Team Health Holdings Inc. said Tuesday it is buying IPC Healthcare Inc. in an all-cash deal with an enterprise value of approximately $1.6 billion or $80.25 per share. The transaction represents a premium of 37.3% over IPC’s closing price on Monday. TeamHealth, which is based in Knoxville, Tenn., is a provider of outsourced physician staffing solutions for hospitals. North Hollywood, Calif.-based IPC Healthcare is a national acute hospitalist and post-acute provider organization. Both companies have been consolidators in their sectors, acquiring practices and companies to expand the geographical and specialty areas they serve. The purchase of IPC is expected to be completed in the fourth quarter. In the announcement, TeamHealth president and CEO Mike Snow said: '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.' TeamHealth said it expects to realize at least $60 million of combined cost and identified revenue synergies to be achieved within three years.