GlobalHealth provides a range of international group and individual insurance services in Singapore, Vietanam, and Shanghai in addition to its Hong Kong base and has a turnover of around €6m (£4.5m, $6.5m).
The April Group, which was founded in France over 35 years ago, said on Wednesday it planned to use the acquisition to extend its operations in Asia beyond its current activities in Thailand, China, and Singapore and significantly strengthen its market share in the region.
“This acquisition will strengthen our areas of expertise and extends our operations in Asia and is in line with our stated objective to become a leading international private medical insurance (IPMI) and assistance player outside France,” said Emmanuel Morandini, deputy chief executive of the April Group.
“With operations on every continent, April group is now ideally positioned to meet the increasingly complex requirements of individual and group clients, regardless of their country of origin, by offering solutions which are tailored to their local environment.”
In October 2015, April Group rebranded and relaunched UK-based MediCare International as APRIL International UK, a specialist designer and distributor of IPMI policies for groups and individuals.
The April Group has operations in 37 different countries, with around six million policyholders worldwide, consisting of some 86 different nationalities located in more than 120 countries.