Private medical insurance consolidator Chase Templeton has secured its first deals of 2016 with the acquisition of Health Equity Solutions Ltd. and Caledonian Health Solutions.
The purchases bring a further £2.15m in annual premium income and nearly 370 predominantly SME clients to Chase Templeton's business.
Health Equity Solutions was the Preston-based corporate vehicle of health insurance adviser Paul Nugent who has left in order to pursue new clients.
Meanwhile, Kelso-based Caledonian Health Solution's owner Graham Coates has retired.
Nugent said: "The decision to sell Health Equity Solutions was very much driven by a belief that going forward a larger and more influential organisation could better serve clients within an increasingly competitive and regulated market. Because of the strong relationship we already enjoyed and the mutual trust and respect that fostered, Chase Templeton was a natural home."
The deals are the latest concluded under Chase Templeton's "buy and build" strategy which has seen it acquire well over 50 businesses and books since securing the backing of Palatine Private Equity in 2013
The company added some £40m in API in the last quarter (Oct-Dec 2015) alone following the purchases of Healthcare Partners, Atlas Consulting Group and Consilium Employee Benefits.
Jeff Tate, mergers and acquisitions director at Chase Templeton said: "This year will in very many ways echo 2015 as we look to seal a number of significant deals to consolidate our position as one of the leading players in the UK private medical insurance market, with an eye to becoming the biggest within the SME space." .
