Bupa
 |
|
| Company limited by guarantee | |
| Industry | Healthcare |
| Founded | 1947 |
| Headquarters | London, United Kingdom |
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Key people
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Evelyn Bourke, CEO |
| Products | health insurance, care homes, health at work services, hospitals, dental clinics, health assessments |
| Revenue |
 £9.8 billion GBP (2014) |
|
£637.8 million GBP (2014) |
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Number of employees
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84,000 (2016) |
| Website | www |
Bupa (pronounced /buːpə/) is an international healthcare group, with its origins and headquarters in the United Kingdom but now serving 32 million customers in 190 countries. It is a not-for-profit private healthcare company, as opposed to the UK's National Health Service (NHS), which is a tax-funded healthcare system.
Bupa (originally, the British United Provident Association) was established in 1947 when seventeen British provident associations joined together to provide healthcare for the general public. The firm is a private company limited by guarantee; it has no shareholders, and any profits (after tax) are reinvested in the business. The service offered by Bupa began as private medical insurance, offering policies to individuals, companies and other organisations, and eventually expanded to include privately-run Bupa hospitals.
In 2007, the company announced the sale of its UK hospitals to Spire Healthcare. However, during 2008, the firm acquired the London-based Cromwell Hospital flagship hospital to provide healthcare to its members and other private patients including medical tourists from outside the UK.
Approval was given in the same year for a merger between Bupa's Australian arm (which until then comprised HBA and Mutual Community) and insurance group MBF. The merger created what is now Australia's largest private health insurance group, with 3.98m lives covered. On 1 December 2008, Clinovia's name was changed to Bupa Home Healthcare. In October 2010 the firm sold Bupa Health Assurance to Resolution Limited, and it has been rebranded as part of Friends Life. In the end of 2012 Bupa acquired the largest private healthcare network in Poland, Lux Med, from the private equity fund Mid Europa Partners for €400m. In February 2015 Bupa acquired a controlling share in Chilean private healthcare network Cruz Blanca, which has a 21% share in the local market. It emerged in January 2016 that the company was to sell its domiciliary care business, which provided care to around 35,500 people, to Celesio AG.
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Wikipedia