Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

IPC The Hospitalist Co., Steward Health Care System Ink Definitive Deals

RELATED NEWS
Trade IPCM now with 

IPC The Hospitalist Company, Inc. (IPCM: Quote), a national hospitalist physician practice company, reported signing definitive deals with Steward Health Care System LLC and its wholly-owned medical group Steward Medical Group Inc. or SMG for the provision of acute care hospitalist services. This transaction represents a significant expansion of IPC's existing partnership with Steward, where IPC currently holds one facility contract; also representing a significant expansion for IPC's Massachusetts operation, which has serviced and would continue to service numerous acute and post-acute facilities.

Following the deal closure, IPC would assume responsibility for the operation and management of hospitalist services at nine Steward acute care hospitals. IPC would buy the existing hospitalist operations of SMG.

Separately, Steward and nine of its affiliated hospitals would reach long-term exclusive service agreements with IPC, where IPC would assume responsibility for hospitalist staffing, clinical leadership, and performance management. This partnership would comprise the following Steward hospitals: Carney Hospital, Good Samaritan Medical Center, Merrimack Valley Hospital, Morton Hospital, Nashoba Valley Medical Center, New England Sinai Hospital, Norwood Hospital, Quincy Medical Center, and St. Elizabeth's Medical Center.

The transaction is slated to close in September 2013. IPC's combined incremental hospitalist volume from this expanded partnership is estimated at about 150,000 encounters on an annualized basis.

Register
To receive FREE breaking news email alerts for IPC The Hospitalist Co. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Stocks moved notably higher over the course of the trading day on Friday after initially showing a lack of direction. The gains on the day extended the recent upward trend by the markets, with the tech-heavy Nasdaq reaching its best closing level in almost a month. Looking to capitalize on news of an Ebola diagnosis in New York City, Republican Senate candidate Scott Brown issued a statement Friday criticizing his Democratic opponent Sen. Jeanne Shaheen, D-N.H., for "waffling" on a travel ban. In another troubling sign for Democrats, the results of a Gallup poll released on Friday show that Tea Party Republicans are much more motivated to vote in the upcoming midterm elections than other Americans. The poll found that 73 percent of Tea Party Republicans are "extremely" or "very" motivated to vote in this year's elections.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.