Hospitalists are the the fastest growing medical specialty in the US...and even the number of hospitalist companies are beginning to drop via consolidation...IPC has acquired 5 competing practices so far this year...BD
Financial backers of IPC The Hospitalist Co. are banking that one of the hottest trends in health care staffing is something investors might want to get a piece of. The North Hollywood-based management company for hospital-based physicians hospitalists in industry lingo has filed a preliminary prospectus with the U.S. Securities and Exchange Commission to make an initial public offering on the Nasdaq that could raise up to $105 million.
The public offering would be the first of its type for the industry and comes after years of relentless growth by IPC, which has acquired smaller hospitalist practices nationwide. Founded in 1995, the company saw its net income grow 33 percent last year to $148 million on net income of $2.5 million, according to the filing.
“Despite resistance from many primary care physicians, this is the wave of the future because of the cost pressures on hospitals to be more efficient,” said Jim Lott, executive vice president for healthcare policy and communications for the Hospital Association of Southern California.
Los Angeles Business Journal Online - business news and information for los angeles california
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