PCH Completes Acquisition Of Amba Care and Wellbeing

FULL NEWS RELEASE: GRP-owned PCH completes third acquisition with deal to buy Amba Care and Wellbeing

GRP-owned Premier Choice Healthcare (PCH) has continued to build its presence in the UK healthcare sector with the acquisition of the business and assets of Amba Care and Wellbeing (Amba C&W).

Amba C&W is part of the Amba People Group, a technology business that provides clients with an eco-friendly, ethical employee benefits platform. PCH is acquiring the assets of the broking division, based in Bristol, which distributes Employee Benefits, including healthcare insurance, group life and group income protection to corporate clients.

Stephen Hough, MD at PCH said the deal was the third for PCH since the business was acquired by GRP in June 2020. “Since day one GRP has encouraged our twin growth strategy of organic and inorganic business growth.”

“Our brief at PCH has been to mirror GRP’s acquisition strategy in UK retail commercial broking, at the same time delivering organic growth for our healthcare proposition through GRP’s retail broking portfolio.”

“We remain keen on making further acquisitions where broking businesses fit our deal criteria and are on the look-out for vendors seeking to crystallise value from their life’s work, or who want to be part of a fast growth, entrepreneurial business.”

He added: “This is an excellent opportunity to buy the assets of a high-quality business.”

Stephen said Amba C&W staff will continue to be based in Bristol and will transfer to PCH. Team leader Paul Dunsford will continue to manage the business and will become a divisional head within PCH, reporting to Darren Perkins, PCH Sales Director.

Commenting on the acquisition, Tobin Murphy-Coles, CEO of Amba People Group, said: “PCH is the right home for our people at Amba C&W and I’m confident Stephen Hough and his team will be excellent custodians for the business. Amba C&W has a bright future under PCH and the wider GRP umbrella.”

Tobin said the structure of the deal means that there is no break in service for Amba C&W clients. The team is the same. The location is the same. Clients will also now benefit from PCH’s scale.

He added: “The deal allows Amba People Group to focus solely on the development and distribution of its Lumina platforms. With that in mind, I am also delighted that PCH has agreed to become a key distribution partner of Lumina.”

The deal does not require regulatory approval, and the consideration is undisclosed.

About Premier Choice Healthcare

PCH is a specialist healthcare intermediary providing a full suite of health insurance, group risk and protection products, including private medical, dental, income replacement, business protection and term assurance, to SMEs and individuals.

The company, founded in 1996, has built a strong reputation in the healthcare marketplace and now controls around £70m of GWP. It is based in Paulerspury, Northants, and has 36 employees.

In June 2020 it was acquired by GRP as the Group’s healthcare hub.

About Global Risk Partners

GRP was founded in 2013 and has grown rapidly to become one of the UK’s leading independent insurance intermediaries with Gross Written Premium in excess of £800m and more than 1,800 employees.

GRP operates retail broking, specialist MGA and Lloyd’s businesses, enabling the Group to serve the growing insurance and risk management needs of its clients. The group acquires businesses, teams and portfolios that have niche, non-commoditised, specialty propositions and strong profitability.

In June 2020, Searchlight Capital Partners, a global private investment firm, acquired a majority stake in GRP.

For more information please contact: Louise Zucchi 07399 477535

About Amba People Group

Amba People Group’s purpose is to empower employers to nurture their employees. Through Lumina, employers can offer employee benefits that do good – for people and planet. Gen Z and Millennial employees make up more than 50% of the workforce and their employer needs to match their values in order to attract and retain top talent. Lumina can include a range of benefits, from Net Zero pensions and carbon offsetting to electric cars and on-demand counselling.

For more information contact Emily Larrad: emily.larrad@amba-uk.com