APRIL International is reportedly in advanced talks to acquire some or all of the operations of fellow international private medical insurance (IPMI) provider Now Health International, according to information obtained by Health & Protection.

Industry sources suggest that the transaction may involve a substantial portion of Now Health International’s client portfolio, rather than a full acquisition of the business. However, this remains unconfirmed. Both APRIL International and Now Health International declined to comment when approached by Health & Protection.

As of the end of 2023, APRIL International served approximately 150,000 members, per Health & Protection’s annual IPMI market report. Now Health International, meanwhile, was last reported in 2022 to cover around 25,000 members.

Strategic expansion in IPMI

Should the deal proceed, it would represent a significant step in APRIL International’s four-year strategy to scale its international health insurance operations, both organically and through acquisitions. This initiative follows APRIL Group’s acquisition by global investment firm KKR in April 2023.

Speaking to Health & Protection in October 2023, APRIL Group CEO Eric Maumy confirmed the company’s ambitions to double its IPMI footprint within four years, underpinned by a €1.5–€2 billion investment pool earmarked for strategic acquisitions, a portion of which is allocated specifically to its international health division.

The Group demonstrated its acquisition appetite shortly after that announcement by acquiring Belgium-based IPMI provider Expat & Co.

APRIL Group recently reported a 7% year-on-year increase in international healthcare revenue, reaching €90 million (£77.8 million) in 2024.

Now Health International, backed by Bermuda-based investor Primary Group (which also acquired Best Doctors Insurance in 2015), maintains a strong presence across key IPMI markets, with offices in the UK, Malta, Spain, the United Arab Emirates, China, Hong Kong, Singapore, and Indonesia.

The ITIJ team recently spoke with European providers about how a focus on customisation, digital transformation, prevention, and wellbeing is helping to meet expat needs and drive insurer success.