Simplyhealth – the healthcare provider which sold its private medical insurance and healthcare trust business to AXA – has said it plans to sell The Animal Healthcare Company.
The move is the latest strategic realignment led by Chief Executive Romana Abdin as the organisation focuses more on its market-leading dental business Denplan and its other health and wellbeing services.
A Simplyhealth spokesman said that the transaction will mean that the organisation “will be able to focus wholly on human healthcare”.
He added: “This focus is in line with the company’s commitment of delivering against its purpose.”
Simplyhealth entered the pet health plan market acquired AHC in 2015. Since then, the business has since trebled in size and today provides cover for more than one million pets.
The spokesman added that the transaction “will enable both Simplyhealth and AHC to become stronger businesses”.
Simplyhealth boss Abdin added: “Selling our pet health plan business is the right decision for the business itself, for Simplyhealth and for our customers.
“Since 1872, we’ve continually evolved, responding to changing market opportunities and the needs of our customers and their communities.
“We’ve done this, and will continue to do so, because we believe that no-one should go without the healthcare support they need.
“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.”
She said that 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”.
Dominic Tonner, Chief Executive Officer of PVG, said: “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.”
The Simplyhealth spokesman said that a “small” proportion of the Simplyhealth workforce will be impacted by the deal and the company “will work with them to support them through the transition period”.
The proposed transaction, which is subject to customary regulatory approvals, is expected to complete in November 2020. Terms of the deal were not disclosed.