(By Balachander) IPC The Hospitalist Company Inc. (NASDAQ: IPCM) said it has bought Christiana Medical Group P.A. (CMG), an acute care hospitalist practice, to strengthen its presence in the Delaware market.
The North Hollywood, California-based company said CMG acquisition marks its second transaction in the mid-Atlantic region this month.
IPC, a physician group practice company, expects the acquisition of Christiana Medical to generate roughly 50,000 acute patient encounters per year.
The company manages over 180 practice groups, providing care in over 900 medical facilities in 28 states. IPC works with around 39,000 referring primary care physicians and specialists and more than 1,000 health plans, to manage more than $1 billion in healthcare expenditures annually.
Last week, IPC acquired Red Bank, New Jersey-based Hospital Medical Associates of Monmouth County (HMAMC). The HMAMC acquisition is expected to generate about 30,000 acute patient encounters per year.
On Wednesday, the stock declined 0.46 percent to trade at $34.60.