GE Healthcare completes acquisition of Finnamore to form leading UK specialist health and social care consultancy
MAXIS Global Benefits Network (GBN) was named the Captive Healthcare Specialist of the Year at the second UK Captive Service Awards. Organized by Captive Review, the UK Captive Services Awards, recognize excellence in the delivery and management of captive insurance. Being named the Captive Healthcare Specialist of the Year is an honor, and reflects MAXIS GBNs commitment to providing tailored solutions and world-class services that meet the business needs of our multinational customers, said Jim Peiffer, managing director, MAXIS GBN, and senior vice president, MetLife. By understanding and aligning our customers global and local priorities, we are able to help our customers manage their worldwide employee benefits programs through flexible and innovative solutions, including our industry-leading health and wellness programs. The UK Captive Services Awards recognize companies that have outperformed their peer group over the course of the past year. The awards are judged on the criteria of 1) company growth: client numbers, premium/assets under management, internal hires, geographic expansion; 2) client satisfaction; 3) genuine product innovation; and 4) adaptability: in the face of client demands and new regulation, etc. The judging panel consists of representatives from Captive Review, industry experts and corporate risk managers. “The Captive Healthcare Specialist Award is a prestigious one, as medical captives represent a thriving, fast growing sector of the captive industry. MAXIS GBN is not only a leader in the medical captive space, but goes the extra mile when it comes to data analysis and implementation of risk management initiatives that ultimately benefit the health of the insureds,” said Antony Ireland, acting editor, Captive Review. The award recognized MAXIS GBN for its leading healthcare management and wellness solutions. MAXIS GBN offers through its members, medical insurance and health and wellness capabilities in 85 markets with over four million insureds. With its customer-centric focus, MAXIS GBN delivers customer-specific analysis of medical claims, research insights on wellness, client discussion forums, and perspectives on local health and wellness solutions. Stock quotes in this article: MET
The acquisition will see GE Healthcare’s UK consultancy arm, formerly Performance Solutions UK, become GE Healthcare Finnamore, expanding its employee base to 70, many of whom are former clinicians, engineers and management consultants. The new firm will be led by John Deverill, formerly Managing Director of Finnamore. GE Healthcare Finnamore will be focused on partnering with NHS and other UK health and social care providers to help them improve operational efficiency, clinical outcomes and patient experience. The company will offer strategic consulting capabilities across integrated care, performance transformation, organizational development, finance and change management. Top Company Interviews Finnamore brings award winning expertise and relationships built over 20 years of operating in the UK market, to complement GE Healthcare’s existing consultancy expertise and UK client base. John Deverill, Managing Principal, GE Healthcare Finnamore said: “This brings Finnamore together with one of the world’s leading healthcare companies, both with a shared vision to improve health and well-being and to support the development of patient-focused, integrated care. We are creating an organization that can grow and broaden its capabilities to help the NHS and other health and social care providers to improve their financial, operational and clinical performance on a sustainable basis using consultancy, technology, data analytics, and capital.” The acquisition is part of GE Healthcare’s strategy to help healthcare providers navigate some of their most complex challenges in a climate of increased budgetary pressures as chronic disease incidence increases amongst an ageing population. Karl Blight, GE Healthcare’s General Manager in UK, said: “GE Healthcare is investing in advisory capabilities as part of the company’s objective to become a true strategic partner to our customers. GE Healthcare Finnamore’s consultants bring a real depth of expertise to help our UK customers address many of the efficiency challenges they face day to day.” Andy Ward, former head of Performance Solutions UK, who will now lead GE Healthcare’s consultancy work across Northern Europe while continuing to advise the UK team during the integration period, explained: “NHS England recently cited a potential 30 billion funding gap by 2020-21 if services continue to be delivered in the same way. We are well positioned to help combat that, drawing from GE’s heritage of performance improvement and operational management, and Finnamore’s experience of quality delivery in the UK. This acquisition increases our scale and expertise to help our customers optimize capacity and ensure that patients are cared for and treated as efficiently and effectively as possible.” GE Healthcare Finnamore will be based in London, close to GE Healthcare’s global HQ in Amersham.