The Doctors Company, a physician-owned medical malpractice insurer, has completed its acquisition of The SCPIE Companies, a major provider of health care liability insurance.
With the addition of more than 8,000 physician policyholders, The Doctors Company now has more than 43,000 physician members, and expands its market share in California to serve 19,000 physicians.
In connection with the closing of the transaction, SCPIE’s common stock is being deregistered with the Securities and Exchange Commission and delisted with the New York Stock Exchange and public trading of SCPIE’s securities has ceased.
SCPIE will function as a wholly owned subsidiary of The Doctors Company and its operations will be merged into the company’s existing operations. The company will maintain a fully staffed, full-service office in Los Angeles.
Richard Anderson, chairman and CEO of The Doctors Company, said: The combination of SCPIE and The Doctors Company strengthens our ability to deliver on our mission to relentlessly advance, protect and reward the practice of good medicine. We are pleased by the enhanced value that The Doctors Company will be able to offer California physicians, including lower rates, unparalleled service, and outstanding policyholder benefits.