April International is set to purchase some or all of fellow international private medical insurance (IPMI) provider Now Health International’s business, Health & Protection understands.
Sources have told Health & Protection the deal may be for a significant part of the Now Health International client book rather than the whole business, though this has not been confirmed.
Health & Protection contacted both April International and Now Health International about the transaction but neither wished to comment.
At the end of 2023 April International reported 150,000 members in Health & Protection’s annual report of the IPMI market, while the latest data for Now Health International from 2022 showed it had 25,000 members.
Four-year growth goal
If completed the move would be another step in April International’s four-year plan to expand its business.
April International is part of the April Group and signalled its intentions to significantly grow organically and through acquisitions following a takeover by KKR Group in April 2023.
Speaking exclusively to Health & Protection in October 2023, April Group CEO Eric Maumy said the organisation was looking to double its international private medical insurance (IPMI) business in the next four years and expected to be active in acquiring other providers as well.
Maumy said there would be a share of April Group’s acquisitions pot of €1.5bn to €2bn (£1.29bn to £1.73bn) available to the IPMI business.
It signalled the start of this by purchasing Belgium-based IPMI provider Expat & Co later that month.
Last month the April Group announced that its international healthcare turnover had increased by 7% to €90m (£77.8m) in 2024.
Now Health International is owned by Bermuda-based investor The Primary Group which also purchased Best Doctors Insurance in 2015.
Now Health has offices in the UK, Malta, Spain, UAE, China, Hong Kong, Singapore and Indonesia.
