Health insurance company entering health market

Thu, 04 Oct 2007

The British health insurance giant BUPA have taken a course of major investment in aged care assets throughout Australia and New Zealand . The company, which ploughs all profit back into itself, is set to purchase enormous aged care assets in the Antipodes from the private equity firm CVC Asia Pacific.

The chief executive of BUPA global business, Val Gooding, reportedly commented: "This acquisition will provide BUPA with an excellent opportunity for growth in the sector. With the existing management, BUPA will apply its extensive experience to develop further in these markets."

BUPA now has significant Australian operation, making it the third largest private medical insurer in the country. Whether further ambitions are planned remains to be seen, but BUPA are understood to be in talks with MBF Insurance Ltd, who are the second largest private health insurer in Australia.
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