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

Quick Facts

Editors Pick
The Eurozone manufacturing moved closer to stagnation in September as German factory sector contracted for the first time in 15 months, final data from Markit Economics showed Wednesday. The manufacturing Purchasing Managers' Index fell more than intially estimated to a 14-month low of 50.3 from August's reading 50.7. The reading was below the earlier flash estimate of 50.5. Indonesia's inflation accelerated in September on food and utility costs, data from the Central Statistics Agency showed Wednesday. The trade balance swung into deficit in August as import growth exceeded the increase in exports. Inflation rose to 4.53 percent in September from 3.99 percent in... The U.K. economy grew more than estimated in the second quarter and the current account deficit widened from the first quarter, the Office for National Statistics said Tuesday. Gross domestic product grew 0.9 percent sequentially, up from the prior estimate of 0.8 percent. The annual growth was confirmed at 3.2 percent.
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.