Johnson Fry, the financial services group has vehemently denied reports published in the Mail on Sunday
that its health insurance subsidiary, Healthsave is up for sale.
Executive chairman of the Johnson Fry group, David Megginson said: “There is absolutely no truth in these rumours. We have not been approached by any buyers, we are not in discussions with any company regarding a sale and we are definitely not in negotiations with a Lloyd’s broker.”
The report in the Mail on Sunday suggested that insurers were `lining up’ to buy Healthsave, and named Lloyds insurance brokers Ballantyne McKean & Sullivan as a potential buyer.
Megginson said: “We had to send an internal statement to our staff reassuring them that we were not selling Healthsave and that jobs were safe.” But he added: “With the recent take-over of PPP by Guardian it is not surprising that the market is rife with speculation about mergers and acquisitions. The PMI market is in the public eye and some composites are looking to move into this sector.”
Megginson said that, given Healthsave’s “successful growth” over the past few years, it was not surprising that the company is seen as “an interesting target”. But added: “That is a long way from what was reported.”
As part of a public limited company, Megginson said that if Healthsave was ever sold or involved in a merger there would be a public announcement to the stock exchange. “There is no way we would leak the story to a tabloid newspaper,” he said.
Megginson dismissed the report as “an attempt to fill space”.