engage Mutual has bought Provincial Hospital Services Association (PHSA), a not for profit healthcare provider specialising in health cash plans and private medical insurance, based in Bedford.
engage Mutual entered the health cash plan market in 2008 following an agreement of partnership with Wakefield & District Hospital's Contributory Scheme. The acquisition of PHSA, part of a strategy to consolidate its healthcare presence, will enhance economies of scale within the mutual's health cash plan business, and add 13,000 new customers.
Both engage Mutual and PHSA share ethical values and a commitment to customer service. PHSA was the first insurance company in the UK to receive the Ethics Mark in recognition of its fair business conduct.
Andrew Haigh of engage Mutual says, “The acquisition of PHSA is another milestone in our progress as a customer-owned business to increase our presence in the healthcare market, which is part of a larger long term strategy to offer a comprehensive range of simple, relevant products to assist families with their financial planning."