Stourbridge healthcare group bought by northern rival

ANNUAL premium income at acquisitive private medical insurance company Chase Templeton has broken through £100m after the acquisition of a firm in the West Midlands.
 
Chase Templeton, which is backed by Manchester-based investor Palatine Private Equity has become a leading consolidator in the sector, has snapped up Stourbridge company Medins Healthcare.

The latest acquisition brings £1.5m in annual premium income to Chase Templeton, including around £250,000 generated by individual clients. It is the second deal to be announced this year by Chase Templeton.
 
As part of the deal Medins Healthcare’s managing director Andy Tomkins has created a new corporate vehicle, London Medical Brokers.

This will trade as an authorised representative for Chase Templeton focusing on developing new business growth.
 
Tomkins said: “After a successful 2014 we decided to sell to Chase Templeton in order not just to realise value but ensure our clients can benefit from the scale and expertise of a big national intermediary. 
 
“Chase Templeton share the same core values and approach to client management as we do so it was a good fit and we are delighted that they are to be the custodians of our clients in the coming years.”
 
Jeff Tate, Chase Templeton’s mergers and acquisitions director, said the acquisition supported the company’s strategic development.

“Whilst we do serve large national and multinational corporates the SME sector really is our sweet spot. We are investing both through acquisition and internal sales and marketing resource to grow presence in the sector.
 
“Medins Healthcare brings in not just a substantial slice of premium income but an exceptional client base, one that has been nurtured over many years by Andy and his team.”
 
Last year Chase Templeton completed 26 purchases but has signalled that in 2015 it expects to complete fewer but bigger deals.
 
Law firm Shoosmiths’ Manchester office advised Chase Templeton on the latest transaction.

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