Hibernian Group has today completed its acquisition of the majority shareholding (70%) in VIVAS Group Ltd. (“VIVAS Health”).

Vhi Healthcare has today criticised what is has called the "hit and run" approach to companies netering the Irish health insurance market.

The health insurance firm Vivas is reassuring customers that their policies will not be affected following the company's planned takeover by the Hibernian Group.

HEALTH insurance company BUPA yesterday announced record profits of €558.91 million for 2007 after selling its Irish interests last year.

THE controversial risk equalisation scheme in Ireland — whereby elderly and ill people insured by the largely State- owned VHI are shielded from higher health insurance premiums — has been approved by the European Court of Justice.

VIVAS Health has expressed disappointment at the decision byt the European Court of First Instance to dismiss Bupa's challenge of risk equalisation in Ireland.

A EUROPEAN Court of Justice (ECJ) ruling this morning could have significant implications for the private health insurance market in Ireland.

PATIENTS given an anaesthetic at the Bon Secours hospital in Cork are being charged additional fees by consultants on top of their private health insurance fees.

EU Commissioner Charlie McCreevy has threatened to take the Government to court over the preferential treatment they give to the Voluntary Health Insurance (VHI).

The European Commission today threatened to take legal action against the Government for continuing to give State health insurer VHI special status.

The inaugural National Health Screening Month was launched in Dublin today by VIVAS Health.

THE combined profits of insurance companies in Ireland declined by 10% to just under €720 million last year.

MANY families will pay more than €1,800 a year for medical cover after the VHI announced an inflation-busting 8.5% hike from September.

CONSUMERS with private health insurance are the focus of a new information campaign from today about their legal right to switch insurers without being penalised.

THE Health Service Executive (HSE) has been paying for the use of cancer facilities at the private Beacon Hospital in south Dublin after a key piece of equipment at a public hospital in the capital broke down.

HEALTH Minister Mary Harney was accused yesterday of making people more afraid of using the public hospital system so that they would take out private health insurance.

EUROPEAN Commissioner Charlie McCreevy has turned up the pressure on the Government to reform the VHI.

VIVAS Health is more interested in complaining than competing, the VHI insisted yesterday after learning the company has urged the European Commission to take immediate action against the State-owned private health insurer for abusing its dominant position.

The largest health insurer VHI should not receive any risk equalisation payments until its market share is significantly reduced, its competitor Vivas Health claimed yesterday.

THE uncertainty pervading Ireland’s health-insurance market has given way to a profound sense of relief for tens of thousands of former BUPA customers and its 300 workers.

Minister for Health Mary Harney today defended rushing emergency legislation through the Oireachtas to close a legal loophole allowing new entrants to the health insurance market to avoid expensive risk equalisation payments.

A NEW report on the private health insurance market has strongly backed the implementation of the controversial risk equalisation scheme, which compels health insurers to pay compensation to the VHI.

HEALTH insurer VIVAS has called on the Competition Authority to formally investigate “anti-competitive” actions by the VHI.

VHI has warned that if the EU forces it to abide by the same rules as other health insurers it will have to cease to be a not-for-profit company.

THE future of State-owned VHI, Ireland’s biggest health insurance operator, is coming under serious threat and the Government’s community rating policy may have to be torn up following the move by a second company to side-step paying risk equalisation subsidies to VHI.

Minister for Health Mary Harney has reiterated that she intends to close a possible legal loophole that could allow Quinn Direct and Vivas to avoid making risk equalisation payments.

The health insurer Vivas has said it will be seeking a derogation from risk equalisation if Quinn Direct is allowed to avoid the compensation payments following its takeover of BUPA.

HEALTH insurance giant VHI last night demanded the Government clear up the law on its rival insurers so that BUPA Ireland will have to pay its €52 million a year community rating bill.

MORE than 90% of BUPA customers up for renewal in February have contacted VIVAS Health to enquire about its products and services, VIVAS said yesterday.

EUROPEAN Internal Market Commissioner Charlie McCreevy is preparing to insist the Government changes the VHI’s favoured status in Ireland’s health insurance market.

THE uncertainty surrounding Ireland’s health insurance business has deepened following the European Commission decision to take action against the coalition Government over alleged abuse of VHI’s dominant position in the market.

THE Mid-West’s medical infrastructure got a boost yesterday with the opening of a €1.3 million CT scan unit at the privately-run Barrington’s Hospital in Limerick.

WITH companies lining up for Bupa’s lucrative business, following its decision to pull out of the Irish health insurance market, the British-owned group yesterday lost another hand in the high-stakes poker game surrounding the controversial issue of risk equalisation.

THE Taoiseach’s recent comment that BUPA was out to ‘screw’ the elderly and ‘crocks’ like himself showed how much the Government is out of touch with reality on this issue.

BUPA claims risk equalisation would cost it €161m over the next three years compared with projected profits of €64m under the current system.

I REMARKED to my family months ago that if I was a BUPA director I would advise my shareholders the company should pull out of Ireland because I would be negligent if I allowed it knowingly to incur a liability three times greater than likely profits.

WITH just two players left in the health insurance market there could be problems in generating real price competition, a consumer watchdog warned yesterday.

Where the commercial viability of one firm came into conflict with the greater good of the wider community, there was really only going to be one winner.

HEALTH Minister Mary Harney has strongly defended the Government policies that led to BUPA’s decision to withdraw from the health insurance market in the face of severe criticism from opposition parties.

THE spat between BUPA and VHI over risk equalisation is a storm in a teacup. It will not have any affect on patient care.

Health insurer Vivas is considering buying BUPA’s subscriber base if the British firm pulls out of the Irish market.

A long-awaited High Court decision is due today on whether health insurance companies with younger customers should compensate rivals with older customers.

A story in yesterday’s edition said Vivas products cannot be sold through Hibernian Insurance.

HEALTH insurer Vivas made a loss of €3.6 million in 2005, its first full year of trading.