05 June 2019

Carey Olsen advises AnaCap on acquisition of leading independent Danish private health insurance business

Lawyers from Carey Olsen's corporate team in Guernsey have advised AnaCap Financial Partners (AnaCap), the specialist European financial services private equity firm on its acquisition of a majority stake in SundhedsGruppen A/S (SundhedsGruppen), which consists of Dansk Sundhedssikring AS, an independent Danish private health insurance provider, and PrimaCare A/S a provider of healthcare networks.

SundhedsGruppen provides health insurance and claims management services to clients' employees and has built a market-leading technological infrastructure that also white labels to other providers in adjunct insurance areas.

The business currently provides insurance cover for approximately 250,000 individuals in Denmark, through a client list comprising several of the Nordics' largest blue-chip companies, having grown from a founder-backed start-up in 2012.

Following the acquisition of SundhedsGruppen, AnaCap will deploy its expertise in the insurance sector to support management's ambition to grow market share internationally, into the Nordics and wider geographical markets, as well as through additional insurance market channels. The growth of the business will be through organic expansion models as well as identifying attractive bolt-on acquisition opportunities.

The financial details for this arrangement were not disclosed.

The Carey Olsen team was led by partner Ben Morgan with assistance from senior associate Imogen Payne and associate Kristina Mikhaylova. The firm advised on all Guernsey elements of the transaction, as well as providing strategic input into the structuring of the deal.

Mr Morgan said: "We are delighted to have supported our long-standing client AnaCap on its latest acquisition of a business poised for international growth. We look forward to working with them again soon."