NORTH HOLLYWOOD, Calif., March 31, 2014 (GLOBE NEWSWIRE) -- IPC The Hospitalist Company, Inc. (Nasdaq:IPCM), a leading national hospitalist physician group practice company, announced today that it has acquired Preferred Hospitalists of Michigan, PLLC (PHM), based in Warren, Michigan. The acquisition of this acute care hospitalist practice represents a further expansion for IPC in southeast Michigan, where the Company already has an established presence.
R. Jeffrey Taylor, President and COO of IPC, commented, "The addition of PHM directly enhances our presence in southeast Michigan. We currently practice side by side with PHM in several hospitals, so we are well aware of and respectful of these high quality clinicians. We look forward to this new collaboration, which will create even better alignment with our facilities, while improving patient outcomes."
PHM was founded as an independent practice group in 2011 for the purpose of providing high quality patient care to hospitals in Macomb, St. Clair and Oakland counties. Zarnab Sajjad, M.D., one of the founders, will continue with the group as Practice Group Leader. Commenting on the transaction, Dr. Sajjad said, "We are pleased to be joining forces with IPC. This transaction will enable us to coordinate patient care together in a truly collaborative environment. This will prove to be an important benefit to our relationships with facilities, payers and community physicians."
The PHM transaction is expected to generate approximately 18,000 acute patient visits 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 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.