IPC The Hospitalist Company Inc., a North Hollywood, Calif.-based network of hospitalist physicians, raised $75.2 million in its IPO. The company priced 4.7 million common shares at $16 per share ($15-$17 range), for an initial market cap of approximately $236.99 million. It plans to trade on the NYSE under ticker symbol IPCM, while Credit Suisse and Jefferies & Co. served as co-lead underwriters.
Shareholders include Scale Venture Partners (31.79% pre-IPO stake), Morgenthaler Ventures (25.46%), Bessemer Venture Partners (17.41%) and CB Health Ventures (14.88%). www.ipcm.com