Vivas office support group seeks buyer

Health insurer Vivas yesterday said its services would not be hit by the fact that part of the group that provides its back office support has run out of cash.

British-based Rubicon Group has been placed in administration, the UK equivalent of examinership, and is seeking a buyer to save its 500 jobs. Aside from its British operations, it has a base in Portadown in Northern Ireland, which is part of the administration process.

The group owns shares in Rubicon Health and Rubicon Claims, which provide administrative support and claims management services to Vivas.

However, Vivas said yesterday that both businesses were continuing to trade and were unaffected by their parent's problems. "Rubicon Health is a profitable part of the Rubicon group and continues to trade as normal," Vivas said.

"Penta Capital recently completed deals to buy out Rubicon Claims Ltd and to acquire the business of Rubicon Health Ltd from the Rubicon group, stating that both of these companies will continue to trade as before and that there will be no impact on clients."

Vivas added that there had been no impact on its operations as a result of these transactions and stressed that all its systems were running as normal.

Rubicon's directors were forced to place the company in administration because they could not attract new investment into the business or meet debts as they fell due.