Team Health to buy IPC Healthcare for $1.6b

The Pak Banker - - COMPANIES/BOSS -

NEW YORK: Team Health Hold­ings Inc. agreed to ac­quire IPC Healthcare Inc. for about $1.6 bil­lion in­clud­ing debt to ex­pand in the busi­ness of pro­vid­ing doc­tor staffing to hos­pi­tals and other med­i­cal fa­cil­i­ties.

The all-cash trans­ac­tion is val­ued at $80.25 a share, the com­pa­nies said Tues­day in a state­ment. That would rep­re­sent a 37 per­cent pre­mium to IPC's clos­ing share price Mon­day. IPC spe­cial­izes in pro­vid­ing med­i­cal staff for pa­tients who are hos­pi­tal­ized or need ad­di­tional fol­low-up care. That will help TeamHealth pro­vide a more di­verse set of ser­vices as the U.S. gov­ern­ment re­im­burses health-care providers based on the out­comes of treat­ment rather than in­di­vid­ual pro­ce­dures. Shares of IPC rose to $79.25 in early trad­ing, while TeamHealth climbed 4.2 per­cent to $70.40.

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