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Farella Braun + Martel Assists The Doctors Company in $386 Million Acquisition of American Physicians Capital, Inc.

July 12, 2010 Announcement

Combination creates one of the largest professional liability companies in the nation

San Francisco (July 12, 2010) - Farella Braun + Martel advised The Doctors Company, the largest national insurer of physician and surgeon medical liability, in acquiring American Physicians Capital, Inc. (APCapital) (NASDAQ: ACAP), a major provider of health care liability insurance, for approximately $386 million.

The business combination of the two physician-founded companies creates one of the largest professional liability companies in the nation and will expand The Doctors Company position as the largest national insurer of physician and surgeon medical liability to nearly 55,000 member insureds.

Leading the Farella Braun + Martel team was Philip W. Peters, partner in the firm's Business Transactions practice. Assisting Peters were associates Jesse Debban and Nilima Patel. Also assisting on the transaction were employment partner Doug Dexter, corporate partner Samuel C. Dibble and tax partners Said C. Kordestani and William J. Schlinkert. APCapital was represented by Dykema Gossett PLLC.

The sale of public companies often involves a carefully orchestrated and confidential auction process that is designed to maximize shareholder value. Peters observed, "One simply doesn't know the identity of the other bidders and the strengths and weaknesses of their bids. A bid must carefully balance price, related terms and timing, with the law firm providing a nimble interdisciplinary team to address any contingency during the bid process and simultaneous due diligence. In this transaction, the signing of the agreement was preceded by intense work over the 4th of July weekend. At Farella, our love of the country is equaled only by our dedication to important clients like The Doctors Company."

Farella Braun + Martel represents clients throughout the United States and abroad in sophisticated business transactions and high-stakes commercial, civil and criminal litigation. Founded in 1962, the firm is headquartered in San Francisco and maintains an office in the Napa Valley focused on the wine industry. Farella Braun + Martel lawyers are known for their imaginative legal solutions, dynamism and intellectual creativity. With an unwavering service ethic and interdisciplinary team approach, the firm is committed to advancing clients' objectives in the most effective, coordinated and efficient manner.  Farella Braun + Martel is a green business. www.fbm.com

Contacts:
Melinda Hepp / Traci Stuart                             
Blattel Communications                        
415.397.4811                                                 
[email protected] / [email protected]          

Cheryl Loof
Farella Braun + Martel LLP
415.954.4433
[email protected]

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