Doctors Co. buys American Physicians Capital for $386M

The Doctors Co., the largest medical malpractice insurer nationwide, said late Friday that it has completed the $386 million purchase of publicly traded American Physicians Capital Inc., parent of American Physicians Assurance Corp.

The big medical malpractice insurance deal was originally announced in July.

American Physicians, based in East Lansing, Mich., provides liability coverage to physicians in Illinois, Michigan, New Mexico and Ohio. Terms of the deal haven't been disclosed by the Doctors Co., but other sources, including its attorneys at Farella Braun + Martel in San Francisco, have released the data.