Denplan withdraws from Republic of Ireland
Denplan is to cease operating in the Republic of Ireland, less than two years after first launching its branded patient payment plans in the country.
The company’s executive board described it as ‘a difficult decision’, and cited market factors and increased regulation as being behind the move.
In a press release the company said: ‘Ongoing interest by the insurance regulators in this region has necessitated a growing investment in legal services to explain Denplan’s product design and cover, which has, in turn, made this market financially unviable.’
Managing director Steve Gates added: ‘We’re disappointed to be withdrawing from the Republic of Ireland, but I would personally like to thank all of our contacts in the area for the support and business they placed with Denplan and wish them every success in the future.’
The company will continue to operate in Northern Ireland, and has said that no jobs will be lost as a result of the decision.