Now Health International's investor, the Primary group, has reached an agreement to acquire Best Doctors Insurance to create a larger IPMI provider, subject to relevant approvals.
Best Doctors' second opinion service, available through many insurers, will continue to be offered following the deal, as it is owned by Best Doctors, Inc. the parent of Best Doctors Insurance.
The move expands Now Health's operations into the Americas. It already has offices in the UK, Dubai, Hong Kong, Singapore, Shanghai and Beijing.
Best Doctors has service centres in Miami, Guayaquil (Ecuador) and Toronto with Best Doctors Insurance based in Bermuda and Best Doctors Inc (the parent company) based in Boston Massachusetts.
The combined operation will have 12 sales/service offices, over 100,000 members and over 300 staff. Now Health has further office openings scheduled.
David Seligman, chairman and CEO, Best Doctors Inc. said, "The Best Doctors Insurance business has grown well beyond our hopes and expectations.
"We're very proud of what the team has achieved. I'm confident that Martin and the Now Health team share our commitment to delivering the highest quality customer experience.
"They appreciate the dedication and tireless efforts of their distribution partners and they invest in their technology and people to achieve great outcomes.
"Best Doctors looks forward to continuing to support the business with the ongoing provision of InterConsultation® service."
Martin Garcia, CEO, Now Health International, said: "This is a highly complementary transaction for Now Health International and our investor 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 will benefit most.
"We're all very excited about the possibilities that this combined proposition will bring to the market."
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