The Doctors Company Acquires FPIC Insurance Group, Inc.
19 Octubre 2011 - 10:29AM
Business Wire
The Doctors Company announced today that it has completed its
acquisition of FPIC Insurance Group, Inc. (NASDAQ:FPIC), the parent
company of First Professionals Insurance Company, Inc.; Advocate,
MD; Intermed; and Anesthesiologists Professional Assurance Company.
FPIC is a major provider of health care liability insurance in
Florida, Texas, Georgia, and Arkansas.
With the completion of the merger and the addition of 18,000
insureds, The Doctors Company solidifies its position as the
nation’s largest insurer of physician and surgeon medical
liability, with 71,000 member physicians.
“Combining our two physician-founded companies strengthens our
ability to defend, protect, and reward the practice of good
medicine,” said Richard E. Anderson, MD, FACP, chairman and CEO of
The Doctors Company. “We are pleased by the enhanced value that The
Doctors Company will be able to offer physicians, including
unparalleled service, exceptional financial strength, and
outstanding member benefits. Among those benefits is our unrivaled
Tribute® Plan, which rewards physicians for their loyalty to The
Doctors Company and for the practice of good medicine.”
Upon renewal with The Doctors Company, physicians insured by
FPIC and its subsidiaries will automatically participate in the
Tribute Plan.
In connection with the closing of the transaction, FPIC’s common
stock is being deregistered with the Securities and Exchange
Commission and delisted with NASDAQ, and public trading of FPIC
securities will cease at the close of market today. FPIC will
function as a wholly owned subsidiary of The Doctors Company, and
its operations are being integrated with the company’s existing
operations. The company will maintain FPIC’s offices, including its
Jacksonville, Florida headquarters, and Advocate, MD’s office in
Austin, Texas.
About The Doctors Company
Founded by doctors for doctors in 1976, The Doctors Company
(www.thedoctors.com) is relentlessly committed to advancing,
protecting, and rewarding the practice of good medicine. The
Doctors Company is the nation’s largest insurer of physician and
surgeon medical liability, with 71,000 members, $4 billion in
assets, and an A rating from both A.M. Best Company and Fitch
Ratings.
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