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

NORTH HOLLYWOOD, Calif., Feb. 5 IPC TheHospitalist Company, Inc. (Nasdaq: IPCM), a leading provider of hospitalistservices, today announced that it closed its previously announced initialpublic offering of 5,200,000 shares on January 30, 2008 and that theunderwriters of the offering have exercised their over-allotment option andpurchased 705,000 additional shares of common stock from the sellingstockholders at the public offering price of $16.00 per share. Including theover-allotment, the Company and selling stockholders sold 5,905,000 shares inthe offering for net proceeds of $84.5 million after deducting theunderwriting discounts and commission and the estimated offering expenses.Excluding shares offered by selling stockholders, net proceeds to the companyamounted to approximately $45.8 million after deducting the underwritingdiscounts and commission and the estimated offering expenses.

Credit Suisse Securities (USA) LLC and Jefferies & Company, Inc. acted asjoint bookrunners for the offering. Wachovia Capital Markets, LLC and WilliamBlair & Company, L.L.C. acted as co-managers for the offering.

This offering is made only by means of a prospectus, copies of which maybe obtained from the Credit Suisse Prospectus Department, One Madison Avenue,New York, NY 10010, (800) 221-1037, or Jefferies & Company ProspectusDepartment, 520 Madison Avenue, New York, NY 10022, (888) 449-2342.

A registration statement relating to these securities has been declaredeffective by the Securities and Exchange Commission. This press release shallnot constitute an offer to sell or the solicitation of an offer to buy thesesecurities, nor shall there be any sale of these securities in any state orjurisdiction in which such offer, solicitation or sale would be unlawful priorto registration or qualification under the securities laws of any such stateor jurisdiction.

About IPC The Hospitalist Company, Inc.

Founded in 1995, IPC The Hospitalist Company, Inc. is a leading providerof hospitalist services in the United States. IPC's physicians manage andcoordinate the care of hospitalized patients and serve as the inpatientpartner of primary care physicians and specialists. IPC assists hospitals andpayors in improving quality of inpatient care, increasing operatingefficiencies and reducing costs. The Company provides its hospitalists withthe management systems, information technology, training and administrativesupport necessary to perform these services.Contacts: Devra Shapiro IPC The Hospitalist Company, Inc. (818) 766-3502 Stephanie Carrington/Elizabeth Scott The Ruth Group (646) 536-7017/7014 [email protected] [email protected]

SOURCE IPC The Hospitalist Company, Inc.

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