Wed, 19 Aug 2020 | BUSINESS SALE
Healthcare company Simplyhealth is planning to sell its pet health plan business The Animal Healthcare Company as it continues its strategic realignment. Under chief executive Romana Abdin, Simplyhealth is looking to refocus on its core health and wellbeing services, including its dental business DenPlan.
Simplyhealth is expected to sell AHC to Premier Veterinary Group (PVG). It is thought that the deal, which is subject to regulatory approval, will be completed in November 2020. AHC has more than tripled in size since being acquired by Simplyhealth in 2015 and its health plans now cover over a million pets.
Romana Abdin said: “Selling our pet health plan business is the right decision for the business itself, for Simplyhealth and for our customers.”
“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.”
In its most recent accounts, to the year ended December 31 2018, AHC reported turnover of £3.9 million, up from £2.9 million the year earlier, with profit after tax at £2.1 million up from £1.5 million the year prior. The company’s current assets were valued at £6.7 million.
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