Jelf says the deal should be financed out of existing cashflow so it will not need to use funds raised through its flotation on Aim last month.
Managed Healthcare, which specialises in healthcare and private medical insurance, has a corporate client bank of about 70 clients.
Jelf Corporate Healthcare managing director Peter Elliott says: “I am delighted with the deal. The acquisition positions Jelf as the leading provider of corporate healthcare services across the regions in which we operate.”
The deal should be finalised by the end of this year.