Advancing its strategy to penetrate more deeply into local healthcare markets, U.S.-based healthcare insurance giant Aetna has announced acquisition of the Bupa Group's Bupa Thailand for an undisclosed sales price. According to a company spokesperson, the acquisition is expected to significantly increase Aetna's presence in Asia.Aetna's expertise, coupled with Bupa Thailand's in-depth knowledge of the local healthcare system and culture, will ultimately offer customers in Thailand broader choice and continue to build on Bupa Thailand's first-rate service, the company.
"This is a significant and exciting expansion for Aetna in Asia, and clearly demonstrates our commitment to investment and growth in the region and globally," said Richard di Benedetto, president of Aetna International.
"Thailand is an important market for us, with increasing local wealth driving greater adoption of health insurance. Aetna's wide product portfolio, together with an excellent talent and knowledge base transferring from Bupa, will put us in a very strong position in the local market," he added.
Bupa Thailand, which was established more than 30 years ago, is the Kingdom's leading specialist health insurer, with more than 300,000 members and a network of over 400 healthcare providers around the country.
Bupa Thailand will continue to operate under the Bupa brand for a short time, before rebranding as Aetna.
Aetna International serves more than 700,000 members worldwide, including expatriates, local nationals and business travelers.
UK-based Bupa Group employs over 86,000 people, principally in the UK, Australia, Spain, Hong Kong, Poland, New Zealand, Chile, Brazil, China, Saudi Arabia, India and the U.S.