Axa UK has acquired ICAS International Holdings, a global provider of employee support and well-being services.
Axa says the move will help its healthcare division, Axa PPP, to strengthen its presence in the growing market for employee support and well-being services.
ICAS has over 900 corporate clients, 50 of which are multinational, and 1.5 million employees covered by its services. It owns and operates businesses in the UK, Southern Africa and Spain, and has a network of providers and affiliates in thirty countries.
The company specialises in human capital services such as employee support, well-being, crisis management, people development, absence management, stress management and occupational health services.
Axa PPP chief executive Keith Gibbs says: “The arrival of ICAS, with its strong management team, significantly enhances our ability to help companies to manage the increasingly important areas of employee well-being, performance and productivity.
“It will enable us to improve and broaden our business with employers both in the UK and internationally.”
ICAS founder and chairman Michael Reddy says: “This is a logical and tremendous step forward for ICAS, long anticipated. With Axa PPP healthcare ICAS now has the resources and infrastructure to move to another level of service delivery, and to exploit the full depth of intellectual capital amassed over the last 20 years for the benefit of customers.”