Charles Taylor acquires medical assistance provider CEGA Group
Charles Taylor plc announced today that it has acquired CEGA Group (CEGA), a specialist provider of technical medical assistance and travel claims management services. The company said it believes the acquisition will enable it to offer new services to its clients and establish deeper relationships with global insurers. It has furthermore stated that the move will strengthen CEGA’s position in the UK market, as well as enabling it to realise its ambitions to grow in international markets.
Charles Taylor has reported that CEGA’s longstanding relationships with large, high-profile insurers, some of which are new to Charles Taylor, will offer the opportunity to cross-sell the Group’s other professional services. In addition, as Charles Taylor’s businesses and major clients regularly use medical assistance services, the Group believes it is well-positioned to support CEGA’s long-term growth.
CEGA has revealed that it will continue to be run by its current management team. The firm’s CEO Alistair Hardie will report to Charles Taylor’s Group CEO David Marock and will join the Group’s executive committee.
Charles Taylor believes that this transaction marks an important step forward in business strategy to grow by developing new professional services lines, which are closely-related to its core business, through targeted acquisitions. According to Charles Taylor, it forms part of the Group’s overall business strategy of delivering growth organically and through investments.
"The acquisition of CEGA opens another exciting chapter in the growth and development of Charles Taylor,” said Marock. “CEGA is one of the UK’s leading providers of travel assistance services and works closely with major insurers which form an important part of our client base. The acquisition will enable us to further deepen and develop these important relationships. The services of our two businesses are highly complementary and the acquisition adds to the wide range of technical insurance services offered by Charles Taylor. We can see significant opportunities for profitable joint-working.”
Hardie said: “I am delighted that CEGA has become a member of the Charles Taylor Group. CEGA has built a market-leading range of services including international assistance, medical transfers, claims management and pre-travel consultancy. As part of the Charles Taylor Group we will have access to resources, expertise and global networks to realise our ambitions to drive growth and develop new markets for our services, and importantly further improve the competitiveness of our core proposition for our existing insurer and corporate clients.”