IPC Healthcare Inc. announced Friday that it has acquired selected assets of Hospitalists Now Inc., a doctors group in Jacksonville, Fla.
The North Hollywood company, which provides doctors to hospitals and nursing homes, will take over HNI’s providers in Jacksonville, but HNI will continue to operate its hospitalist programs outside of the Jacksonville market. Also, the doctors who join IPC will continue to use HM Vital Signs, a software program for managing doctors in hospitals, which is owned by HNI.
“This acquisition combines the strengths of both organizations in order to provide greater depth of coverage, superior focus on performance metrics, and an overall stronger service to the greater Jacksonville community,” said IPC President Jeffrey Taylor, in a statement.
The acquisition will give IPC about 61,000 patient visits a year.
Shares closed down 9 cents, or 1.2 percent, to $7.45 in over-the-counter trading.
Signature Group Holdings Inc. on Friday priced and set the terms of its subscription rights sale to raise $55 million for an acquisition.
The offering by the Sherman Oaks investment firm will give existing shareholders the right to purchase additional shares at a discount. The offering allows for the sale of up to 9.5 million shares before Feb. 17.
Each shareholder will be entitled to purchase 0.562 share of common stock at an exercise price of $5.64 a share.
Proceeds from the offering will help finance the $525 million acquisition of Global Recycling and Specification Alloys, an aluminum recycling business unit of Aleris Corp. in Cleveland.
Signature already held a secondary stock offering for $28.5 million and issued senior notes for $305 million to fund the acquisition. It also sold its only functioning subsidiary, North American Breaker Co. LLC in Burbank, for $78 million, with the proceeds going toward the purchase.
Shares closed down 63 cents, or 8 percent, to $7.18 in over-the-counter trading.
Capstone Turbine Corp. received an order for 15 of its natural gas-powered microturbines for use at shale oil and gas production sites.
The order to the Chatsworth manufacturer came from Horizon Power Systems, in Farmington, N.M., its exclusive distributor in the Southwest, Rocky Mountain States and western Canada. The value of the order was not disclosed.
The microturbines will be used at the oil and gas production sites to power central processing stations, metering stations and well-head operations.
“Capstone microturbines continue to become a preferred power generation option for oil and gas producers that want a stable and reliable solution to optimize their on-site performance and reduce operational costs,” said Horizon Power President Sam Henry.
Shares closed down 3 cents, or 4 percent, to 62 cents on the Nasdaq.