Firm to target new insurance clients
Merged firm to target new insurance clients
BY JONATHAN SWIFT, Post Magazine 21/02/08
PREMIER Medical and Medico-Legal Reporting have merged to create what both firms claim is the largest provider of medical opinion by taking 15% market share altogether.
Now known as Premier Medical Group, the merged operation is now seeking to expand from its core medical reporting background into new areas, such as rehabilitation, wellness and occupational health services.
New chief executive Jason Powell, founder of Bupa’s rehabilitation arm Recover, noted that these parts of the business currently contributed to 10% of turnover, but could rise to 30% to 40% in time.
He added: “The merger is a compelling investment bringing together two businesses recognised for the expertise and quality of service with minimal customer overlap.”
He said that while Premier Medical’s expertise was in employers’ and public liability arenas, his former firm MLR specialised in road traffic accidents.
Founder of Premier Medical and now chairman of the enlarged group Dr. Harry Brunjes noted that insurer feedback had been positive and three companies it did not currently work for and had already been in contact.
PMG plans to maintain its two sites in Ludlow and Pangbourne and now has a combined headcount of 210.
The merger was backed by Nomura Private Equity, which has taken an interest in the business along with the management. MLR was previously backed by 3I, which supported its management buyout in 2001, but along with MLR chief executive Martin Sanderson, will play no more part in the the new business.
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