilities. The Company offers its 1,800 employed clinicians comprehensive training, information technology, and management support systems 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.