Biomedical

Initial sale: TriCare Inc., a major provider of medical evaluations used to resolve disputed workers’ compensation claims, said Friday that it had raised $4.5 million in an initial public stock sale.

In all, 1.6 million shares of common stock were sold at $6.50 per share. Of the shares sold, 700,000 were offered by the Santa Ana company and 900,000 by existing shareholders.

TriCare, which does business under the name of its only subsidiary, First Western Health Corp., has enjoyed a rapid growth in business in recent years. It says it will use proceeds from the stock sale to expand its operations, to increase working capital and for other corporate purposes, including possible acquisitions.