IPC The Hospitalist Co. acquires CAP Medical Group IPC The Hospitalist Company announced that it has acquired CAP Medical Group, a post-acute hospitalist practice headquartered in New Hartford, New York. The acquisition represents an expansion for IPC in upstate New York, where the company already has an established presence. The CAP transaction is IPC's third acquisition in the state of New York in the past 18 months. CAP's patient encounters are estimated at approximately 35,000 on an annualized basis.
IPC Healthcare upgraded to Overweight from Sector Weight at KeyBanc KeyBanc upgraded IPC Healthcare to Overweight with a $56 price target to reflect participation in Medicare's BPCI initiative, growing strategic value of hospitals in managing costs, reduced Street expectations, and valuation. The firm sees a $10M-$30M in EBITDA annually by participating in Medicare's BPI initiative.