Towergate Healthcare buys Origen's healthcare business

Towergate Healthcare has acquired independent financial advice company Origen's healthcare business for an undisclosed sum.

The deal will see Towergate picking up Origen's private medical insurance business and the two firms have agreed a 'strategic partnership' which will see Towergate providing healthcare services to clients of Origen.

Whilst the exact terms of the sale have been kept quiet, Origen did say that it believed the deal to sell to Towergate will provide an 'an enhanced service for clients.'

Origen's clients will now be able to access a far larger healthcare team, who can offer broader geographical coverage and knowledge. This will better suit the 'growing healthcare needs of employers and requirements of clients,' the firm said.

Stephen Greenstreet, managing director of Origen, said, “Having reviewed developments in the healthcare market, we concluded that the ongoing level of research, analysis and resource required for Origen to continue to deliver these services in-house was significant, and did not make sense for us or our clients.

“The longer term interests of our clients will be better served by establishing a strategic partnership with a specialist healthcare adviser. Working together we will continue to provide an excellent quality of service to clients,” he added.

Origen will keep certain responsibilities, including providing consultation on a range of issues - including critical illness cover, employee benefit and annuity broking - to clients.