Albuquerque Journal (Albuquerque, NM)

Physicians See Returns From Malpractice Insurance.(Business)

Byline: Winthrop Quigley Journal Staff Writer

The 13 New Mexico physicians out of 2,300 eligible who bought stock in their own medical malpractice insurance company have so far been rewarded with a 37 percent price gain in a little more than a month.

Shareholders saw the initial offering price of $13.50 of American Physicians Capital Inc. on Dec. 19 rise more than 29 percent to a close Friday of $18.50.

An APCapital spokesperson said nationally 300,000 people were eligible to buy stock at its initial offering price and 200 did so.

According to the New Mexico Medical Society, about 85 percent of New Mexico's physicians in private practice bought their medical malpractice insurance from APCapital of East Lansing, Mich. …

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