April 1, 2025 – Napa, CA – The Doctors Company Acquires ProAssurance Corporation (NYSE: PRA) in a $1.3 billion transaction, significantly strengthening its role in the medical liability insurance market.
Expanding Nationwide Healthcare Liability Coverage
Under the terms of this deal, ProAssurance stockholders will receive $25.00 per share in cash, representing a 60% premium over the March 18, 2025 closing price. Consequently, this acquisition will expand The Doctors Company’s total assets to approximately $12 billion, further reinforcing its ability to serve healthcare providers nationwide.
Enhancing Support for Medical Professionals
Richard E. Anderson, MD, FACP, Chairman and CEO of The Doctors Company, emphasized the strategic significance of this merger.
“We are committed to protecting and rewarding the practice of good medicine. By acquiring ProAssurance, we can extend our support to even more healthcare professionals across the country. Because healthcare operates as a team effort, we need a company with the scale, resources, and expertise to serve providers effectively. This acquisition allows us to achieve that goal,” Anderson explained.
Likewise, ProAssurance CEO Ned Rand highlighted the shared values and synergies between the two companies.
“Both organizations were founded by physicians in response to the medical liability crisis of the 1970s. Over time, we have successfully merged with other physician-led companies to enhance our services. Therefore, joining forces with The Doctors Company now allows us to scale up further and strengthen our ability to protect healthcare professionals,” Rand stated.
Regulatory Approvals and Closing Timeline
ProAssurance’s Board of Directors has unanimously approved the deal, recommending that shareholders vote in favor. However, the acquisition remains subject to regulatory approvals and shareholder consent. If all conditions are met, the transaction is expected to close in the first half of 2026. Once completed, ProAssurance will become a wholly owned subsidiary of The Doctors Company, and its common stock will be delisted from the NYSE. Doctors Company Acquires
Advisors Overseeing the Transaction
- The Doctors Company: Houlihan Lokey Capital, Inc. and Howden Capital Markets & Advisory serve as financial advisors, while Mayer Brown LLP provides legal counsel.
- ProAssurance Corporation: Goldman Sachs & Co. LLC acts as the financial advisor, with Simpson Thacher & Bartlett LLP and Willkie Farr & Gallagher LLP providing legal counsel.
Read More on MedLegalNews.com
- Construction Company Cited $157,500 After Fatal Trench Collapse
- California Attorney General Bonta Reaches $1.3 Million Settlement in Fake Health Insurance Case
- CA Insurance Commissioner Reappoints Two to WCIRB Governing Committee
For more insights on healthcare liability and legal news, visit MedLegalNews.com.
Source: The Doctors Company
3Stay informed on major legal and insurance updates affecting healthcare providers. Subscribe to MedLegalNews.com today!