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IPC Healthcare Acquired for $1.6 Billion
Per the terms of the deal, TeamHealth will pay $80.25 per share for IPC Healthcare in an all-cash deal, representing a 37% premium compared to where the company’s share closed Monday. North Hollywood, Calif.-based IPC Healthcare is a national acute hospitalist and post-acute provider organization.
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Now what: This deal will greatly diversify TeamHealth’s services, as well as its physician network.
The acquisition will help Knoxville, Tennessee-based TeamHealth “capitalize on key trends” as the healthcare industry moves toward value-based reimbursements and a focus on post-acute care, wrote TeamHealth President and CEO Mike Snow.
TeamHealth Holdings Inc (TMH.N) arranged to buy IPC Healthcare Inc (IPCM.O) for one dollar.four bill to acquire spotlight to the Medicare bundling system and have on more nurses for quantity to retirement communities inside the United States.
The combined company will have 15,000 health care professionals nationwide, strengthening TeamHealth’s reach across multiple specialties. Under the agreement, TeamHealth took over ERs at Alton Memorial; Barnes-Jewish St. Peters; Boone Hospital Center in Columbia; Christian Hospital; Northwest HealthCare in Florissant; Missouri Baptist Sullivan; Progress West in O’Fallon, Mo.; and Parkland Health Center in Farmington and Bonne Terre.
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Citi served as financial adviser to TeamHealth, while Credit Suisse was financial adviser to IPC.