Sale by private equity firm Alchemy Partners
Private equity firm Alchemy Partners has sold UK-based InterGlobal to US health care firm Aetna.
InterGlobal has 65,000 policyholders in the Middle East, Asia, Africa and Europe, with groups including international schools, affinity groups and diplomatic staff.
Aetna has 500,000 policyholders globally.
Terms of the deal were not disclosed, although Aetna said they were “not material” and would not affect its financial results in 2014.
“The addition of InterGlobal to Aetna’s international business will expand our footprint in fast-growing geographies, increase our membership and enhance our international penetration with individual, small and mid-sized business customers,” said Aetna chairman, chief executive and president Mark T Bertolini.
Alchemy Partners bought InterGlobal for $60.7m (£37.6m) in 2007.
The sale is expected to complete in the first half of 2014.