Medical Mutual and HPIX announced the completion of the policy acquisition, which was effective on January 1, 2016. The acquisition expands Medical Mutual's footprint into the Mid-Atlantic territory, and is expected to grow its insured count by almost 20%.
"We are delighted to officially welcome HPIX policyholders and employees to the Medical Mutual family. We are equally excited that Tom and Nick Gaudiosi have joined our leadership team and will continue to build upon the legacy they began with HPIX. We share a primary focus on the physician communities we serve, providing them with innovative resources and unsurpassed customer service," said Dale Jenkins, Chief Executive Officer of Medical Mutual.
"We have been on a transformational course during the past several years as we strategically explored innovative ways to grow our business in light of the evolving medical malpractice landscape," said Tom Gaudiosi, Chief Executive Officer of HPIX Insurance Services, a Medical Mutual company.
Together, Medical Mutual and HPIX will continue a shared mission of providing outstanding service and insurance programs to members, and will reinforce their delivery of strong local leadership supported by greater resources and technology to the health care market.
Founded in 2002, HPIX is a Pennsylvania-based reciprocal insurance exchange with offices in Harrisburg and Philadelphia. HPIX will continue its rich history of providing excellent service to health care professionals in the Mid-Atlantic region and will retain its Board of Directors.
Medical Mutual is a physician-owned provider of medical professional liability insurance founded in 1975. Since its inception, Medical Mutual has promoted physician advocacy and supported educational opportunities for practice administrators through its longstanding partnerships with organizations such as the North Carolina Medical Society and North Carolina Medical Group Managers Association.