2007
(05/09/2007) AXA to buy international employee well-being services company
Move signals AXA PPP healthcare's growth strategy in employee services market
AXA UK announced today that it has acquired 100% of the share capital of ICAS International Holdings Limited, a leading global provider of employee support and well-being services.
This move (subject to the necessary regulatory clearance) will enable AXA PPP healthcare, the UK’s second largest private medical insurer, to strengthen considerably its presence in the growing market for employee support and well-being services.
ICAS owns and operates businesses in the UK, Southern Africa and Spain, and has a network of providers and affiliates covering over thirty countries in six continents.
With 1.5 million employees covered by its services, ICAS has over 900 corporate clients – 50 of which are multinational. The company is a leading provider of human capital services such as employee support, well-being, crisis management, people development, absence management, stress management and occupational health services.
Keith Gibbs, chief executive of AXA PPP healthcare, said: "The arrival of ICAS, with its strong management team, significantly enhances our ability to help companies to manage the increasingly important areas of employee well-being, performance and productivity.
"It will enable us to improve and broaden our business with employers both in the UK and internationally."
Michael Reddy, founder & chairman of ICAS said: "This is a logical and tremendous step forward for ICAS, long anticipated. With AXA PPP healthcare ICAS now has the resources and infrastructure to move to another level of service delivery, and to exploit the full depth of intellectual capital amassed over the last 20 years for the benefit of customers."
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About AXA
AXA UK is a part of the AXA Group - a worldwide leader in financial protection. AXA’s operations are diverse geographically, with major operations in West Europe, North America and the Asia/Pacific area. IFRS revenues amounted to €79 billion for the full year 2006. The AXA ordinary share is listed and trades under the symbol AXA on the Paris Stock Exchange. The AXA American Depository Share is also listed on the NYSE under the ticker symbol AXA. Our previous company performance is not a guide to how we may perform in the future.
AXA PPP healthcare has been helping people to access healthcare since 1940. Today it forms the UK healthcare arm of AXA and serves around three million people, providing healthcare cover for individuals and employers of all sizes, funding for dental care (through its subsidiary company, Denplan) and health information, occupational health and employee support services.
About ICAS
ICAS (www.ICASworld.com), established in 1987, has grown into one of the world’s leading providers of employee support and well-being services.
ICAS owns and operates businesses in the UK, Southern Africa and Spain, and offers access to its network of providers and affiliates covering over thirty countries in six continents. Together they deliver services in English and local languages 24 hours a day, 365 days a year.
ICAS provides companies and organisations, across all industry sectors, with assistance and support on a broad range of behavioural and practical issues affecting an employee’s ability to perform their best at work. This includes assistance in managing stress, improving attendance and developing people.
ICAS leads the field in crisis management support and has unparalleled experience of dealing with critical incidents and large scale disasters throughout the world. By adhering to the same clinical and account management protocols in all offices, clients receive a consistent and highly professional standard of service from wherever in the world they make contact. This also allows organisations to benchmark employee performance indicators across multiple sites or borders, and act accordingly.
ICAS directly supports over 1.5 million employees in over 900 companies worldwide.