IPC Shareholders Approve Acquisition

Shareholders of IPC Healthcare Inc. formally approved its pending $1.6 billion acquisition by Team Health Holdings Inc., the company announced Tuesday. IPC, a North Hollywood company that provides doctors for hospitals and nursing homes, will be purchased by Team Health in Knoxville, Tenn. for $80.25 a share in cash. The companies expect the transaction will be completed on or around Nov. 23. “Shareholder approval of the acquisition by Team Health is a reflection of the substantial value created for our investors over the past several years,” Dr. Adam Singer, chief executive of IPC, said in a statement. “We appreciate the confidence IPC shareholders have placed in our company, and we’re pleased that confidence is being rewarded.” Shares closed up 5 cents or a fraction of a percent to $80.17 on the Nasdaq.