A consortium of investors arranged by Impilo has entered an agreement to acquire Euro Accident Livförsäkring from National General Holdings Corp.
Euro Accident is a leading Swedish specialist in health-related insurance and employee wellbeing, active primarily within the long-term disability, pension risk and private health insurance. Euro Accident was founded in 1996 and has experienced strong growth over the past 15 years, enabled by high quality products and leading service that aim at keeping their clients as healthy as possible. Today more than half a million people in Sweden are insured through the company.
Impilo together with management and a group of other investors have agreed to acquire Euro Accident from the current owners National General Holdings Corp., a specialty personal lines insurance company listed on NASDAQ (NGHC). The transaction is subject to customary regulatory approvals and is expected to close late in 2019.
Impilo is an investment firm that focuses exclusively on the healthcare sector, primarily in the Nordic region. There is a clear ambition that the companies Impilo invest in should contribute to the development and improvement of the healthcare system they operate in and as such to the greater community. In this perspective, Euro Accident fits well with Impilo’s investment philosophy, as the company help corporations and organizations provide a strong safety net for their employees and members in times of illness and disability, and work with proactive measures to prevent clients from ending up in need of insurance support.
“There is a growing demand for healthcare-related insurance. We are impressed by how Euro Accident provides services to help clients get the right support at the right time, and how there is also a strong focus on preventive care, something that benefits society at large. The company has a very strong management team that has successfully grown the company by more than 20% p.a. over more than ten years to a leading health related insurance provider, and we look forward to working with them to continue to strengthen Euro Accident’s position and expand the business further”, says Fredrik Strömholm at Impilo.
”We are excited to start a new phase in Euro Accident’s development with a Nordic and long-term, healthcare-focussed group of owners. While we have seen significant growth in the past, we still see a lot of opportunities both in Sweden and the rest of Scandinavia“, says Thomas Petersson, CEO of Euro Accident since 2003.
For further information, please contact:
Fredrik Strömholm, Partner at Impilo AB
+46 76 115 10 65
Impilo is a Swedish investment company focused on long-term investments in healthcare companies active in pharmaceuticals, medical technology, healthcare services and other health-related areas. Impilo strives to increase value of its investments through long-term active ownership and aims to continuously generate returns for its stakeholders. Impilo has a portfolio of diversified investments and may hold an investment as long it deems it to be attractive (which may be for an indefinite period). Impilo's perspective is that the portfolio companies must contribute to a positive development in their fields and thus society in order to be successful long term. Impilo manages over SEK 3.5 billion in capital from leading Nordic and international investors. Larger investors include AP3 (The Third Swedish National Pension Fund), TryghedsGruppen and Goldman Sachs Asset Management. Learn more about Impilo at www.impilo.se.
About Euro Accident
Euro Accident is a leading specialist in health-related insurance and employee wellbeing. Euro Accident provide a comprehensive range of health insurance options and health services to Swedish companies to help them succeed with their health and work environment strategies.The customer base consists of ca. 300k insured individuals across c. 35k companies. The company currently employs c. 230 employees. Find more information at www.euroaccident.se