Switch Health Ltd, located in Cheltenham, has been sold to a Corporate Buyer, in a deal facilitated by Altius Corporate Finance.
Switch Health Ltd is a UK-based health insurance broker, renowned in its field with an attractive clientele book. The business offers a platform for comparing private medical insurance quotes from leading insurers such as BUPA, AXA PPP, and Saga. Additionally, they boast an impressive customer retention rate. Their services are designed to help individuals and businesses find health insurance policies that fit their needs and budget. Switch Health decided to sell to help the company expand further, as part of a group. One of the key requirements, therefore, was to find a buyer that would continue the growth of the business.
Altius Corporate Finance (ACF) worked with Switch Health to find a buyer in the corporate group, Partners&. Partners& occupies a unique place in the Insurance Brokering market, having established itself over the last 4 years as a strong challenger to the brokering industry. They aim to change the market through their innovative business model, successfully combining strategic acquisitions and attracting the best talent in the UK market. The company combines traditional insurance brokering with modern technology to offer comprehensive risk management, employee benefits, and wealth management services.
With Altius Corporate Finances’ experienced management of the transaction, the process was made as seamless as possible, Altius Corporate Finance specialises in mergers and acquisitions (M&A) advisory services. They offer tailored solutions for both buy-side and sell-side clients, focusing on maximising business value and facilitating smooth transactions. Their operations span globally, ensuring broad market reach and expertise. Partners& intends to continue to invest in the Switch Health Team. This will enable the business to continue its phenomenal growth story, whilst being led under the dynamic leadership of the founding shareholder.
Switch Health Ltd are thrilled with the sale and the support received throughout the transaction.
Switch Health Ltd commented on the sale process:
“We were looking for a buyer that would invest in the future of the business and share the same vision. Out of all the global prospective purchasers we met with, the buyer was most aligned culturally and were very close by too.”
Additionally, the buyer was greatly appreciative of ACF’s support throughout the transaction. Partners& shared their appreciation for the succinct way the process was executed and expressed their eagerness to work with Altius Corporate Finance again.
Commercial Director at Partners& shared his thanks:
“Thank you for all your hard work over the last few months. I’ve really appreciated your help getting this over the line. Hope to work with you again.”
On behalf of Altius Corporate Finance, ACF Director Vickie Elson-Hood commented:
“It was a pleasure to have presented our client to the market just 6 months ago. The marketing campaign generated interest from across the globe, putting our client in the enviable position of choosing the right home for the business. The buyer and client have a very exciting future together as they continue on their acquisition strategy, striving for continued exceptional growth while changing the PMI brokering industry together.
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