IPC Nabs LAVA’s “Best IPO” Award

IPC The Hospitalist Company Inc. has received the “Best IPO” award from the Los Angeles Venture Association, which recognizes Southern California’s best growth companies annually. Seven companies, including IPC, were honored at LAVA’s sixth annual Venture Awards Dinner, held in Beverly Hills on Jan. 22. Based in North Hollywood, IPC is the nation’s largest hospitalist physician group practice company, providing hospital medicine services to more than 350 facilities in 18 states. IPC completed its initial public offering in January 2008, raising $83 million. In July, it completed a $65 million follow-on offering. “We are pleased to celebrate the success of venture-backed companies, such as IPC,” LAVA Executive Director Leonard Lanzi said. “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.” IPC Chairman and CEO Dr. Adam Singer said that the company now has the capital necessary to execute its growth strategy. “We will continue to focus on growing our business by delivering high-quality inpatient care efficiently and cost-effectively,” Singer said.