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Monday, Jun 27, 2022

Briefs: IPC, Talon

IPC The Hospitalist Co. Inc. announced on Friday the acquisition of a post-acute doctor’s practice in western Michigan. The North Hollywood company, which provides doctors to hospitals and nursing homes, purchased the Grand Rapids-based practice of Dr. John N. Campbell. He will continue with the company with the title of practice group leader. IPC estimates the practice will generate about 20,000 patient visits annually. So far this year, the company has purchased at least 20 doctor groups in multiple states. Shares of IPC closed up $1.01, or 2.6 percent, to $39.98 on the Nasdaq. Talon International Inc. reported on Friday a decline in revenue and sharp fall in profit in the third quarter. The Woodland Hills supplier of zippers and apparel accessories reported net income of $57,100 (0 cents a share) in the quarter ended Sept. 30, down from $700,000 (9 cents) in the same quarter a year earlier. Revenue fell 14 percent to $11.7 million. An analyst estimated no net income on revenue of $13 million, according to Thomson Financial. The company said zipper sales fell nearly 24 percent to $6 million. It attributed the decline to a weak apparel market. “The decline in our mass merchandising zipper sales is highly disappointing and occurred more abruptly than we have experienced in the recent past,” said Chief Executive Lonnie Schnell, in a statement. Shares closed up a penny to 21 cents in over-the-counter trading.

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