The Doctors Company, a physician-owned medical malpractice insurer, has completed its acquisition of Florida-based FPIC Insurance Group.
FPIC Insurance Group is a provider of medical professional liability insurance for physicians, dentists, and other healthcare providers.
The merger is expected to enhance The Doctors Company’s market position as the major insurer of physician and surgeon medical liability with more than 70,000 members.
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.
The Doctors Company chairman and CEO Richard Anderson said combining the two physician-founded companies strengthens our ability to defend, protect, and reward the practice of good medicine.