Bupa buys Turkish health insurer Acibadem Sigorta

Healthcare company Bupa has completed the acquisition of Acıbadem Sigorta, Turkey's second-largest health insurer, it announced on Friday.

The not-for-profit firm described Acıbadem Sigorta as a specialist health insurance provider with both corporate and individual customers.

Headquartered in Istanbul, it had more than 500 employees and covered 600,000 people.

In 2017, Acıbadem Sigorta generated gross written premiums of TRY 913m (£131.78m).

“We are delighted to announce that Bupa's acquisition of Acıbadem Sigorta is now complete,” said Bupa International Markets chief executive officer Simeon Preston.

“Bupa will benefit from Acıbadem Sigorta's local market knowledge, and their customers and employees will benefit from the strength of our expertise and experience.

“We look forward to welcoming Acıbadem Sigorta into the Bupa family.”

Gökhan Gürcan, chief executive of Acıbadem Sigorta, added that the firm was “delighted” to join Bupa.

“Together we will build on Acibadem Sigorta's successes from the last 26 years and support the continued development of the Turkish health insurance market,” Gürcan said.