Simplyhealth announces takeover of Denplan

Simplyhealth has announced that it is to purchase the UK's leading dental plans provider Denplan for 115 million pounds.

The acquisition will see Simplyhealth take control of the business from current owner Axa UK, thus allowing it to further its strategic aim of gaining market presence in the healthcare insurance sector.

With more than 1.8 million customers across the UK, Denplan has a strong reputation among British dental professionals and is expected to report pre-tax profits of 14.1 million pounds for the current fiscal year.

Des Benjamin, chief executive officer of Simplyhealth, said the two companies' shared focus on customer service and staff engagement makes this a natural strategic fit.

"Our goal is to become an important, high quality part of the new health system as it emerges over the next few years. The acquisition of Denplan is an important step on this journey," he said.

This comes after Simplyhealth was named the best health-related insurer at this year's Personal Finance Awards, a consumer-voted industry awards show.