20th December 2006
The Private Health Partnership Ltd (PHP), part of Skipton Building Society group, has acquired a 75 per cent shareholding in the care advisory service company, RED ARC Assured Ltd (RED ARC) – PHP’s second acquisition in a week.
RED ARC is a unique organisation providing tailored care, advice and patient centric help to people with serious illness or disability. The company has developed a range of services that ‘stand-alone’ or are included within selected ‘insurance products’, typically in the life, health, and protection sectors, eg critical illness insurance.
Jan Lawson, Managing Director of PHP said, “We have known RED ARC since its inception and followed its progress closely. RED ARC has established its own market and THE position within that market, and the client base it now enjoys is testament to the company’s success.
“This business is very complementary to our own, especially having the same ethos, and we can see excellent cross selling opportunities for the benefit of both organisations. Being in a unique position means RED ARC has no real competitors which is also extremely attractive.”
RED ARC will be a subsidiary of PHP and will retain its own separate brand identity. Jan Lawson becomes Chairman of RED ARC and Richard Thomas remains as a significant shareholder committed to developing the business further as Managing Director, with overall day to day management control. Jan Dryden, remains Director of Nursing Services and Peter Le Beau, RED ARC’s former non-executive Chairman will continue as a non-executive director.
RED ARC works closely with organisations who have an interest in the health and wellbeing of their members, policyholders or customers including, financial services companies, membership-based organisations affinity groups, and employers.
Currently it works closely with AIG, Bright Grey, CIS, Liverpool Victoria and Scottish Equitable (Employee Benefits) in the financial sector and the 5th largest trade union in the UK, PCS (Public and Commercial Services) which has 315,000 members. RED ARC also provides services to nearly half of the Police Federations in the UK.
Established in 1998, RED ARC is based in Hove, Sussex and it will be business as usual although there are plans to open a second RED ARC office in the north early in 2007.
RED ARC will benefit from PHP’s infrastructure which includes established finance, compliance, administration, human resources and IT functions designed to accommodate a rapidly expanding business. This acquisition being PHP’s fifth since September 2003.
Richard Thomas said, “This is a great move for RED ARC because joining up with PHP and having the financial strength of Skipton, a major financial institution, behind us really does allow the business to develop to the next level, which is very exciting.
“Our service is designed for those organisations that wish to ‘walk the extra mile’ for their members, employees or customers when they become seriously ill – it is not just about money, but the personal follow up, care and support.”
PHP will continue to look at further acquisition opportunities and remains interested in talking to other businesses with medical insurance portfolios who may be considering a sale, including from those intermediaries looking to retire.
PHP is one of the largest independent UK private medical insurance (PMI) intermediaries with over 7,000 clients and premium income in excess of £30 million. It became part of Skipton Building Society Group in November 2002.
For further information contact:
Jan Lawson, Managing Director, The Private Health Partnership Ltd
Tel: 01943 851133
Richard Thomas, Managing Director, RED ARC Assured
Tel: 01273 716700
Issued by:
Martin Wood, Concise Public Relations Ltd
Tel: 01252 656435
For more information on The Private Health Partnership click
here.
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