"State Green-lights $650M Sale of Health Systems' Malpractice Insurer" - Jennifer Henderson
The state Department of Financial Services has approved the purchase of Hospitals Insurance Co. by medical-malpractice giant The Doctors Co. for $638 million. Hospitals Insurance Co.—which also provides malpractice insurance—is owned by Maimonides Medical Center, Montefiore Health System and Mount Sinai Health System. Mount Sinai is set to receive half the proceeds from the sale—expected to be used for its expansion in downtown Manhattan.
— Mount Sinai Health System