IPC Purchases St. Louis Critical Care GroupThursday, December 20, 2012
IPC The Hospitalist Co. Inc. has purchased a critical care doctors group in St. Louis, the latest in a string of acquisitions this year.
The North Hollywood company announced Thursday it had acquired Midwest Acute Care Consultants, or MACC, a group of doctors who work in the intensive care units at five hospitals near St. Louis. IPC estimates the acquisition will generate about 37,000 patient visits per year.
Financial details of the transaction were not disclosed.
Dr. Adam Singer, IPC’s chief executive, said that though there are differences between managing hospital doctors who oversee regular inpatient care – IPC’s specialty – the company plans to apply many of the same techniques to managing the critical care group.
“Coordination of care between IPC hospitalists and MACC intensivists holds great potential to make improvements in patient outcomes while reducing the cost of care,” he said, in a statement.
IPC has built its business model on acquisitions.
In November, it acquired GLT Medical Services Ltd. in Toledo, Ohio. In October, it acquired Elder Medical Services in Buffalo, N.Y. And in September it bought two practices in Massachusetts and one in New Hampshire. It also bought practices in Florida and New Mexico in July.
Shares lost 16 cents, or less than 1 percent, to close on Thursday at $39.62 on the Nasdaq.