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Medicus in the news Medicus Insurance Holdings, Inc. Secures Additional Funding from The Cypress Group and CHL Medical Partners Insurance company raises new capital to support growth Austin, March 11, 2008— Medicus Insurance Holdings, Inc. announced today that it has completed a second round of financing with institutional investors for an additional $10 million of Series A Preferred Stock. This is the second funding for the company under a $100 million facility created in August 2006, bringing total institutional funding to date to $25 million. Medicus was formed in order to provide a superior source of medical professional liability insurance coverage to physicians, and through its insurance subsidiary is now licensed to do business in 11 states. Sponsoring investors of Medicus are affiliates of The Cypress Group and CHL Medical Partners. Medicus senior officers, led by Howard H. Lamb and Sheldon Davidow, also have a significant investment in the company. Speaking on behalf of the management team, Medicus CEO Howard Lamb stated: "We are pleased with the market reception Medicus has enjoyed to date and the encouraging response to Medicus from doctors and their agents. The vote of confidence from our investors in providing additional funding to support our growth will allow us to continue our rapid progress in positioning Medicus to be an industry leader, and further improves the high quality of insurance coverage we provide to our policyholders." The shares of common stock and Series A Preferred Stock of Medicus Insurance Holdings, Inc. have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful. About Medicus
Quotes The Medical Industry has stood up and taken notice of Medicus. Here’s just a sampling of the interest we’ve created:
"Texans are reaping the benefits of the passage of Proposition 12 in 2003. Medical liability premiums have been reduced significantly. Medical liability claims have reduced significantly. There were only two medical liability carriers operating in Texas prior to passage of Proposition 12. Competition is returning to our state and benefiting our physicians. It is gratifying to see this trend continue. We welcome our newest option, Medicus, a Texas-domiciled admitted company. This benefits the citizens of Texas by improving access to care, especially in high risk procedures." William H. Fleming III M.D.
“It’s rewarding to see the positive effects tort reform is having on our professional liability insurance premiums as new companies like Medicus enter the Nevada market. “ John Nowins M.D.
"The success of any legislation passed to improve the health of Texans is when the intended results occur. The medical tort reform legislation that was passed in 2003 with the help of the Texas Medical Association has brought physicians in high risk specialities back to Texas to provide access to needed healthcare for Texans. Providing a climate where more medical liability carriers enter the Texas market to provide choice for physicians is the hallmark of the American free market. It is great to see it come to fruition." Jim Rohack MD
“Because of Medicus insurance company, my practice, PBS Anesthesia, is paying 25% less on our med-mal insurance premiums. Many groups have switched to Medicus and I recommend you consider it as well. “ Dodd Hyer M.D.
"Tort reform by the Texas Legislature has relieved significantly the obstacles for practicing physicians which have in the past strained the doctor patient relationship. Physicians are now more inclined to focus on the fundamental needs of their patients rather than on concerns about outcomes of therapy. Professional liability has changed so insurance companies can provide more realistic and reasonable rates for physicians while not removing patient's right to protection. We welcome Medicus Insurance Company to the new era of protection for both physicians and patients." Denton A. Cooley, MD
“Nevada physicians are finally seeing the results of tort reform. New companies like Medicus Insurance are creating lower rates and more choice within the state. I have asked Medicus for an insurance quote and encourage you to do the same.“ Donald Mohs M.D.
"The successful enactment of meaningful tort reform has been extraordinarily important to patients and physician in Texas. It has led to an enhanced ability to recruit physicians even into areas that had been losing physicians before. And now, it appears, tort reform means that insurance companies are looking at coming into the state to offer more choices to physicians. The increase in choices for liability coverage by fully regulated companies should help keep rates competitive and further enhance the ability of physicians to concentrate on what is best for patients rather than worrying about potential lawsuits. As part of this change, we welcome Medicus Insurance Company to Texas." Nancy W. Dickey,
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