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Capita acquires Medicals Direct for £13.2m

Capita has acquired Medicals Direct for an initial sum of £13.2m, which could rise to £15.2m depending on performance.

MD, a provider of medical screening services, primarily to the life and pensions sector, acquired the medical support business of Capita Insurance Services in July 2009.

MD, which has around 180 employees across six offices, made an operating profit of £2.25m on a turnover of £18.6m for the year ending December 31, 2011.

Capita chief executive Paul Pindar says: “The acquisition adds new capabilities to Capita by, for example, allowing Capita to enter the home-based screening market.

“This investment works well with our existing portfolio of clinic and mobile unit screening services, aligns our health proposition with Capita’s existing life and pensions business and adds important new capability to large scale contracts we may be targeting in the wider private and public sectors.”

In July 2010, MD acquired outsourced insurance services firm Medibureau for an undisclosed sum. Medibureau arranges medicals and pathology testing for life insurers.

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Comments

There are 6 comments at the moment, we would love to hear your opinion too.

  1. Robert Johnsey 21st May 2012 at 2:27 pm

    If they monitor the screening as well as they have monitored investment funds then patients need to be very afraid

  2. graham pogson 21st May 2012 at 2:30 pm

    For me and many other long-standing IFA’s in the insurance marketplace, Medicals Direct has become a byword for inefficiency. They have a virtual monopoly within their sector and the insurance companies who use them appear to have long since accepted their unacceptable levels of service.

    Capita – please take note, don’t just squeeze their P&L each year – invest some of your professionalism and resources to improve their very poor service standards.

  3. Oh Dear,
    the kiss of death.

  4. Old Chinese proverb say
    ‘small fish no live long in belly of snapping turtle’.

  5. Graham, what professionalism and resources would that be?
    The professionalism they applied to monitoring investment funds such as Arch cru – or the resources they claim not to have, so they cannot compensate the investors they let down properly?

  6. David Parkinson 21st May 2012 at 5:29 pm

    Are these the same clowns who claimed that they have no more money for their Arch Cru mess? or was it their FSA old school pal who said that? Either way a disgrace

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