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Hospitalist Co.'s initial public offering of 5.2 million shares priced at $16 a share, at the midpoint of price talk of $15 to $17 a share.

Credit Suisse, Jefferies & Co., Wachovia Securities and William Blair & Co. are listed as underwriters for the IPO.

Underwriters have an option for an additional 705,000 shares.

The company said it intends to use net proceeds from the IPO to repay debt and for general corporate purposes, including the acquisition of physician practices and working capital.

Gross spread was $1.12. Selling concession was 67.2 cents. Management and underwriting fees were 22.4 cents. The settlement date is Jan. 30.

The North Hollywood, Calif., provider of inpatient care will trade on Nasdaq Global Market under ticker IPCM.

For the nine months ended Sept. 30, 2007, IPC reported a net loss of $3.7 million, swinging from a profit of $325,000 in the 2006 nine-month period.

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