Private health insurance market has trembled…?
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polski
The insurance sector in Poland is undergoing consolidation, which highlights the division between giants and small companies. Now, a company from outside the sector has invested in the shares of one of the players on the private health insurance market in Poland. This involves the purchase of shares in TU Zdrowie by the Neuca group.
Activity of TU Zdrowie so far
TU Zdrowie operates exclusively in the field of private health insurance. The company, 100% owned by Pomerania Investment SA, has been operating in the Polish market for over 10 years. Its strategic product is the Health Insurance Policy. The medical benefits offered by TU Zdrowie are primarily outpatient benefits, while inpatient benefits include mainly planned surgical procedures.
In May 2020, the company introduced the TeleRefund Policy. Under the product, it is possible to provide benefits through two channels: the telemedical channel (e-consultations) and the reimbursement channel (e-requests), i.e. reimbursement of the costs incurred for a medical service provided independently in any medical facility across the country.
Neuca broadens its horizons
As part of the transaction, Neuca Group will become the owner of a controlling stake, i.e. 50.2% in Pomerania Investment SA, while becoming the main shareholder of TU Zdrowie SA. The agreement is conditional, as it still requires the approval of the President of the Office of Competition and Consumer Protection (UOKiK) and a decision of the Polish Financial Supervision Authority (KNF). The final date for the conclusion of the promised agreements has been set for 30 September 2021. Neuca, after the acquisition, intends to strengthen its offer for B2B and insurance partners. However, the company stressed in its announcement that TU Zdrowie remains “a specialist health insurer operating independently in the market”.
It is worth recalling that Neuca Group operates in several areas of the healthcare market, however, health insurance is a new segment for the company. To date, Neuca Group’s activities have included the wholesale of pharmaceuticals, the production of drugs and dietary supplements under its own brands (Synoptis Pharma), the operation of a network of clinical trial centres as well as the management of a network of several dozen outpatient clinics under the Swiat Zdrowia brand.
According to PMR:
Neuca group is well known for executing numerous transactions and building competitive advantage – for example in the area of clinical trials, as we have already written on many occasions. Therefore, the emergence of a new investor on the Polish private health insurance market may somewhat revive the activities of other players. However, we should not expect a revolution. We should remember that there are several players with an established position on our market. What is more, the COVID-19 pandemic has also made insurance companies interested in the segment, so far absent or present to a very limited extent in the health insurance segment, which has resulted in the expansion of the product offer, especially when it comes to insurance offering telemedicine benefits.
