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IPC The Hospitalist Company Acquires New York Practice

NORTH HOLLYWOOD, Calif., Oct. 1, 2012 (GLOBE NEWSWIRE) -- IPC The Hospitalist Company, Inc. (Nasdaq:IPCM), a leading national hospitalist physician group practice company, announced today that it has acquired Elder Medical Services, P.C., with operations in the Buffalo and Syracuse, New York areas. This acquisition marks IPC's entry into its 28th state, New York. 

The Elder practice is comprised of physicians and nurse practitioners dedicated to the management and delivery of care in local nursing homes and assisted living facilities. Elder's providers serve as the primary caregivers for residents of these facilities as well as for patients discharged to these facilities after an acute care hospital stay. Elder's providers work in close coordination with facility staff and other community physicians in order to provide ongoing necessary care, as well as to facilitate smooth and well-orchestrated transitions from hospital to home.

Commenting on the acquisition, Adam Singer, M.D., Chairman and CEO of IPC, noted, "In this era of healthcare reform, the role of the post-acute hospitalist has become increasingly important.  IPC has now established post-acute hospitalist services in most of our markets. Through the integration of acute and post-acute services IPC is improving the continuum of care, which in turn can help reduce hospitalizations and readmission rates, lowering costs throughout the system while improving patient outcomes."

Stephen Evans, M.D., founder and co-owner of Elder, will continue with the group as an IPC Practice Group Leader.  Dr. Evans stated, "IPC has established a track record of leadership and innovation in facility-based patient care, both in acute and post-acute settings. Our post-acute hospitalists look forward to accessing IPC's management capabilities, recruiting resources, and performance monitoring systems in order to better serve our facilities in the Buffalo and Syracuse communities."

The Elder acquisition is expected to generate approximately 70,000 post-acute patient encounters per year.

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