Alchemy offloads InterGlobal
Alchemy Partners has divested international medical insurance provider InterGlobal to NYSE-listed Aetna.
Alchemy acquired the company in April 2007 in a deal worth $60.7m, according to unquote" data. The initial transaction saw InterGlobal's management investing $4.1m for a minority stake in the newco. Alchemy acquired an 82.6% stake.
Company
InterGlobal counts more than 65,000 medical members globally and focuses on international private medical insurance for expatriates and frequent travellers in the Middle East, Asia, Africa and Europe.
The company's customer base comprises individuals and families, employers, diplomatic staff, international schools and affinity groups.
InterGlobal employs around 300 people, mainly in the UK, Dubai and Singapore.
The Farnham-based company was established in 1998 as a joint venture between insurance providers Inter Group and the Mike Henry Group.
People
Stephen Hartigan is CEO of InterGlobal. Mark Bertolina is chairman of Aetna and Richard di Benedetto is the company's president.
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