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Hospitalist company goes public

Hospitalist Leadership Connection, September 11, 2007

IPC The Hospitalist Co., a patient-care company based in North Hollywood, CA, recently filed for an initial public offering of its common stock.
IPC's 470 affiliated hospitalists provide services at more than 300 hospitals and other inpatient facilities in 16 states.
Published reports state that IPC plans to list its shares on the Nasdaq Global Market under the symbol "IPCM."
For the six months ended June 30, IPC reported net income of $3.6 million, compared with net income of $1.6 million the year-ago period. Revenue for the first six months of 2007 was $89.6 million, up 25 % from revenue of $71.6 million in the first half of 2006.
The company did not disclose the expected number or price range of shares to be offered, but indicated the maximum offering could total $105 million.
Hospital medicine continues to expand and the Society of Hospital Medicine estimates the number of hospitalists has grown from about 800 in the mid-1990s to about 20,000 in 2006, according to the filing.
Source: Associated Press. To view the entire article, go to: http://www.forbes.com/feeds/ap/2007/09/04/ap4079210.html. For more information about IPC, go to www.hospitalist.com.

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