Health Insurance Company sells their hospitals

Mon, 18 Jun 2007

The sale of 25 private UK hospitals by one of the top health insurance companies in the UK is complete. BUPA, the private medical insurance and healthcare provider, have sold their private hospital business to the private equity firm Cinven for a reputed £1.44 billion. BUPA will now focus on their health insurance business.

The chief executive of BUPA, Val Gooding, reportedly commented: "The separation of our hospitals from the insurance business will allow the two, as separate entities, to fulfil their potential and make a greater contribution to the UK healthcare economy. We are confident we will continue to enjoy a good relationship with the hospitals group under its new ownership."

BUPA will use the money transferred in the sale to pay down their debt, and invest further in the group. The company has a seriously powerful footing in the UK medical insurance market. Cinven, the buyer, have significant healthcare experience.
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