NORTH HOLLYWOOD, Calif., Nov. 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 Hospital Medical Associates of Monmouth County (HMAMC). Headquartered in Red Bank, New Jersey, the acquisition of this acute care hospitalist practice represents a further expansion for IPC in the New Jersey market, where the company already has an established presence.
R. Jeffrey Taylor, President and COO of IPC, commented, "IPC continues to find excellent acquisition opportunities in the Northeast. The addition of HMAMC builds on our existing acute care operations in New Jersey and adds another well-established group of quality hospitalists to our team. HMAMC has effectively partnered with local hospitals to provide high-quality patient care. IPC looks forward to continuing those partnerships while enhancing the group's capability to manage performance metrics that are of vital importance to hospitals in today's challenging environment."
Drs. Brian Incremona and Nauman Ahmad, the owners of HMAMC, will continue with the group as IPC Practice Group Leaders. Dr. Incremona commented, "The new regulatory requirements, performance imperatives, and uncertainties under healthcare reform make it much more challenging for a local practice such as HMAMC to go it alone. As such, we decided that joining forces with IPC was the best way to enable our group to continue to deliver value to our hospitals. We look forward to taking advantage of the financial, management and other support resources that IPC offers its practices."
The HMAMC acquisition is expected to generate approximately 30,000 acute patient encounters per year.
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 exclusively in hospitals or other inpatient facilities, including acute, post-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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