Leading global healthcare benefits provider Aetna announced on Tuesday that it had acquired the Bupa Group’s Thai business, Bupa Thailand, for an undisclosed sum.
The acquisition will significantly increase US-based Aetna’s presence in Asia, and is key to the company’s strategy to go “broader and deeper” into local healthcare markets.
Aetna’s expertise, coupled with Bupa Thailand’s in-depth knowledge of the local healthcare system and culture, will ultimately offer customers in Thailand broader choice and continue to build on Bupa Thailand’s first-rate service, the company said.
“This is a significant and exciting expansion for Aetna in Asia, and clearly demonstrates our commitment to investment and growth in the region and globally,” said Richard di Benedetto, president of Aetna International.
“Thailand is an important market for us, with increasing local wealth driving greater adoption of health insurance. Aetna’s wide product portfolio, together with an excellent talent and knowledge base transferring from Bupa, will put us in a very strong position in the local market,” he added.
Bupa Thailand, which was established more than 30 years ago, is the Kingdom’s leading specialist health insurer, with more than 300,000 members and a network of over 400 healthcare providers around the country.
Bupa Thailand will continue to operate under the Bupa brand for a short time, before rebranding as Aetna.
Aetna International serves more than 700,000 members worldwide, including expatriates, local nationals and business travellers.
UK-based Bupa Group employs over 86,000 people, principally in the UK, Australia, Spain, Hong Kong, Poland, New Zealand, Chile, Brazil, China, Saudi Arabia, India and the US.