IPC The Hospitalist Company, Inc. Announces Closing of Public Offering and Exercise...

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

NORTH HOLLYWOOD, Calif., July 22 /PRNewswire-FirstCall/ -- IPC The
Hospitalist Company, Inc. (Nasdaq: IPCM), a leading national hospitalist
physician group practice, today announced that it closed its previously
announced public offering of 3,500,000 shares and that the underwriters of the
offering have exercised their over-allotment option and purchased 525,000
additional shares of common stock from the selling stockholders at the public
offering price of $18.50 per share. The Company sold 1,135,231 shares in the
offering, and including the over-allotment, the selling stockholders sold
2,889,769 shares in the offering.
Credit Suisse Securities (USA) LLC and Jefferies & Company, Inc. acted as
joint book-running managers for the offering. William Blair & Company,
L.L.C., Deutsche Bank Securities, Inc. and Wachovia Capital Markets, LLC acted
as co-managers for the offering.
Copies of the prospectus related to the offering may be obtained from the
Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010,
(800) 221-1037, or the Jefferies & Company Prospectus Department, 520 Madison
Avenue, New York, NY 10022, (888) 449-2342.
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
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.
Safe Harbor Statement
Certain statements and information in this press release may be deemed to
be "forward-looking statements" within the meaning of the Federal Private
Securities Litigation Reform Act of 1995. Forward-looking statements are often
characterized by terminology such as "believe", "hope", "may", "anticipate",
"should", "intend", "plan", "will", "expect", "estimate", "project",
"positioned", "strategy" and similar expressions. Any forward-looking
statements are necessarily based on a variety of estimates and assumptions
which, though considered reasonable by the Company, may not be realized and
are inherently subject to significant business, economic, competitive,
industry, regulatory, market and financial uncertainties and contingencies,
many of which are and will be beyond IPC's control. Important risks and
uncertainties that could cause actual results, developments and business
decisions to differ materially from those contemplated by any forward-looking
statements are described in IPC's most recent Annual Report on Form 10-K,
including the section titled "Risk Factors," and actual results could differ
materially from those anticipated in forward-looking statements.
In particular the following risks and uncertainties may have such an
impact:
-- failure to comply with complex and intensive government regulation of
our industry;
-- the ability of our affiliated hospitalists to appropriately document
services they provide;
-- the adequacy of our insurance coverage and insurance reserves;
-- our ability to recruit and retain qualified physicians;
-- our ability to successfully integrate new acquisitions;
-- the effect of changes in rates or methods of third-party reimbursement;
and
-- the high level of competition in our industry.
IPC undertakes no obligation following the date of this press release to
update or revise any such statements or projections whether as a result of new
information, future events, or otherwise.
Contacts:
Devra Shapiro Stephanie Carrington/Jared Hoffman
IPC The Hospitalist Company, Inc. The Ruth Group
(818) 766-3502 (646) 536-7017/7013
scarrington@theruthgroup.com
jhoffman@theruthgroup.com

SOURCE IPC The Hospitalist Company, Inc.

Devra Shapiro of IPC The Hospitalist Company, Inc., +1-818-766-3502; or
Stephanie Carrington, +1-646-536-7017, scarrington@theruthgroup.com, or Jared
Hoffman, +1-646-536-7013, jhoffman@theruthgroup.com, both of The Ruth Group,
for IPC The Hospitalist Company, Inc.