International Medical Group, a privately-held international private medical insurance business based in Indianapolis, Indiana, has acquired a UK-based international insurer, À La Carte Healthcare Ltd, otherwise known as ALC Health.
The purchase price and other details of the acquisition weren’t given.
ALC Health is described as having clients in more than 140 countries and according to its new owner, International Medical Group (IMG), provides “flexible and innovative international medical insurance plans to individuals, families and groups worldwide”.
IMG president and chief executive Todd Hancock, pictured right, said ALC Health was “a natural expansion fit as IMG continues to grow”, and that the acquisition would complement the company’s growth strategy by boosting its footprint in key markets in Europe and Asia.
He added that the acquisition wouldn’t affect the operations of either company. “It will be business as usual for employees, producers and clients.”
Founded in 1990
IMG was founded in 1990 in Indianapolis by Jeff Brougher, who had sold an earlier company he’d founded, the Brougher Insurance Group, to Sweden’s WASA Group the previous year. It began as a managing underwriter, marketing and administrative support provider, before going on to provide health, life, travel and indemnity insurance to the international market.
In addition to its Indianapolis headquarters, it also has offices in Ft Lauderdale, Florida; Redhill, England; and Cardiff, Wales.
Last year, it entered the United Arab Emirates market, with an office in Dubai and a new, local insurance regulations-compliant product, in partnership with RAK Insurance, designed for expatriates living in the Emirates.
For its part, ALC was founded in 2001 by Sarah Jewell, who is described as a former expatriate herself, and who, until the sale to IMG, remained ALC’s chief executive. She now joins IMG’s executive management team, as does ALC managing director Stephen Godbold.
Like the company’s founder, “many” of ALC Health’s employees are also former expatriates, the company says, which it notes is an advantage in helping them to deliver the services they do.