NORTH HOLLYWOOD, Calif., March 7, 2012 (GLOBE NEWSWIRE) -- IPC The Hospitalist Company, Inc. (Nasdaq:IPCM), a leading national hospitalist physician group practice company, announced today that it has acquired the facility-based practice of Asana Integrated Medical Group, a Professional Medical Corporation (AIMG), in both Southern California and Phoenix, Arizona. Headquartered in Agoura Hills, California, AIMG provides a range of acute and post-acute behavioral health clinical services via a provider team of psychiatrists, psychologists, and nurse practitioners. This acquisition represents IPC's continued expansion both in Southern California and in Phoenix, Arizona, where the Company already has an established presence. IPC expects to add approximately 65,000 patient encounters annually from this acquisition.
Adam Singer, MD, Chairman and CEO of IPC, commented, "The coordination and integration of behavioral health services is an increasingly important component of managing the care continuum in both the acute and post-acute care settings. With Asana, IPC is building upon the experience we have gained in other markets by providing additional focus on this key subspecialty area. This acquisition also provides IPC the opportunity to explore ways of improving patient outcomes and reducing costs through the improved coordination of behavioral health with our other facility-based services."
Nitin Nanda MD, president and CEO of AIMG, is both a practicing geriatric psychiatrist and Assistant Clinical Professor at the UCLA David Geffen School of Medicine and Clinical Assistant Professor in Medicine at the USC Keck School of Medicine. Dr. Nanda will join IPC as a practice group leader and Regional Medical Director. Dr. Nanda commented, "AIMG's clinical team currently practices in more than 50 hospitals and skilled nursing facilities. We see a significant need in our services for patients and an opportunity to expand these services to additional facilities with the support of IPC's capital and infrastructure. We also see the potential to further improve care in these facilities by adding IPC's existing hospitalist and care transition management services over time."
About IPC The Hospitalist Company, Inc.
IPC The Hospitalist Company, Inc. (Nasdaq:IPCM) is a leading physician group practice company focused on the delivery of hospitalist medicine and related facility-based services. IPC's physicians and affiliated providers practice in hospitals or other inpatient facilities, including acute, sub-acute and long-term care settings. The Company offers its providers the comprehensive training, information technology, and management support systems necessary to improve the quality and reduce the cost of patient care in the facilities it serves. For more information, visit the IPC website at www.hospitalist.com.
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