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Standard Life Healthcare receives offer.
17.05.2010
On 11 May 2010 Discovery Holdings Limited ('Discovery') of South Africa agreed to acquire Standard Life Healthcare for £138m. Discovery plans to contribute the purchase to PruHealth, its UK joint venture with the Prudential.
Standard Life Healthcare is the UK's fourth largest private medical insurer, with an 8% market share and 490,000 members insured.
The actual transfer of ownership will proceed at the end of July 2010, subject to approval from the FSA and South African Reserve Bank (SARB).
We do not forsee any changes to customer terms and conditions in the short term and for those clients currently covered by Standard Life Healthcare, there will be no change to their contact, claims telephone numbers. However if any changes of terms occur in the medium or long term, we will advise those clients affected in the normal way.