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IPC Healthcare of North Hollywood to be acquired for $1.6 billion

IPC Healthcare of North Hollywood to be acquired for $1.6 billion

IPC Healthcare Inc., a North Hollywood company that provides doctors to hospitals and other medical facilities across the United States, agreed Tuesday to be acquired by a Tennessee company for about $1.6 billion. Team Health Holdings Inc. of Knoxville will pay $80.25 a share for IPC in an all-cash deal it said would create “the nation's leading physician services organization.” Team Health's offer was a 37% premium above IPC's closing price of $58.46 on Monday. IPC's stock jumped on the news, gaining $20.79, or 36%, to close Tuesday at $79.25. The transaction, already approved by the boards of both companies, is expected to close during the final three...

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