US-based TeamHealth Holdings has completed the acquisition of national acute hospitalist and post-acute provider IPC Healthcare for $1.6bn.
The deal combines two physician-centric organisations to create a national physician services organisation spanning multiple specialties in both hospitals and post-acute facilities.
The combined company will have 16,000 healthcare professionals to effectively manage patients across the continuum of care and it enables TeamHealth to reduce costs, increase quality and provide better patient services.
Jointly, the two parties will be able to serve 2,000 post-acute facilities across 28 states.
TeamHealth president Michael Snow said: "The completion of the IPC Healthcare acquisition is a significant milestone for both TeamHealth and IPC Healthcare, and we are excited to move forward together as one organisation positioned for continued success and value creation.
"As an industry leader in the hospital-based and post-acute settings, we now have an expanded network of services and solutions to support our affiliated clinicians, hospital partners and physician groups and influence high-quality and lower cost outcomes across the continuum of patient care.
"I am pleased to welcome our IPC Healthcare colleagues to the TeamHealth community and look forward to a seamless integration for the benefit of all TeamHealth stakeholders."
IPC Healthcare’s affiliated physicians and other clinical providers offer services in 400 hospitals and 1,700 post-acute care facilities.
The company provides comprehensive training to its affiliated clinicians, as well as information technology and management support systems to the facilities it serves to enhance the quality and reduce the cost of patient care.