NIB Holdings Limited
(ASX:NHF) has agreed to acquire New Zealand’s second largest health insurer TOWER Medical Insurance for about $80 million.
NIB’s Managing Director says the acquisition is in line with NIB’s strategy of growing its international earnings.
NIB will fund the transaction through surplus capital and a New Zealand senior debt facility.
NIB Holdings generated a net profit to $67.6 million in the 2012 financial year.
