IPC The Hospitalist Co. Inc. is acquiring Total Inpatient Services in Sugar Land, Texas. The North Hollywood company, which manages doctors who specialize in caring for inpatients during admission and following discharge, already has a presence in nearby Houston. Total Inpatient Services will add about 30,000 patient visits a year. “TIPS has pursued a strategy of practicing in both acute care and post-acute facilities, which melds perfectly with IPC’s philosophy of providing inpatient care across the spectrum of facility types,” said IPC President R. Jeffrey Taylor, in a statement. “Our new relationship with TIPS directly enhances our reputation for the high quality of care that we are committed to in the Houston market.” Shares closed up 47 cents, or more than 1 percent, to $41.92 on the Nasdaq. BNK Petroleum Inc. reported on Friday higher net income, citing an oil drilling project in Oklahoma. The Camarillo oil-and-gas exploration company reported net income of $250,000 (0 cents a share) for the quarter ended March 31, compared with a net loss of $5.3 million (-4 cents) in the same period a year earlier. Revenue increased 29 percent to $5.5 million. BNK Chief Executive Wolf Regener said contributing to the positive financial results was a drilling project in the Tishomingo field. “Due to higher oil content in the production mix of the Caney formation, we increased our (gross profit per barrel) more than 200 percent compared to the 2013 first quarter, which helped us to achieve profitability,” Regener said in a prepared statement. Shares closed down 12 cents, or about 6 percent, to $1.83 in over-the-counter trading. Signature Group Holdings Inc. swung from a loss to a profit in the first quarter as the investment company cut costs. The Sherman Oaks company reported net income of $113,000 (1 cent a share) for the quarter ended March 31, compared to a net loss of $2.8 million (-23 cents) for the same period a year earlier. Revenue fell 13.7 percent to $8.2 million. “With our corporate cost structure now aligned with our current operating size, we are focused on the future,” said Chief Executive Craig Bouchard, in a statement. “We are exploring opportunities for growth primarily in the transportation, industrial, food, water, energy and security sectors. Opportunities are plentiful and we are finding valuations to be reasonable.” Signature announced the results after markets closed on Thursday. Shares closed up 8 cents, or a fraction of a percent, to $11.05 in over-the-counter trading on Friday. American Homes 4 Rent has declared quarterly dividends for its different classes of outstanding shares. The Agoura Hills real estate investment trust declared a 5 cent dividend on its common stock, 31 cent dividend on its 5 percent Series A and Series B Participating Preferred Shares and a 22 cent dividend on its 5.5 percent Series C shares, which were just priced late last month. The single-family home landlord will pay the dividends on June 30 to shareholders of record on June 15. Shares closed up a penny to $17.03 on the New York Stock Exchange.
