Bupa Completes 8% Stake Increase In Bupa Arabia

14 June 2017
Bupa environment

Bupa today announced it has completed its agreement to increase its stake in Bupa Arabia by 8% from 26.25% to 34.25% by acquiring a portion of Nazer Group’s[1] stake in the company.

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

The increase in Bupa’s stake will strengthen Bupa’s presence in the KSA, in line with its strategy of investing in its market position in geographies in which it already operates. It is recognition of the opportunity to develop the private health insurance market in the KSA, which the government called out as a key growth sector and important pillar in its Saudi Vision 2030 Strategy.

Bupa had announced its intention to increase its stake in Bupa Arabia in early May 2017.

[1] The agreement is on the acquisition of a portion ASAS’, a Nazer Group Company, stake in Bupa Arabia

Notes to editor

  • Since 1997, Bupa and Nazer Group have developed a long and successful partnership. In 2008 Bupa Arabia was listed on the Saudi stock market (Tadawul) in the KSA and Bupa Arabia is now one of the largest health insurance providers in the KSA, with over 3m customers and has delivered significant growth in revenue, profit and customer numbers over the last 10 years.
  • Between the parties, Bupa and Nazer Group will together continue to account for over 50% of the shares in Bupa Arabia and the agreed price of SAR 143 per share (approximately £190m) reflects the partners’ confidence in the strong future prospects of Bupa Arabia.
  • Bupa Arabia has one of the widest healthcare networks in the KSA with over 320 clinics or hospitals in the region. Bupa Arabia’s share price has risen strongly since the 2008 IPO. 

For more information please contact:

Samantha Lo Blanco, Senior Corporate Communications Manager
+44 7701 280645 / samantha.loblanco@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.

We have 15.5m health insurance customers, provide healthcare to over 14.5m people in our clinics and hospitals, and look after over 22,000 aged care residents.

We employ over 78,000 people, principally in the UK, Australia, Spain, Poland, Chile, New Zealand, Hong Kong, the USA, Brazil, the Middle East and Ireland. We also have associate businesses in Saudi Arabia and India.

Health insurance is around 70% of our business. In a number of countries, we also run clinics, dental centres, hospitals and care homes and villages.

For more information, visit www.bupa.com.

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