PHYCOR ANNOUNCES ACQUISITION OF VIRGINIA PHYSICIAN GROUP.
The Company entered into a long-term service agreement, effective January 1, 1995, with the 32-physician board-certified, family practice group associated with this clinic. Other terms of the transaction were not disclosed.
Joseph C. Hutts, president and chief executive officer of PhyCor, said, "We are excited to have this group affiliate with PhyCor. Founded in 1993, this prestigious group operates 11 service sites and is well suited to participate in health care reform. With this extremely strong family practice base, we expect to develop a very large multi-specialty physician organization in this market."
PhyCor recently announced that it had reached a definitive agreement to acquire North American Medical Management, Inc., which operates Independent Practice Associations.
PhyCor, Inc., founded in 1988 and headquartered in Nashville, Tennessee, operates 23 multi-specialty medical clinics involving 1,200 physicians in 15 states.
CONTACT: PhyCor, Inc., Nashville
Joseph C. Hutts or John K. Crawford, 615/665-9066
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|Date:||Feb 1, 1995|
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