NORTH HOLLYWOOD, Calif., Jan. 25 /PRNewswire-FirstCall/ -- IPC The Hospitalist Company, Inc. (Nasdaq: IPCM), a leading provider of hospitalist services, announced yesterday the initial public offering of 5,200,000 shares of its common stock at a price to the public of $16.00 per share. The Company has agreed to sell 3,300,000 shares of common stock and the selling stockholders have agreed to sell the remaining 1,900,000 shares of common stock. The selling stockholders have also granted to the underwriters an option for 30 days following the closing to purchase up to an additional 705,000 shares to cover over-allotments, if any.
IPC's common stock will trade on the Nasdaq Global Market under the symbol "IPCM." The offering is expected to close on January 30, 2008, subject to customary closing conditions.
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.
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. IPC employs
over 550 hospitalists delivering care at over 300 medical facilities in 18
Devra Shapiro Stephanie Carrington/Elizabeth Scott
IPC The Hospitalist Company, Inc. The Ruth Group
(818) 766-3502 (646) 536-7017/7014
|SOURCE IPC The Hospitalist Company, Inc.|
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