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BUPA
From Wikipedia, the free encyclopedia
| BUPA | |
 |
|
| Type | Provident association |
|---|---|
| Founded | 1947 |
| Headquarters | London, UK |
| Key people | Val Gooding, CEO |
| Industry | Healthcare |
| Revenue | £3,627 million (2004) |
| Employees | 44,000 (2004) |
| Website | www.bupa.com |
BUPA is a healthcare organisation with bases on four continents and more than eight million customers in 192 countries.
Contents |
BUPA began as The British United Provident Association in 1947. Its biggest and original business is health insurance in the UK for individuals, companies and other organisations. More than half of the UK's top companies are BUPA customers.
The company has it's head office in central London, with main contact centres in Salford Quays and Staines.
BUPA also has offices in Brighton (BUPA International), Bristol (BUPA Health Assurance), Ashford, Surrey (Information Systems) and Leeds (BUPA Care Services).
The company is known for its sponsorship of main events, such as the Great North Run, held annually in Newcastle upon Tyne, and the Great South Run, held annually in Portsmouth.
BUPA staff take calls for Comic Relief during the appeal.
BUPA is now a global health and care specialist with services that include:
- health insurance
- hospitals
- cosmetic surgery
- care homes
- health assessments
- health at work services
- childcare
BUPA has businesses in Asia, Australia, Saudi Arabia and Thailand. It also owns several healthcare companies overseas including Spain's largest healthcare company, Sanitas, and acquired IHI Danmark (Copenhagen, Denmark) and Amedex (Miami, USA) in September 2005.
On 14th December 2006, BUPA announced it would leave the Irish market following a warning that the company would have to pay €161m over the next three years to support its main rival, Vhi Healthcare, who demanded that "risk equalisation" would be required to be subsidised from BUPA. Vhi Heathcare has more older members, which results in more claims, and that the health insurance market would need to help them, to keep providing the services. BUPA Ireland operated from its corporate headquarters in Dublin, and its call centre in Fermoy, Co. Cork. On January 31st 2007, BUPA Ireland announced a takeover agreement with Quinn Group, resulting in BUPA Ireland transferring around 750,000 members and saving over 300 jobs. [1]
As a provident association, BUPA does not have shareholders and reinvests its surpluses into improved health and care facilities such as medical equipment, the latest technology such as SWIFT (System With Inter-Functional Transactions) and buildings.
BUPA annually awards nearly £1.5 million in grants to the BUPA Foundation, an independent charitable foundation that supports projects to advance medical knowledge and improve treatments.
BUPA's chief executive Val Gooding, who has been in the position since 1998, is ranked as the 16th most powerful businesswoman in the world according to Fortune magazine.