New York, October 19 (FinanceEnquiry.com) – Analysts at Deutsche Bank Securities reiterate their HOLD rating on the shares of IPC The Hospitalist Co Inc (NASDAQ: IPCM). The 12-month target price is set to $38.
In a research note published on October 18, the analysts mention that the acquisition of Elder Medical Services, PC, a New York based practice with existence in Syracuse and Buffalo, has lately been proclaimed by IPC The Hospitalist Co. In total, activity of acquisition stays solid.
Furthermore, reinforcing the impetus of company’s acquisition for FY12, the proclamation marks entry of IPC The Hospitalist Co into the New York market. In addition to this, Elder Medical Services mainly pays attention to its practice on regional nursing homes and aided facilities of living and apart from this, it produces around 70,000 in annualized patient encounters.
Moreover, in annual revenues, this practice seems generating roughly $5 million to $6 million. Post-acute practice model is continued to be build out by IPC The Hospitalist Co and due to the penetration of its advanced sharp care facility in certain mature markets, this seems as an essential component of the company’s future expansion, the analysts add further.
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