Willis Employee Benefits, provider of global risk advisory, re/insurance broking, and human capital and benefits, has acquired PMI Health Group.
The deal aims to increase Willis’ presence in the UK employee benefits and healthcare market, and expand its product offering and skills base.
Through the acquisition, Willis Employee Benefits (pictured) will be able to draw in on the client-facing infrastructure and marketing experience of PMI Health Group, while existing clients at both businesses will benefit from access to a wider range of services and products.
After the deal’s completion, PMI Heath Group will use the Willis brand and maintain its operations at its current base in Wincham, Cheshire.
The transaction is subject to regulatory approval and is expected to close in the third quarter of 2015. The terms of the transaction were not disclosed.
Tony Powis, chief executive officer of Willis Employee Benefits, said: “PMI Health Group is a leading healthcare adviser, with great people and a proven track record. This is a pivotal and exciting time for both businesses.
“Our combined team will provide the scale, technology and expertise to deliver innovative and compelling value propositions. Organisations of all sizes are struggling to manage their employee risks such as absenteeism and presenteeism, and we are determined to shake this market up through innovative propositions.”
Matthew Baldwin, chief executive officer of PMI Health Group, added: “Joining with Willis will bring significant strategic opportunities and enable the PMI Health Group team and proposition to be an integral part of a growing, exciting and international business to service our clients.”