The deal marks Bupa’s entry into Poland, one of the most attractive markets in Central and Eastern Europe due to the size of its population, rising levels of disposable income and long-term growth potential. Spending on healthcare is increasing and the private healthcare market is forecast to grow by 10% per annum until 2016.
The acquisition of LUX MED makes Bupa the number one player in Poland’s private healthcare funding and provision markets, adding around 1.2m new customers to Bupa’s international portfolio. In healthcare funding, LUX MED is Poland’s market leader in medical subscriptions, a corporate product offering employees rapid access to out-patient services. In provision, LUX MED has a national network of out-patient clinics and diagnostic centres, four hospitals and a large nursing and residential care home in Warsaw.
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The acquisition also extends Bupa’s international expertise in integrated healthcare. LUX MED joins up its medical subscriptions service and healthcare provision businesses to deliver end-to-end care for customers. Bupabelieves there are significant advantages in integrating healthcare – bringing better oversight of the patient journey to help ensure that quality healthcare is delivered at an affordable cost. In Spain, Bupa already operates an integrated model between its insurance business and hospitals, out-patient clinics and dental centres.
Commenting on the acquisition, Stuart Fletcher, CEO of Bupa, said:
"Today’s acquisition marks an exciting step in Bupa’s story and is entirely consistent with our vision to change the pace of our growth and development – to reach millions more customers with new, exciting products in our existing and new markets.
"LUX MED provides us with the number one position in Poland’s growing private healthcare market and an excellent platform for growth as the market develops. Together, Bupa and LUX MED’s collective expertise in integrating and developing healthcare funding and provision services will fuel growth and innovation in the Polish healthcare market.
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By GlobalData"We are delighted to work with LUX MED’s management team to deliver high quality, accessible and affordable care to more people in Poland."
Anna Rulkiewicz will continue in her role as Chief Executive Officer of LUX MED, supported by her management team.
