(Bloomberg) -- 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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