Simplyhealth Group has agreed to sell The Animal Healthcare Company Ltd (AHC) to Premier Veterinary Group Plc (PVG). The proposed transaction, which is subject to customary regulatory approvals, is expected to complete in November 2020.
The transaction will mean that Simplyhealth, based at Andover, will focus wholly on human healthcare.
Since 1872, Simplyhealth has helped people with all aspects of their healthcare, from providing five-year-olds with their first toothbrush, to supporting the elderly on their return home from hospital.
It entered the pet health plan market in 2011 through the expansion of its dental capitation business model (Denplan) and in 2015 it acquired AHC. The business has since trebled in size and today provides cover for more than one million pets.
The transaction will enable both Simplyhealth and AHC to become stronger businesses.
Romana Abdin, chief executive, Simplyhealth said: “Selling our pet health plan business is the right decision for the business itself, for Simplyhealth and for our customers.
“Since 1872, we’ve continually evolved, responding to changing market opportunities and the needs of our customers and their communities. We’ve done this, and will continue to do so, because we believe that no-one should go without the healthcare support they need.
“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.
“PVG is the best home for the next stage of our pet health plan business and we are confident that it will prosper under this new ownership. We are committed to the smoothest transition possible and will partner with PVG and support our independent vet practices and corporate clientsthroughout the process.”
Dominic Tonner, chief executive officer of PVG, added: “I believe PVG will prove to be a great home for the customers of Simplyhealth by continuing to innovate and deliver a first-class customer experience, through our dedicated and passionate team as well as our industry leading technology platform”
“This acquisition will further strengthen PVG and enable our dedicated team of people to develop and grow and in so doing facilitate clinics to deliver the very best in preventative pet healthcare, in its broadest sense, across UK, Europe and USA.”