The deal, which is subject to regulatory approval, sees nearly all of Simplyhealth’s 390 Bristol employees transfer to Axa PPP Healthcare under a TUPE arrangement, as well as addition to a small number of Simplyhealth employees based at other Simplyhealth locations in the UK. The PMI business will continue to operate from its Bristol premises, which Axa is acquiring as part of the transaction.
Simplyhealth has been operating in the UK PMI market for 13 years. Employing around 400 people in Bristol, it provides health cover for over 200,000 people, individually and through its SME and corporate customers.
Keith Gibbs, chief executive, Axa PPP Healthcare says: “With its well balanced, stable book of business, Simplyhealth’s PMI business will be an excellent addition to Axa PPP Healthcare and this agreement has presented a rare opportunity to acquire complementary business in the UK. Both companies share a commitment to offering outstanding customer service, supporting their local communities and being an employer of choice.
Romana Abdin, chief executive of Simplyhealth says: “This is a deal that makes sense for both sides. The sale of our PMI business will accelerate Simplyhealth’s strategy of investing in everyday healthcare, addressing the everyday conditions that stop people from making the most of life. Axa PPP Healthcare has a long-term commitment to the PMI market and this sees them acquiring a business with well-aligned values and great customer service standards.”
