24th Aug 2010 07:00
24 August 2010
CAPITA ACQUIRES NATIONAL DENTAL PLAN
The Capita Group Plc (`Capita') announced today that it has acquired the National Dental Plan group of companies ("NDP") for a cash consideration of £30 million on a cash-free, debt-free basis.
NDP is one of the largest providers of corporate dental plans in the UK. It operates some of the biggest dental insurance schemes in the country; designing, distributing, arranging underwriting for and administering dental insurance policies to more than 300 clients, representing 120,000 underlying insured members. Customers include Lloyds Banking Group, HSBC and BT.
NDP made a consolidated operating profit for its financial year to 31 March 2010 of £4.1 million on turnover of £13.4 million.
Commenting on the deal, Paul Pindar, Chief Executive of The Capita Group Plc said: "The acquisition adds further capabilities to Capita's specialist insurance services business, extending its range of tailored insurance services, including employee benefits schemes, to both private and public sectors. "
NDP has circa 20 staff, all based in London.
-ends- For further information:The Capita Group PlcTel: 020 7799 1525Paul Pindar, Chief ExecutiveShona Nichols, Corporate Communications Director Media enquiries:Capita press officeCaroline MooneyTel: 0207 654 2152 or 020 7654 2399 (out of hours)
Notes to editors
Capita Insurance Services is the UK's leading provider of business support services to the insurance industry offering professional services, operational solutions and strategic partnerships for insurers, brokers, affinities, corporates, government and the London market. The company is an FSA authorised representative and supports the complete insurance lifecycle from claims reception and policy administration, to specialist services including legal services, medical evidence services, complex loss adjusting, supply chain management and the delivery of fully-managed operational solutions both onshore and offshore. Ranked No.1* for customer service in the Insurance Services market in three consecutive years, Capita Insurance Services administers in excess of £12bn insurers' liability and employs more than 4,400 staff across an integrated network of UK business centres. www.capitainsuranceservices.co.uk
The Capita Group Plc is the UK's leading provider of BPO and integrated professional support service solutions. With 36,000 people at more than 300 sites, including 59 business centres across the UK, Ireland, the Channel Islands and India, the Group uses its expertise, infrastructure and scale benefits to transform its clients' services, driving down costs and adding value. Capita is quoted on the London Stock Exchange (CPI.L), and is a constituent of the FTSE100 with revenues for 2009 of £2,687 million. Further information on The Capita Group Plc can be found at: http://www.capita.co.uk
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