IPC The Hospitalist Co., a manager of mostly hospital-based physician practices, has acquired Elder Medical Services in Upstate New York.
IPC of North Hollywood has acquired nine practices in New England and the Pacific Northwest over the last year. The Elder acquisition marks the company’s first entry into New York State.
The Elder practice is composed of doctors and nurse practitioners who work at nursing homes and assisted-living facilities in Syracuse and Buffalo taking care of patients after they have been discharged from hospitals. The practice will add about 70,000 post-acute patient encounters per year.
Dr. Stephen Evans, founder and co-owner of Elder, will continue with IPC as leader of the practice.
Financial details were not disclosed.
Shares of IPC rose $1.37, or 3 percent, to close at $47.07 on the Nasdaq.
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