Constellation to Acquire Michigan Professional Insurance Exchange (MPIE)
March 25, 2022
Constellation, through its member companies, announced it has signed an agreement to acquire Michigan Professional Insurance Exchange (MPIE), a medical professional liability insurer based in Grand Rapids, Michigan. The deal is pending regulatory and subscriber approvals and is targeted to close in mid-2022/third quarter 2022, with MPIE’s staff and service model expected to remain in place during the transition.
- Buyers
- Constellation, Inc., MMIC Insurance, Inc., MMIC Insurance (parent Constellation-related)
- Targets
- Michigan Professional Insurance Exchange (MPIE), PRCD Inc., MPIE Consulting dba ERC Risk Solutions, LLC
- Platforms
- Constellation, Inc.
- Industry
- Insurance
- Location
- Michigan, United States
- Transaction Type
- Buyout
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