Simplyhealth announces sale of pet health division
Simplyhealth has sold its pet health plan business to Premier Veterinary Group PLC.
Insurance firm Simplyhealth has announced the sale of its pet health division to Premier Veterinary Group PLC (PVG).
In a press release, Simplyhealth said the sale of 'The Animal Healthcare Company Ltd (AHC)' will enable the firm to focus on human healthcare.
Simplyhealth chief executive Romana Abdin, said: “We can all see how complex and fragile access to healthcare is in the UK. Through the current coronavirus pandemic, this is more evident than it ever has been and this sale will enable Simplyhealth to focus solely on everyday human healthcare, where we are seeing growing demand from our customers and where we feel we can truly make the biggest difference.”
Simplyhealth entered the pet health plan market in 2011 through the expansion of its dental capitation business model, Denplan. In 2015 it acquired AHC, and the business has since tripled in size to provide cover for more than one million pets.
Ms Abdin continued: “PVG is the best home for the next stage of our pet health plan business and we are confident that it will prosper under this new ownership. We are committed to the smoothest transition possible and will partner with PVG and support our independent vet practices and corporate clients throughout the process.”
Dominic Tonner, Chief Executive Officer of PVG, added: “I believe PVG will prove to be a great home for the customers of Simplyhealth by continuing to innovate and deliver a first-class customer experience, through our dedicated and passionate team as well as our industry-leading technology platform.
“This acquisition will further strengthen PVG and enable our dedicated team of people to develop and grow and in so doing facilitate clinics to deliver the very best in preventative pet healthcare, in its broadest sense, across the UK, Europe and USA.”
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