Here is the blurb:
Team Health Holdings, a leading provider of outsourced physician staffing solutions for hospitals in the United States, today announced a definitive agreement to acquire IPC Healthcare Inc. (“IPC Healthcare”) (Nasdaq: IPCM), a leading national acute hospitalist and post-acute provider organization, in an all-cash transaction with an enterprise value of approximately $1.6 billion or $80.25 per share. The boards of directors of both companies have approved the transaction.
It continues here:
“We are excited to announce this strategic transaction with IPC Healthcare to create the leading physician services organization spanning multiple specialties,” said TeamHealth President and Chief Executive Officer, Mike Snow . “Through this combination, TeamHealth will be better positioned to capitalize on key trends as the U.S. healthcare industry moves toward value based reimbursement with an increased focus on post-acute care and services. Together with IPC Healthcare, we will create an industry leader in the hospital based and post-acute settings with an expanded network of services and solutions that will better support TeamHealth’s affiliated clinicians and hospital partners and drive long-term shareholder value.”
About IPC Healthcare, Inc.
IPC Healthcare, Inc. (Nasdaq: IPCM) is a leading national acute hospitalist and post-acute provider group practice company. IPC Healthcare’s affiliated physicians and other clinical providers practice in over 400 hospitals and 1,700 post-acute care facilities. The Company offers it’s more than 1,900 employed clinicians comprehensive training, information technology, and management support systems to improve the quality and reduce the cost of patient care in the facilities it serves. For more information, visit the IPC Healthcare website at www.ipchealthcare.com.