Hong Kong/Miami--11 May--PRNewswire/InfoQuest
IPMI provider Now Health International (http://nowhealth-bestdoctors.com) today confirms that their investor, The Primary Group, subject to relevant approvals, has reached an agreement to acquire Best Doctors Insurance, a major medical insurance provider with distribution throughout Latin America, the Caribbean and Canada.
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The transaction will create a global top tier specialist IPMI proposition with complementary products, distribution and geographies as well as shared quality service principles. The pro-forma operation will span four continents, with 12 sales/service offices, 100,000+ members, 300+ staff and 5,000+ distribution partners.
Now Health is one of the fastest growing providers of IPMI solutions for Global Expatriates, High-Net-Worth individuals and Small to Medium Sized Enterprises across Asia, the Middle East and Europe. Now Health currently has no operations in the Americas. Just four years old and with more than 130 years of collective IPMI management experience, Now Health already have offices in the UK, Dubai, Hong Kong, Singapore, Shanghai and Beijing, with Jakarta and Abu Dhabi coming soon.
Bermuda based Best Doctors Insurance, with service centres in Miami, Guayaquil (Ecuador) and Toronto, is owned by Best Doctors Inc. (Boston, MA) whose core business focuses on utilizing innovative technologies to provide second medical opinion services - helping leading corporates and insurance companies procure the right diagnosis and the right treatment for their employees and members. Best Doctors Insurance has been a specialist major medical insurance provider for more than 20 years, catering predominately for High-Net-Worth individuals and Global Expatriates residing across Latin America, the Caribbean and Canada. Their members appreciate the ability to access a wide range of local and international healthcare facilities.
“This is a highly complementary transaction for Now Health International and ourinvestor Primary Group, as Best Doctors Insurance will fill a large void in our global emerging market strategy. Over time, as the respective operations converge to deliver increased scale and efficiency, our members, distributors and staff who will benefit most. We’re all very excited about the possibilities that this combined proposition will bring to the market.” said Martin Garcia, CEO, Now Health International.
Note to Editors:
What is International Private Medical Insurance (“IPMI”)
Originally a subset of the local private health insurance sector, IPMI has blossomed into its own niche segment with just a handful of providers able to provide PORTABLE, CROSS-BORDER, MEDICAL REIMBURSEMENT & EVACUATION solutions for globally mobile individuals and multi-national corporations. The ability to offer clients their choice of location, a wide range of quality medical providers and in/out/day-patient treatment alternatives as well as seamlessly handling of claims in multiple currencies, is fundamentally what sets IPMI apart from its local health insurance origins.
About Now Health International
One of the fastest growing specialist IPMI providers globally, Now Health started operations in January 2011 and already has offices in Hong Kong, Beijing, Shanghai, Singapore, Indonesia, the UK and Dubai. Now Health caters for Global Expatriates, HNW Individuals, SME’s and small Corporates. Now Health has members residing in more than 195 countries worldwide.
About Best Doctors Insurance
Established in the mid 1990’s, Best Doctors Insurance leveraged its origins as a specialist provider of 2nd medical opinion services to become one of the leading Latin America, The Caribbean and Canada focused international health insurance providers. BDIL primarily caters for the healthcare needs of Global Expatriates and HNW Individuals across the region.
About Best Doctors, Inc.
Founded in 1989 by Harvard Medical School physicians, Best Doctors works with the best five percent of doctors, ranked by impartial peer review, to help people get the right diagnosis and the right treatment. The global health solutions company, which has grown to over 30 million members worldwide, uses state of the art technology capabilities to deliver improved health outcomes while reducing costs.