Doctors Co. adds more coverage with SCPIE

The Doctors Co. followed an aggressive prescription for growth Tuesday. The Napa, Calif.-based private physician-owned medical malpractice insurer reached an agreement to acquire publicly traded SCPIE Holdings Inc., also a major healthcare liability insurance provider, for approximately $281 million in cash. Doctors is offering $28 per share in cash, which represents a 27% premium from SCPIE’s closing price on Monday.

The middle-market deal would make Doctors the nation’s largest provider of professional liability insurance to physicians and surgeons. Overall, Doctors would be insuring over 32,000 physicians in the U.S., most of which are in California.

Deutsche Bank Securities Inc. acted as financial adviser to SCPIE, while Latham & Watkins LLP and Richards, Layton & Finger LLP provided it with legal advice. Meanwhile, Fox-Pitt Kelton Cochran Caronia Waller acted as financial adviser to Doctors; Thelen Reid Brown Raysman & Steiner LLP provided legal advice. — Gerald Magpily
see original

You may also like

Legislative panel approves medical malpractice bill
Read more
Urgent-care centers: Illinois numbers grow as time-pressed families seek low-cost option to ERs
Read more
Global Center for Medical Innovation launches
Read more

Recent Posts

California Healthcare Providers, Trial Attorneys, Legislators Reach Deal to Increase MICRA Cap

Corporate Acquisitions Accelerating Surge in Employed Physicians

AM Best Maintains Negative Outlook for MPL Segment in 2022, Cites Rising Loss Costs, Increasing Severity, Diminished Reserves

Popular Posts

2022 Medical Malpractice Insurance Rates: What the data tells us

Arizona Court Decisions Affirm Two Medical Professional Liability Reform Laws

Global Center for Medical Innovation launches

Start Your Custom Quote Process™

Request a free quote