IPC Healthcare, Inc. Stockholders Approve Acquisition by Team Health Holdings, Inc.
November 17 2015 - 8:45AM
IPC Healthcare, Inc. ("IPC") (NASDAQ:IPCM) today announced that
stockholders of IPC formally approved the pending $1.6 billion
acquisition of IPC by Team Health Holdings, Inc. Upon completion of
the transaction, each share of IPC common stock will convert into
the right to receive $80.25 in cash.
"Shareholder approval of the acquisition by Team Health is a
reflection of the substantial value created for our investors over
the past several years, culminating in this transaction," said Adam
Singer, M.D., chairman and chief executive officer of IPC. "We
appreciate the confidence IPC shareholders have placed in our
company, and we're pleased that confidence is being rewarded."
The transaction remains subject to customary closing conditions,
and the companies expect the acquisition will be completed on or
around November 23rd in accordance with terms of the Merger
Agreement.
About IPC Healthcare
IPC is a leading national acute hospitalist and post-acute
provider group practice company. IPC's affiliated physicians and
other clinical providers practice in over 375 hospitals and 2,025
post-acute care facilities. The Company offers its more than 2,125
employed clinicians comprehensive training, information technology,
and management support systems to improve the quality and reduce
the cost of patient care in the facilities it serves. For more
information, visit the IPC website at
http://www.ipchealthcare.com.
Cautionary Statement Regarding Forward-Looking
Statements
Certain statements in this communication may constitute
"forward-looking statements" as that term is defined in the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements generally can be identified by the words "will,"
"expects," "believes" and words or phrases of similar import.
Actual results could differ materially from those projected or
forecast in the forward-looking statements. The factors that could
cause actual results to differ materially include, without
limitation, risks or uncertainties associated with: the
satisfaction of the conditions precedent to the consummation of the
proposed transaction with Team Health Holdings, Inc., including,
without limitation, the receipt of regulatory approvals;
unanticipated difficulties or expenditures relating to the proposed
transaction; legal proceedings instituted against IPC and others
following announcement of the proposed transaction; disruptions of
current plans and operations caused by the announcement and
pendency of the proposed transaction; potential difficulties in
employee retention as a result of the announcement and pendency of
the proposed transaction; the response of customers, distributors,
suppliers and competitors to the announcement of the proposed
transaction; and other factors described in IPC's annual report on
Form 10-K for the year ended December 31, 2014 and quarterly
report on Form 10-Q for the quarterly period ended September 30,
2015 filed with the U.S. Securities and Exchange Commission (the
"SEC"). IPC assumes no obligation to update the information in this
communication, except as required by law. Readers are cautioned not
to place undue reliance on these forward-looking statements that
speak only as of the date hereof.
CONTACT: Rick Kline
IPC Healthcare, Inc.
(818) 766-3502
Evan Pondel
PondelWilkinson, Inc.
(310) 279-5980
epondel@pondel.com
IPC Healthcare, Inc. (NASDAQ:IPCM)
Historical Stock Chart
From Apr 2024 to May 2024
IPC Healthcare, Inc. (NASDAQ:IPCM)
Historical Stock Chart
From May 2023 to May 2024