MMI Holdings (MMI), the Johannesburg listed life insurer, on Wednesday said it had acquired CareCross Health Group and Occupational Care South Africa (OCSA), for an undisclosed amount.
MMI said acquisition would be a perfect fit with some of its units such as the Metropolitan Health, the newly-acquired Guard Risk and Hello Doctor.
The acquisition also matches Metropolitan Health’s present product offering and improves its capacity to cut healthcare expenses.
Nicolaas Kruger, the CEO at MMI, said the purchase would support MMI’s competence to deliver all-inclusive answers to its current and soon-to-be customers.
“This transaction is also (in keeping) with MMI’s strategy to grow through diversification,” Kruger said.
Blum Khan, Metropolitan Health CEO, added that the acquisition lined up flawlessly with the firm’s plans for profitable growth.
CareCross, which was launched in 1998, has a national network of around 2 000 General Practitioners and 4 000 associated healthcare professionals.
Metropolitan Health supervises health benefits for 3 million beneficiaries.