The Private Health Partnership Ltd (PHP), part of Skipton Building Society group, has acquired a 75% shareholding in the care advisory service company, RED ARC Assured (RED ARC).
RED ARC provides care, advice and patient centric help to people with serious illness or disability.
The company has developed a range of services that ‘stand-alone' or are included within selected ‘insurance products', typically in the life, health, and protection sectors.
Jan Lawson, managing director of PHP said: “We have known RED ARC since its inception and followed its progress closely.
“This business is very complementary to our own, especially having the same ethos, and we can see excellent cross selling opportunities for the benefit of both organisations.
"Being in a unique position means RED ARC has no real competitors which is also extremely attractive.”
RED ARC will be a subsidiary of PHP and will retain its own separate brand identity.
Jan Lawson becomes Chairman of RED ARC and Richard Thomas remains as managing director.
PHP said it will continue to look at further acquisition opportunities and remains interested in talking to other businesses with medical insurance portfolios who may be considering a sale, including from those intermediaries looking to retire.