IPC The Hospitalist Co. signs agreements with East Coast Post-Acute Care

IPC The Hospitalist Company announced that it has signed definitive agreements to acquire the assets of four affiliated entities: Park Avenue Health Care Management; Park Avenue Medical Associates, PC; Park Avenue Medical Associates; and Geriatric Services, PC. With Park Avenue's headquarters in White Plains, New York, the transaction once completed will represent a new market for IPC in the New York metropolitan area, as well as an expansion of IPC's existing operations in Connecticut and Massachusetts. Subject to completion of due diligence and other customary closing conditions, the transaction is scheduled to close in December of this year. IPC's combined incremental volume from this transaction is estimated at approximately 375,000 patient encounters on an annualized basis.