NORTH HOLLYWOOD, Calif., June 24, 2015 (GLOBE NEWSWIRE) -- IPC Healthcare, Inc. (Nasdaq:IPCM), a leading national acute hospitalist and post-acute provider organization, announced today that it has acquired Geriatric Associates of America (GAA), one of the largest private practice post-acute groups in Texas. Headquartered in Houston, the group also has operations in Dallas and San Antonio.
"GAA is a well-respected and longtime provider of post-acute care in Texas. IPC and GAA have worked side by side in Texas for many years, and we are very happy to now be part of the same team," said R. Jeffrey Taylor, president and COO of IPC Healthcare. "This acquisition also significantly boosts IPC's post-acute presence in three of our Texas markets, where we already have significant acute care activity. As such, we believe that this acquisition will help strengthen our capabilities for the BPCI (Bundled Payment Care Improvement) initiative that we are commencing in July."
Keith Rapp, M.D., founder of GAA, will join IPC in a clinical and regional advisory role.
Commenting on the acquisition, Dr. Rapp said, "In this changing healthcare environment, it is increasingly difficult for independent groups to meet all the new demands of value-based care while continuing to provide strong support to its clinicians. IPC has the infrastructure and understanding of the changes in the healthcare industry to meet the new challenges while allowing clinicians to focus on what we are best suited to do, which is to serve the best interests of our patients."
The patient encounters for the practice are estimated at approximately 55,000 on a combined annualized basis.
About IPC Healthcare, Inc.
IPC Healthcare, Inc. (Nasdaq:IPCM) is a leading national acute hospitalist and post-acute provider group practice company. IPC Healthcare's affiliated physicians and other clinical providers practice in over 400 hospitals and 1,700 post-acute care facilities. The Company offers it's more than 1,900 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 Healthcare website at www.ipchealthcare.com.