NORTH HOLLYWOOD, Calif., Jan. 23 /PRNewswire-FirstCall/ -- IPC The Hospitalist Company, Inc. (Nasdaq: IPCM), a leading national hospitalist physician group practice company, today announced that it has received the "Best IPO" award from the Los Angeles Venture Association (LAVA).
LAVA Executive Director Leonard Lanzi said, "We are pleased to celebrate the success of venture-backed companies, such as IPC. In this environment, anyone who pulls off an IPO with a $237 million valuation should be commended for their efforts. From LAVA's perspective, who was involved and how it happened makes this a story we want to highlight."
LAVA, which recognizes some of Southern California's best growth companies each year, presented awards in various categories to seven companies including IPC. Awards were given at LAVA's 6th Annual Venture Awards Dinner, held in Beverly Hills on January 22, 2009.
IPC Chairman and CEO Adam Singer, M.D., said, "I'm delighted that LAVA chose to acknowledge IPC for its initial public offering last January. Having completed the IPO, as well as a follow-on offering in July 2008, we now have the capital necessary to execute on our growth strategy. We will continue to focus on growing our business by delivering high-quality inpatient care efficiently and cost-effectively."
IPC The Hospitalist Company is the nation's largest private practice hospitalist company, providing hospital medicine services to more than 350 facilities in 18 states. Since the initial public offering, IPC has demonstrated the success of its private practice model -- backed by a scalable business infrastructure with proprietary technology and practice management systems -- through both organic growth and numerous acquisitions of hospitalist practices across the country.
IPC completed its initial public offering in January 2008, raising $83 million. The Company completed a $65 million follow-on offering in July 2008.
About the Los Angeles Venture Association:
Founded in 1985, the Los Angeles Venture Association (LAVA) is the most successful and longest running organization of its kind in Southern California dedicated to the development and growth of entrepreneurial ventures from start-up to middle market.
Through its educational programs and annual conferences, LAVA provides a forum where entrepreneurs meet and learn from fellow executives, investors, bankers, financial advisors and other professional advisors. For more information, visit www.lava.org.
About IPC The Hospitalist Company, Inc.
IPC The Hospitalist Company, Inc. (Nasdaq: IPCM) is a leading national hospitalist physician group practice company focused on the delivery of hospitalist medicine services. IPC's physicians and affiliated providers manage the care of hospitalized patients in coordination with primary care physicians and specialists. The Company provides its hospitalists with the comprehensive training, information technology, and management support systems necessary to improve the quality and reduce the cost of inpatient care in the facilities it serves. For more information, visit the IPC website at www.hospitalist.com.
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|SOURCE IPC The Hospitalist Company, Inc.|
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