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The Doctors Company, the nation's leading physician-owned medical malpractice insurance provider, today announced that it has entered into an agreement to acquire OHIC Insurance Company (OHIC), a leading medical liability carrier in our state of Ohio.
"We are pleased to announce this agreement which will combine 2,000 Ohio physician-insureds, 23 community hospitals and many other health care facilities with The Doctors Company's substantial Ohio physician member base to create the only physician-owned, Ohio-based medical-professional liability insurer," said Richard E. Anderson, M.D., F.A.C.P., chairman and CEO of The Doctors Company.
"This strategic acquisition enhances The Doctors Company position as a major insurer in Ohio and further solidifies the company as the nation's leading physician-owned medical liability carrier." The Doctors Company will acquire OHIC as a wholly owned subsidiary, further enhancing its capability to offer a variety of physician-centric insurance products and services. OHIC will also continue providing service to hospital and health care facility insureds. The acquisition is subject to approval by ODI and is expected to be completed in December 2006. Together, OHIC and The Doctors Company will be among the top companies in market share in Ohio.
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