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IPC The Hospitalist Company, Inc. Announces Closing of IPO and Exercise of Underwriters' Over-Allotment Option

NORTH HOLLYWOOD, Calif., Feb. 5 /PRNewswire-FirstCall/ -- IPC The Hospitalist Company, Inc. (Nasdaq: IPCM), a leading provider of hospitalist services, today announced that it closed its previously announced initial public offering of 5,200,000 shares on January 30, 2008 and that the underwriters of the offering have exercised their over-allotment option and purchased 705,000 additional shares of common stock from the selling stockholders at the public offering price of $16.00 per share. Including the over-allotment, the Company and selling stockholders sold 5,905,000 shares in the offering for net proceeds of $84.5 million after deducting the underwriting discounts and commission and the estimated offering expenses. Excluding shares offered by selling stockholders, net proceeds to the company amounted to approximately $45.8 million after deducting the underwriting discounts and commission and the estimated offering expenses.

Credit Suisse Securities (USA) LLC and Jefferies & Company, Inc. acted as joint bookrunners for the offering. Wachovia Capital Markets, LLC and William Blair & Company, L.L.C. acted as co-managers for the offering.

This offering is made only by means of a prospectus, copies of which may be obtained from the Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010, (800) 221-1037, or Jefferies & Company Prospectus Department, 520 Madison Avenue, New York, NY 10022, (888) 449-2342.

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About IPC The Hospitalist Company, Inc.

Founded in 1995, IPC The Hospitalist Company, Inc. is a leading provider of hospitalist services in the United States. IPC's physicians manage and coordinate the care of hospitalized patients and serve as the inpatient partner of primary care physicians and specialists. IPC assists hospitals and payors in improving quality of inpatient care, increasing operating efficiencies and reducing costs. The Company provides its hospitalists with the management systems, information technology, training and administrative support necessary to perform these services.


Devra Shapiro

IPC The Hospitalist Company, Inc.

(818) 766-3502

Stephanie Carrington/Elizabeth Scott

The Ruth Group

(646) 536-7017/7014

SOURCE IPC The Hospitalist Company, Inc.
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