The Autorité de la concurrence clears the acquisition of joint control of Nouvéal by Malakoff Médéric and La Poste
On 27 August 2018, Malakoff Médéric and La Poste notified the Autorité de la concurrence the change from sole control by Malakoff Médéric of Nouvéal to joint control, together with La Poste.
Parties to the transaction
Malakoff Médéric is active in the sectors of supplementary pension schemes and insurance of persons. It is also active in the markets of reinsurance, e-Health, long-term housing for the elderly, diagnostic and hospital care offers, post-treatment care facilities and rehabilitation along with offers for home hospitalization. Finally, it sells insurance products on behalf of third parties. Further, the group recently merged with Humanis (Decision 18-DCC-118/ see press release of 18 July 2018). Malakoff Médéric generated a turnover of approximately 4.2 billion euros before tax in 2017.
La Poste is a limited company (Société anonyme), at the group head of La Poste. Its activity is made up of five areas: Services-Courrier-Colis, GeoPost, La Banque Postale, Réseau La Poste and Numérique. Through Asten Santé, acquired in 2017 (Decision 17-DCC-74), La Poste is also active in the sectors of e-Health, home care services and services to individuals. La Poste generated a turnover of approximately 24,1 billion euros before tax in 2017.
Nouvéal is active in the e-Health sector, via its digital solutions aimed at companies in the sector. It markets the « e-fitback » solution, which provides guidance pre-admission and throughout the hospitalization and offers a follow-up post-hospitalization for outpatients.
The transaction is not liable to harm competition
As the market positions of the parties are limited, in particular in the e-Health sector, the Autorité was able to rule out any competition concern and clear the transaction without conditions.