Bupa to acquire Turkish health insurer Acibadem Sigorta
International healthcare company Bupa has announced that it will acquire Turkey-based health insurer Acibadem Sigorta and therefore enter the Turkish health insurance market. Headquartered in Istanbul, Acibadem Sigorta is a specialist provider of health insurance services for the corporate and individual segments. It became the number one Turkish health insurer in corporate business and number two overall when, between 2013 to 2017, it increased its gross written premium market share from 12 to 18 per cent.
Bupa said it will benefit from Acibadem Sigorta’s local market knowledge and that its customers and, likewise, Acibadem Sigorta employees, will benefit from the strength of Bupa’s expertise and experience. “We’re delighted to announce Bupa’s agreement to acquire Acibadem Sigorta. Its impressive growth, first-class management team and customer focus make it an excellent choice for market entry,” said Simeon Preston, CEO of Bupa International Markets. “We have been watching the Turkish market for several years and we believe it offers excellent prospects for growth. We see this acquisition as a long-term strategic investment for us. Bupa and Acıbadem Sigorta have a shared commitment to putting customers first, and we look forward to welcoming the team into the Bupa family.”
Gökhan Gürcan, CEO of Acıbadem Sigorta, said that the health insurance provider is looking forward to becoming part of the Bupa family. “Together we have a shared commitment to helping our customers live longer, healthier, happier lives. Bupa has a strong record of developing and growing the businesses it acquires and has the resources and expertise to help us build on the successes of the past 26 years. Together we can support the continued development of the Turkish health insurance market.”