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NAPA, Calif. & BIRMINGHAM, Ala. - The Doctors Company and ProAssurance Corporation (NYSE:PRA) announced Monday that the U.S. Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for their pending acquisition deal.
The termination, granted on July 2, satisfies one of the required conditions for the transaction’s completion. The acquisition is expected to close in the first half of 2026, subject to remaining regulatory approvals and other customary closing conditions, according to a press release statement.
Both companies will continue to operate independently until the deal closes.
The Doctors Company, which describes itself as the nation’s largest physician-owned medical malpractice insurer, is acquiring ProAssurance, a specialty insurer focused on medical professional liability, products liability for medical technology and life sciences, and workers’ compensation insurance.
The Doctors Company is part of TDC Group, which serves over 110,000 healthcare professionals and organizations nationwide with annual revenue of $1.5 billion and more than $8 billion in assets.
ProAssurance is rated A (Excellent) by AM Best and provides insurance products and services across the eastern United States.
No financial details of the acquisition were disclosed in the announcement.
In other recent news, ProAssurance Corporation’s stockholders have approved the company’s acquisition by The Doctors Company, with over 99% of votes in favor. This transaction, pending regulatory approvals, 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 stock will be delisted from the New York Stock Exchange. This merger is anticipated to enhance the capabilities of both companies in serving healthcare providers. In another development, Raymond James downgraded ProAssurance’s stock rating from ’Market Perform’ to ’Underperform.’ The downgrade reflects concerns about ProAssurance’s stock valuation, particularly its 2025 estimated earnings per share multiple, which is reported to be nearly double the industry average. Analysts at Raymond James have highlighted ProAssurance’s lower projected return on equity compared to its peers. The acquisition process and its regulatory outcomes are expected to have further implications on ProAssurance’s stock valuation and performance.
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