ExamWorks Group's stock gained ground after its shares debuted on the market at the low end of its range.
The initial public offering priced at $16 early Thursday. Shares rose $1.15, or 7.2 percent, to reach $17.15 in afternoon trading.
The Atlanta-based company provides independent medical examinations and other services for the insurance and legal industries.
ExamWorks and its shareholders offered a total of 10.3 million shares. The company is offering about 7.7 million shares while selling shareholders are offering about 2.5 million. Underwriters have a 30-day option to buy up to an additional 1.5 million shares to cover any excess demand.
ExamWorks Group Inc. says it expects net proceeds of about $118.8 million and it will use most of it to repay debt.