The Doctors Co., a national insurer of physician and surgeon medical liability, will acquire American Physicians Capital Inc. (APCapital), an East Lansing, Mich.-based provider of healthcare liability insurance, in a transaction that is expected to close in the fourth quarter of 2010, the companies announced. The aggregate purchase price is approximately $386 million.
The Doctors Co. said the merger further expands its position as the largest national insurer of physician and surgeon medical liability to nearly 55,000 member insureds.
APCapital’s board of directors has approved the proposed transaction and will recommend that its shareholders approve the merger.
Source: American Physicians Capital, The Doctors Co.
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