The Financial Post reports in its Friday edition that Bank of Nova Scotia said Thursday that it will buy the Canadian Medical Association's wealth management firm for nearly $2.6-billion. The Post's Geoff Zochodne writes that Scotiabank is financing a portion of the purchase of MD Financial Management with a $1.5-billion public offering of 19.7 million common shares of Scotiabank at $76.15 apiece. MD Financial will be a stand-alone brand within Scotia Wealth Management, with its current employees and management remaining in place. A notice on the MD Financial website promised a "seamless transition" for clients, of which, Scotiabank noted, there are around 110,000. "Scotiabank is firmly committed to preserving MD's unique physician-specific approach to financial services and appreciates the in-depth knowledge of our highly skilled staff," the notice said. "Additionally, over time, Scotiabank intends to grow our suite of services and expand the breadth and depth of the specialized financial advice offered by MD, enabling us to meet more of the needs of physicians and their families at all stages of their lives and careers." The terms of the deal would also see Scotiabank invest $115-million over the next decade.