Bupa completes 4% stake increase in Bupa Arabia

31 August 2020 . United Kingdom

Bupa, the international health insurer and provider, today announced it has completed the further increase of its stake in Bupa Arabia by 4% to 43.25% by acquiring a portion of Nazer Group’s stake in the company.

Regulatory approvals have been granted by the relevant Kingdom of Saudi Arabia (KSA) authorities.

The KSA is a market with rising customer demand for high quality healthcare funded by private health insurance, and Bupa has incrementally increased its shareholding of this successful business over recent years. The increase in Bupa’s shareholding is in line with Bupa’s strategy of investing to strengthen its existing market positions to deliver sustainable growth.

Bupa announced its intention to increase its stake in Bupa Arabia in June 2020.


Notes to editor

  • Bupa has been incrementally increasing its shareholding over recent years with similar investments made in 2017 and 2018.
  • Together, Bupa and Nazer Group will continue to hold over 50% of the shares in Bupa Arabia, although continue to act independently of each other. The remainder of the shares in Bupa Arabia are publicly traded.
  • The agreed price of SAR 105 per share (SAR 504m, approximately £103m) reflects the continuing long-term growth prospects of Bupa Arabia.

About Bupa Arabia

  • Bupa Arabia is the leading health insurance provider in the KSA and has grown its customers, revenue and profit over the last 10 years.
  • Bupa Arabia has established one of the widest healthcare provider networks in the KSA for health insurance customers, providing them with access to an extensive network of clinics or hospitals in the region. It provides a highly differentiated service model, as well as the most comprehensive healthcare offering in the KSA health insurance market. For more information, visit www.bupa.com.sa
  • As a result of a partnership entered into between Bupa and Nazer Group in 1997, Bupa Arabia was listed on the Saudi stock market (Tadawul), in the KSA in 2008.

About Nazer Group

Nazer Group was founded in 1991 to invest in a diverse range of entrepreneurial opportunities in Saudi Arabia. It has controlling interests in various subsidiaries, joint ventures and other investments – including a strong portfolio of healthcare businesses with world-class quality healthcare partners.

Enquiries

Media

Rupert Gowrley (Corporate Affairs): rupert.gowrley@bupa.com

Investors

Gareth Evans (Treasury): garethevans@bupa.com

About Bupa

Bupa's purpose is helping people live longer, healthier, happier lives. With no shareholders, our customers are our focus. We reinvest profits into providing more and better healthcare for the benefit of current and future customers.

Health insurance accounts for the major part of our business with 18m customers and contributes 74% of revenue. We operate clinics, dental centres and hospitals in some markets. We run aged care businesses in the UK, Australia, New Zealand and Spain.

We directly employ around 83,000 people, principally in the UK, Australia, Spain, Chile, Poland, New Zealand, Hong Kong, Turkey, Brazil, the US, Middle East and Ireland. We also have associate businesses in Saudi Arabia and India.

For more information, visit www.bupa.com.

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