Axa PPP Healthcare has today received clearance from the UK Competition and Markets Authority (CMA) that the acquisition of Simplyhealth’s private medical insurance (PMI) business can go ahead.
The acquisition, announced in May, is expected to be 1 August. The Simplyhealth House property in Bristol is included in the transaction, which also sees all of Simplyhealth’s employees in the PMI business transfer to Axa PPP Healthcare and continuing to serve their customers as the two businesses come together.
Axa PPP Healthcare intends to start transferring the underwriting of Simplyhealth’s PMI customers from the end of 2015.
Axa PPP Healthcare chief executive Keith Gibbs says: “We were presented with an opportunity to significantly increase the number of customers we serve in the UK. We are delighted that the CMA has concurred with us that this transaction will be good for customers and good for the market, and can now progress to completion of the deal and a successful and smooth transition for Simplyhealth’s PMI customers and employees.”