NORCAL Mutual Insurance Company has acquired PPM Services, the holding company for Preferred Physicians Medical Risk Retention Group (PPM).
As part of the transaction PPM Services, located in Overland Park, Kansas, will partner with NORCAL, expanding PPM’s presence in the Midwest.
Steven Sanford, president and CEO of PPM, said: "We are very pleased to be joining such a well-respected company as NORCAL, who shares our commitment to always putting the best interests of physician policyholders first.”
“PPM will now be able to leverage the considerable resources of NORCAL to further expand our anaesthesia brand, better respond to changes in the health care environment and deliver additional value to our policyholders.”
Scott Diener, president and CEO of NORCAL, added: “This is a great partnership for both companies and an opportunity for NORCAL to continue our national expansion and establish a strong Midwest presence.”
