Simplyhealth has announced that the Competition and Markets Authority (CMA) has approved the sale of certain business units to Axa PPP Healthcare.
The company is looking to sell off its its private medical insurance business and the Simplyhealth Administration Services Limited unit, which administers its self-funded business, as part of a strategic reorientation.
“Simplyhealth's planned sale of its private medical insurance business to Axa PPP Healthcare has been cleared by the Competition and Markets Authority.“
Having agreed the deal in April, the approval of the CMA means the transaction can now proceed as planned. It is expected to be completed on August 1st.
Simplyhealth said this aligns with its broader strategy of increasing investment in businesses that meet a growing need in the UK for everyday healthcare provision.
Romana Abdin, chief executive at Simplyhealth, said: "The funds we raise from the sale will enable us to grow our cash plan, pet plan, independent living and dental delivery businesses as well as acquiring businesses in new growth areas."
The firm chose to sell off these assets following a strategic review of its activities, informed by a detailed 18-month analysis of the marketplace for healthcare services.See all the latest jobs in Dental