AXA PPP COMPLETE ACQUISITION
Following the completion of the acquisition of Simplyhealths PMIs business, AXA PPP Healthcare CEO, Keith Gibbs said:
“Now that we have formally completed the acquisition of Simplyhealth’s PMI business, I am delighted that we are in a position to work with Simplyhealth’s PMI employees and distributors to ensure that customers continue to receive the excellent service they have come to expect while we transition their healthcare cover to AXA PPP healthcare.
“I am also delighted to welcome Simplyhealth’s PMI employees to the AXA family and I am sure that, by combining the strengths of the AXA PPP healthcare and Simplyhealth teams, we will be even better placed to provide excellent service and value to all of our customers.”
MEDIBANK 2015 FULL YEAR RESULTS
Medibank has announced its results for the year ended 30 June 2015, its first annual financial result since listing on the Australian Securities Exchange (ASX) on 25 November 2014.
Revenue in the period rose 2.9 per cent to $6.68 billion, operating profit increased by 33% and pro-forma net profit after tax rose 12.9 per cent to $291.8m.
BUPA HALF YEAR RESULTS
Bupa have issued their half year statement for the six months ended 30 June 2015. Revenue at £4.9bn was up 3% and underlying profit before taxation £253.3m down 3% . Stuart Fletcher CEO said, “We’ve made steady progress in the first half of 2015, despite a challenging backdrop, delivering revenue and underlying profit growth at CER and maintaining strong market positions underpinned by a robust balance sheet.”
AUSTRALIAN GOVERNMENT TO REVIEW REFORMS
Australian Health Minister, Ms Sussan Ley, has agreed to look at private health reforms to make medical insurance less expensive, amid concerns rising premiums have undermined the sector and threaten to put further pressure on public hospitals
VHI BERKSHIRE HATHAWAY AGREEMENT
Vhi have announced that the Central Bank of Ireland has authorised Vhi Insurance DAC as a Non-Life Insurance Company and Vhi Healthcare Ltd as an Insurance Intermediary. The newly authorised entities will commence to trade from 31 July 2015. The total capital reserves upon commencement to trade of Vhi Insurance DAC will exceed €540million
MIDDLE EAST UNIFIED HEALTH SYSTEM COULD EMERGE
A unified healthcare system could emerge across different countries in the Middle East in the wake of tightening regulation in the region according to Jelf International’s director of international services, Doug Rice
CINVEN to sell Spire Stakeholding
Cinven, the private equity firm behind Britain’s second largest independent sector hospital group, Spire Healthcare, is to sell 29.9% of the company. Cinven, is to sell its £432m stake to Remgro, the major shareholder of South African private healthcare firm Mediclinic.
AXA to acquire Simplyhealth PMI business
AXA has announced that it has reached an agreement with Simplyhealth to acquire its private medical insurance (PMI) business, subject to approval by the appropriate authorities.
Medibank has published its first results since listing on the Australian Securities Exchange in November 2014.
iFHP 2013 Price Report
The International Federation of Health Plans (IFHP) today released its 2013 Comparative Price Report, detailing its annual survey of medical prices per unit. Designed to showcase the variation in healthcare prices around the world, the report examines the price of medical procedures, tests, scans and treatments in nine countries.
Bupa Global Partnership
Bupa, has announced a strategic global partnership with the Blue Cross Blue Shield system (BCBS), to create the largest global healthcare provider network, including 11,500 hospitals and 750,000 medical professionals in 190 countries.
Bupa in Chile acquisition
Grupo Bupa Sanitas SL, a Spanish health services provider, agreed to acquire control of Chile’s Cruz Blanca Salud SA. “The goal of this plan is to continue developing the company together with a leading international partner such as Bupa Sanitas,” Cruz Blanca Chairman Salvador Said Somavia said in the statement.
Source Bloomberg News
Metropolitan Health acquisition
Metropolitan Health has acquired Port Elizabeth-based PROVIDENCE Healthcare Risk Managers. Metropolitan Health CEO Blum Khan said that, in addition to significantly strengthening the company’s Eastern Cape footprint, the acquisition “fits perfectly with the company’s goals for profitable growth and the pursuit of innovative solutions that create greater access to healthcare.”