Physician management company IPC The Hospitalist Co Inc on Thursday raised $75.2 million with an initial public offering.

North Hollywood-based IPC sold 4.7 million shares for $16 per share, compared with a forecast range of $15 to $17, one of the underwriters told Reuters.

Underwriters, led by Credit Suisse and Jefferies & Company Inc, have the option to purchase an additional 705,000 shares. The shares will be listed on the Nasdaq under the symbol “IPCM.”

IPC doctors provide inpatient care in hospital and other institutional settings. The public offering is the first of its type for the industry and comes after years of steady growth by IPC, which has acquired smaller hospitalist practices nationwide. Founded in 1995, the company’s net revenue in 2006 grew 33 percent to $148 million, with net income falling 47 percent to $2.5 million due to expansion costs.