Enterprise Group achieves major milestone in 5 year plan moves to acquire Acacia Health Insurance

22nd Jun 2021 | Source: Enterprise Group

Enterprise Group PLC has signed an agreement to acquire Acacia Health Insurance (AHI), subject to regulatory approval. The acquisition of AHI once completed, will constitute the achievement of the last of the three main deliverables in plans the Group shared with its shareholders during the 2018 Rights Issue.

2018 Rights Issue

It would be recalled that as per the Company’s 5year strategic goal to deliver growth, Enterprise Group PLC raised capital of GHS219,720,000 through the rights issue for 3 key reasons:

Buy back shares in the Group’s subsidiaries
Enter the Nigerian market
Expand the Company’s presence in Ghana to include a Health Insurance offering to complete their “cradle to grave” mantra

The Group is delighted to confirm fulfilment of ALL of the above plans to shareholders as follows:

The planned increase in ownership of the subsidiaries was achieved in 2018, and the Group now holds a larger majority share in the Life (60%), General (75%) and Trustee (80%) companies (with Black Star holding the remainder).
Our wholly-owned subsidiary, Enterprise Life Nigeria, opened its doors to the Lagos public on 1^st March, 2021 to engage in Life Insurance business.
An agreement was signed last week to acquire a major player in the private health insurance sector, Acacia Health Insurance Limited, subject to regulatory approval.

The Management and Board of Enterprise Group PLC are grateful to shareholders for their support and pledge to continue to work assiduously to return long-term value for all stakeholders.

About AHI

Acacia Health Insurance is a Private Commercial Health Insurance Scheme established in 2012. The Company works with over 600 service providers across the country, covering over 30,687 lives.

Acacia’s premium-based health benefit offerings, comes in four different packages - Unicare Plan, Premiercare Plan, Supercare Plan and Supercare Plus plans. Each package is designed to cater for a specific category of business and level of employee. These options cover hospital consultations, surgeries, dental care, prescribed drugs and optical care among others.

Acacia also offers non-premium based Third Party Administered packages. In addition, Acacia also offers an international health insurance cover with benefits designed for business that operates only on the African markets or around the world.

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