IPC Buys GLT, Cablevision Hires M&A Advisors: Merger and Acquisitions Roundup
In a Friday press release, IPC The Hospitalist Company (NASDAQ:IPCM), said that it has purchased GLT Medical Services (NYSE:GLT), which is a post-acute hospitalist practice based in the Toledo area. IPC is a top national hospitalist physician group practice company, and this acquisition marks an expansion for the firm in the northwest Ohio market, where it already has an established presence. IPC’s President and Chief Operating Officer R. Jeffrey Taylor said, “GLT has a very solid track record of caring for nursing home patients and assisted living residents in the area, and we see significant opportunities for continued growth in northwestern Ohio and southern Michigan. With GLT’s providers working in concert with IPC’s acute care hospitalists in the region, we will be able to deliver a more comprehensive and better-coordinated care experience for our patients.”
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Cablevision Systems Corporation (NYSE:CVC) has recruited Citigroup (NYSE:C) and JPMorgan Chase & Co. to identify suitors for its Bresnan Broadband Holdings unit, according to inside sources. The seller is the fifth-largest domestic cable provider by subscribers, and it acquired Bresnan from Providence Equity Partners Inc. nearly two years ago for $1.37 billion, through which it obtained operations in Montana, Colorado, and Wyoming. The current process is said to be in the early stages.
Boyd Gaming Corporation (NYSE:BYD) reported in a release on Friday that its proposed purchase of Peninsula Gaming has been okayed by the Kansas Racing and Gaming Commission. The buyer has now obtained all the necessary regulatory approvals to proceed with the acquisition. The transaction should close on November 20th.
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