(Bloomberg) -- Team Health Holdings Inc. agreed to acquire IPCHealthcare Inc. for about $1.6 billion including debt to expand inthe business of providing doctor staffing to hospitals and othermedical facilities.

The all-cash transaction is valued at $80.25 a share, thecompanies said Tuesday in a statement. That would represent a 37percent premium to IPC’s closing share price Monday.

IPC specializes in providing medical staff for patients who arehospitalized or need additional follow-up care.

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