The acquisition, for an undisclosed sum, is subject to regulatory approval and is expected to close in Q3 of 2015. After completion, PMIHG will use the Willis brand and maintain its operations at its current base in Wincham, Cheshire.
PMIHG was established in 1986 and is the UK’s largest independent provider of employee healthcare and risk management services. It offers a range of health and protection insurance, including services targeting absence management and occupational health. One in five of its 128 staff is medically-trained.
Willis GB CEO Nicolas Aubert says: “This deal is a major step forward for our human capital and benefits business, and offers strong synergies and future strategic opportunities. Both Willis Employee Benefits and PMI Health Group are recognised for their expertise and outstanding client service, and uniting these two wholly complementary businesses will enhance our competitive edge further.”
Willis Employee Benefits CEO Tony Powis says: “This allows us to fuse parts of the business together and offer some real value in the workplace to employers who are having to deal with absenteeism, presenteeism and an ageing workforce. PMI Health Group is a leading healthcare adviser, with great people and a proven track record. This is a pivotal and exciting time for both businesses. Our combined team will provide the scale, technology and expertise to deliver innovative and compelling value propositions.”
PMI Health Group CEO Matthew Baldwin says: “PMI Health Group has become a leading adviser in the employee healthcare market by having a great team and a unique proposition. We work to keep organisations and employees fit for business through the delivery of employee healthcare advice and services, nurse-led claims management and occupational health services. Joining with Willis will bring significant strategic opportunities and enable the PMI Health Group team and proposition to be an integral part of a growing, exciting and international business to service our clients.”