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HSA and Leeds Hospital Fund to merge

Healthcare cash plan providers HSA and Leeds Hospital Fund are merging to form a combined operation controlling 45 per cent of the sector.

HSA has 37 per cent of the cash plan market, primarily in London and the South-east, while LHF has a strong brand presence in the North, with about 7 per cent share.

Despite their different sizes, an HSA spokeswoman says the deal is definitely a merger rather than a takeover.

Both companies will continue as separate operations, with LHF chairman Terry Hardy becoming a non-executive director of HSA. There is also a new local board of LHF, chaired by Hardy, made up of five previous directors of LHF, four senior staff from LHF and three HSA directors.

HSA chief executive Des Benjamin says: “Both LHF and HSA have very similar cultures and I am convinced we will bring something very special to the sector.

“We see the future of healthcare cash plans as being very bright. They are affordable and appeal to a far wider audience than PMI.”

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