The private health insurer Dovera has agreed to buy Union Health Insurance from Dutch insurance group Achmea. If approved by regulators, the transaction will reduce the number of health insurers operating in Slovakia’s public health insurance system from three to two.
The two insurers will continue operating separately until the deal receives approval from the relevant authorities. The companies expect the transaction to be completed until the end of 2026, after which Union will be merged into Dovera.
The purchase price was not disclosed. Dovera said the acquisition would be financed by funds from its shareholder, investment group Penta, and would not affect funds allocated for healthcare payments.
The acquisition would further strengthen Penta’s footprint in Slovak health care. Besides owning Dovera, the investment group also operates healthcare providers, including hospitals and outpatient clinics, and owns the Dr. Max pharmacy chain. The combination of a health insurer with healthcare providers has been one of the issues raised by critics of Penta’s role in the sector.
After the merger, Dovera would have about 2.5 million policyholders, combining its existing 1.8 million clients with Union’s nearly 700,000. The state-owned General Health Insurance Company (VsZP), currently the largest insurer in Slovakia, has around 2.7 million policyholders.
Union Health Insurance has operated on the Slovak market since 2006. Achmea has decided to sell its Slovak health insurance business while continuing other insurance activities. Union’s sister company, Union Insurance, will remain active in Slovakia, focusing on commercial life and non-life insurance.
The planned merger has prompted criticism from opposition parties. They say the deal will decrease competition in the health insurance sector, disadvantaging both patients and healthcare providers.
The final application for approval of the deal is expected to be submitted to the Office for Healthcare Supervision (UDZS) in the coming days. (The Slovak Spectator)