Johannesburg, 2 December 2019 – Discovery today announced the establishment of a new business unit, Vitality Health International (VHI). The purpose of the unit is to coordinate and intensify focus and resource allocation to Discovery’s global emerging health insurance initiatives. This comes on the back of the considerable growth of Ping An Health and the presence of other opportunities with Discovery’s insurance partners and within specific markets.
“We believe the opportunities are significant, given the rapid growth of health insurance in most markets around the world and Discovery’s unique health insurance expertise, assets, and shared-value model; combined with our involvement in the preeminent health insurance businesses in South Africa, China and the UK,” explained Discovery Chief Executive Adrian Gore.
Dr Jonathan Broomberg, who has been CEO of Discovery Health Limited since 2010, will assume the role of CEO of Vitality Health International, with effect from 1 January 2020. Dr Broomberg will also act as Global Head of Health Insurance for the Discovery Group. In this role, Dr Broomberg will coordinate all of the health insurance businesses in the Group, and will lead Discovery’s health regulatory and policy affairs globally, including South Africa. Dr Broomberg will remain on the Board of Discovery Health, and will be based in Johannesburg.
Dr Ryan Noach, current Deputy CEO of Discovery Health Limited, will be appointed as CEO of Discovery Health Limited. Dr Noach has been with Discovery Health for over 11 years, acting in both COO and Deputy CEO roles, and brings a wealth of healthcare and business experience to his new role, having held various leadership positions across both the provider and payer side of the healthcare industry.
“This represents a seamless leadership transition for Discovery Health, which has been planned over the past 18 months. We are confident that Dr Noach will lead Discovery Health to continued excellence as one of the world’s leading health insurers and a proudly South African business champion,” added Gore.
Discovery Limited is a South African-founded financial services organisation that operates in the healthcare, life assurance, short-term insurance, savings and investment and wellness markets. Since inception, Discovery has been guided by a clear core purpose – to make people healthier and to enhance and protect their lives. This has manifested in its globally recognised Vitality Shared-Value insurance model, exported to over 19 countries and reaching over 11 million members. Discovery trades on the Johannesburg Securities Exchange, with a market cap of $7 billion.
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