Healthcare insurer is on the lookout for more following Forester Health takeover
Birmingham-based BHSF is on the lookout for more companies to acquire of merge with after completing its second acquisition in the past six years.
The healthcare insurer is taking over Forester Health, a Kent-based company with 53,000 health cash plan and physiotherapy insurance policyholders, from the end of the year.
BHSF, with a total of 210,000 policies, will be expanding its operation by using surplus space at its Ladywood headquarters to take on at least seven new staff as well as two sales executive transfers from Forester Health.
It is predicted that the turnover of BHSF Group, the UK’s third largest not-for-profit healthcare insurer, will increase to £38 million in 2008 following the acquisition.
Peter Maskell, chief executive, said: “We continue to see ourselves as being more innovative than many in the industry and are actively looking for mergers or acquisitions with suitable businesses which can help us develop our services.
“The pressures on smaller not-for-profit companies increase as competition and regulation become more severe and because they lack the resource or scale to broaden their reach."
