NAPA, Calif., Sept. 6 /PRNewswire/ -- The Doctors Company, the nation's leading physician-owned medical malpractice insurance provider, today announced that it has entered into an agreement to acquire Northwest Physicians Mutual Insurance Company (NPM), the top medical liability carrier in Oregon.
"We are extremely pleased to announce this partnership between two physician-owned companies as we combine the strengths of both organizations. Northwest Physicians policyholders can rest assured that they will benefit from the unique advantages that TDC Group provides to all of its insureds -- local knowledge backed by national experience and enduring financial stability -- while preserving the best of their company," said Richard E. Anderson, M.D., F.A.C.P., chairman and CEO of The Doctors Company. "We look forward to a seamless transition. The NPM staff and management team will remain in place with operations continuing to center in Salem, Oregon. Day-to- day policyholder services will continue without interruption."
"This combination, which brings together like-minded companies and management teams, allows us to enlarge our success in the region and to better serve our policyholders," said William J. Gallagher, M.D., chairman and president of Northwest Physicians Mutual Insurance Company. "This union will continue the values, culture, and leadership of both organizations."
"We're connecting two physician-led companies that serve complementary markets and share a common mission of providing outstanding service to our physician policyholders," continued Dr. Anderson.
TDC Group will acquire NPM as a wholly owned subsidiary, further enhancing its capability of offering a variety of physician-centric insurance products and services on a national basis. The acquisition is subject to approval by industry regulators and NPM physician members. It is expected to be completed in December 2005.
About The Doctors Company
Founded by doctors for doctors in 1976 to protect the practice of good medicine, The Doctors Company (http://www.thedoctors.com) is the nation's leading physician-owned medical malpractice insurance provider. With solid financial strength and a unique understanding of the medical malpractice risk environment, The Doctors Company enjoys a reputation as the industry vanguard.
About Northwest Physicians Mutual Insurance Company
Northwest Physicians Mutual Insurance Company (http://www.npmic.com) is Oregon's largest medical malpractice mutual insurance company, owned and directed by its physician policyholders. NPM insures physicians and their associated practices in Oregon, Idaho, and Washington. NPM is committed to developing opportunities, responding to change, improving patient safety, and growing in the dynamic health care field.
The Doctors Company;CONTACT: Jes Hulsey, +1-707-226-0247
