The Philippine Competition Commission has approved the proposed acquisition by AIA Philippines Life and General Insurance Company Inc. of 100 percent of shares in Medicard Philippines Inc.
According to the antitrust agency, while Medicard is among the top health maintenance organizations in the Philippines at the time of the merger holding 16.93 percent of the market share, it competes with Maxicare HealthCare Corporation that holds 36.29 percent; Asalus Inc. with 26.12 percent; PhilHealth Care Inc. with 4.89 percent; Value Care Health Systems Inc. with 4.20 percent, and other HMOs composing 11.57 percent of the remaining share in the market.
In its market analysis, the PCC Mergers and Acquisitions Office also found that “customers are able to switch easily to other health or medical coverage firms, since majority of health maintenance organization [HMO] plans run only for a year and policyholders are not barred from switching providers.”
The antitrust agency said it also observed that customers looking for group health or medical coverage have “high bargaining power” and can negotiate with service providers for better terms.
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