RNS Number : 7735A
British Utd Provident Assoc (BUPA)
24 February 2014
24 February 2014
Bupa completes acquisition of Cruz Blanca Salud, Chile
Bupa has successfully completed the acquisition of Cruz Blanca Salud in Chile, following a tender offer launched in January. Bupa has acquired 56% of the company's shares for 525 Chilean Pesos (57p) per share, which equates to a purchase price of approximately £205 million.
Stuart Fletcher, CEO of Bupa, said: "This transaction marks Bupa's entry into Chile, one of the most attractive healthcare markets in Latin America. It is a significant step for Bupa on our journey to be a healthcare partner to millions more people around the world."
Cruz Blanca Salud is one of the strongest health groups in Chile and is both an insurer and a healthcare provider. The company has around 340,000 health insurance policyholders (640,000 health insurance customers), equivalent to a 21% market share. It is the second largest in the private healthcare market in Chile by turnover. The company is also Chile's leading provider of private outpatient services. It has 27 clinics (outpatient and diagnostic), three hospitals (a total of 366 beds, of which 80 are for critical care), and is building a fourth in Santiago. It also has Chile's largest clinical laboratory.
For more information, please contact:
Simon Kutner, Head of Media and Corporate Communications, Bupa
+44 (0)207 656 2239
+44 (0)7860 703 996
Notes to Editors
· A photograph of Stuart Fletcher is available.
· Media factsheets on Bupa are available at www.bupa.com/business-and-investors/about-us
Bupa's purpose is longer, healthier, happier lives.
A leading international healthcare group, we serve over 14m customers in more than 190 countries. We offer personal and company-financed health insurance and medical subscription products, run hospitals, provide workplace health services, home healthcare, health assessments and chronic disease management services. We are also a major international provider of nursing and residential care for elderly people.
With no shareholders, we invest our profits to provide more and better healthcare and fulfil our purpose.
Bupa employs more than 62,000 people, principally in the UK, Australia, Spain, Poland, New Zealand and the USA, as well as Saudi Arabia, Hong Kong, India, Thailand, China and across Latin America.
We began operations in 1947 in the UK when 17 provident associations joined together to form Bupa with the purpose of "preventing, relieving and curing sickness and ill health of every kind". Our history goes back even earlier in Australia where our business was founded in the 1930s to provide a solution to people who could not afford doctors' fees.
Our services include health insurance and other funding products, hospitals and primary care centres, chronic disease management, home healthcare, dental centres, prevention and workplace health, and care services, including residential and nursing homes and retirement villages.
For more information, visit www.bupa.com
BUPA 1025Z LN
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